Madison+Main’s Weekly Report – June 24th, 2016


Finding Your Niche
Hey folks,

The word “niche” has always looked funny to me and I don’t think most people know what the word really means. I often hear people pronounce it “neesh” as opposed to “nitch.” Regardless (and I don’t mean “irregardless” because that’s not a word), business people bandy the word about frequently. It really means a “specialized, but profitablecorner of the market.”  Many companies have specialized products or services, but most people call themselves a “niche company” or a “niche service provider” when they simply mean small or micro-preneur. Niche doesn’t mean small. We all have that one friend who has an Etsy account and sells incredibly random stuff like a tie-dyed oven mitt for kids. I wouldn’t call them a “niche retailer.” If you sell a product or a service, you need to make sure that there is a market for it first because the most important part of the definition of  “niche” is the word “profitable.”

This oven mitt is to dye for.
Monday, June 20th -It’s All About The Numbers
Monday was the 1st day of summer, and the longest day of the year. I started the day bright and early at 8 a.m. with a quick check-up and my “numbers” were good. I have no idea how I maintain such good blood pressure — 120/70 — working in this business. I was going to buy a fitbit, but then my new doctor — who looks like he’s 14 — showed me an app on my iPhone that counts my steps. On Monday, I only got 4,294. I guess I need to step up my game.
Speaking of numbers, this little e-mail now has more than 6,000 subscribers, according to Constant Contact. Thanks to loyal readers for all of your great comments and feedback… and most of all, thanks for sharing the Weekly Report with your friends. If you know someone who might enjoy getting this each week, have them sign up here.
Tuesday, June 21st– #GivingTuesday
Our firm works with a lot of great nonprofit organizations and on Tuesday, we worked on several nonprofit campaigns including Swift Creek Mill Theatre and FC Richmond. A few weeks ago, I also asked readers of the Weekly Report to send me information about local charity events that I could promote in the newsletter. Thanks to Connie Salinas, Community Engagement Manager at the Virginia Home for Boys and Girls for sending in some great info. Connie has been getting the newsletter for more than four years, and I finally have proof that she reads it. 🙂
The Virginia Home for Boys and Girls is celebrating its 170th year in operation, and on Saturday, August 20th, they will host their youth triathlon. 100% of proceeds benefit the kids directly and you can get involved as a sponsor or register your 5-14 year old at www.vhbg.org/events.
Wednesday, June 22nd – What’s In A Name?
At work, occasionally teammates will send a joke, a funny picture or a video of something silly or strange that they have found on the web. We call them “moments of zen,” and they break up the day and keep the mood light. On Wednesday, we continued another tradition and paused for a moment to hear our summer interns present their self-selected nicknames. I am pleased to report that Lauren “LIDS (Little Intern Downstairs)” Embrey and Dyllan “Dan the Man” Shaw did an outstanding job with their presentations.
Dyllan “Dan the Man” Shaw and Lauren “LIDS (Little Intern Downstairs)” Embrey paused for a photo on Wednesday.
Thursday, June 23rd – Short-Term Memory
Yesterday is a blur. My calendar says I worked from 7:30 a.m. – 7:30 p.m., but I honestly can’t remember too much about it. Sophie “Superwoman” Fisher and I worked on thirty different things yesterday and she snapped a photo of me to prove I was working.
When I work on Lightning Protection Institute projects I always try to wear my lightning hat. #WhenThunderRoarsGoIndoors
Friday, June 24th – Free Sandals and Water Shoes
Meetings and conference calls and lunches, oh my! Today has been busy as well, but one of the highlights was meeting with my friend Jay Cowan for lunch. Jay and I sit on Lucy Corr Foundation together. We’re both in the Virginia Council of CEOs and we’ve been buds for about five years. His company, Business Owner Exit Strategies (BOES), helps people with business succession and exit planning. As he likes to say, “if you think it’s hard getting INTO business, wait until you try getting OUT.”
Our client – Cudas Sandals – is giving away a chance to win free sandals and water shoes on Fridays this summer! #FreeShoeFriday Click here to like them on Facebook and enter to win.
“If everybody is doing it one way, there’s a good chance you can find your niche by going exactly in the opposite direction.”
        – Sam Walton