Lockdown was such a weird little time for so many of us, and it presented a lot of instability. One of the ways that this instability manifested itself for me personally was redundancy. People deal with uncertainty in different ways. Some scramble to return to normality, and some obliterate normality in favour of creating something new. I opted for the latter. Whilst it has been terrifying at times, I could not emphasise enough the importance of taking your discomfort and using it as a driving force. When I relaunched my company on the first of December last year, my initial focus was on what I knew: manufacturing. It was my role at Microsoft. It was my role at Hitachi. It was where both my skills and network lay. So, the basis of my idea was to create a low-cost model for manufacturers to market themselves.
I planned to have a subscription called 'Marketing 2 Manufacturing', and I threw everything but the kitchen sink at it. 'Everything' manifested itself in the form of time, money, effort, resources, blogs, social posts and more. I also made hundreds of phone calls and emails, but there was simply no interest. I cannot tell you how crushing it is to have poured your heart and soul into something only for it to get dismissed. Especially as it had seemed like such a natural fit in terms of a business idea. The saving grace of the situation was the feedback I received. Whilst people were not interested in learning to market for themselves, they were interested in someone doing the marketing for them. So that is how I came up with the idea to launch a fully managed marketing solution in February this year, on a small scale.
A few weeks later, we had secured our very first client- a skincare clinic. From that point onwards, a snowball effect ensued, and my little start-up was gaining traction. The second client was an HR operations company, and the third, a manufacturing company. This felt like a key event in MiM history as we were starting to get customers, and the feedback had been crucial in creating this fully managed marketing type solution. It also meant that I needed to get some additional resources.
On the first of April, Claire Price and Cindy Slaughter joined us, and we became a team of three - a pivotal moment for MiM. The growth of our team meant that we could engage our specialist skills and assign projects where they would prove most valuable for our clients. My role shifted primarily to Account Management and Strategy, focusing on integrating our business with our customers'.
What we had always intended for the next phase of our growth was to win larger contracts. And that is what we have done. We started to engage larger companies and began working with one or two exciting brands. This shift not only resulted in much bigger prospects but much greater revenue. Most crucially, what it allowed us to do was focus more. We have reduced our number of clients in the second half of this calendar year, it has allowed us to bring more value to our existing clients; it has been phenomenal. Then in November, we were joined by Lauren Dowden, which marked the beginning of an exciting opportunity. It was the first role we had hired that was not purely Account Management. The job role extends across all accounts. So that is hugely exciting for us as it gives you exposure across the board and supports all the account managers.
The icing on the cake for us this year has been our VAT registration. This milestone has been super exciting for me as I feel as if it almost summarises the growth that we have experienced this year. We have gone from being a one-man company to a fully-fledged marketing agency. I think 2022 marks phase 3 of our transformation, and I am looking forward to MiM coming into its own.
All in all, it has been a fantastic year. I absolutely could not have done it without our family, friends, the community around us, and the staff.
We look forward to growing with our clients and onboarding new and exciting brands throughout 2022 and beyond.
Sincerely,
Rowan Williams,
Founder and Managing Director at MiM
What would you say was the point at which you started to feel like your idea was going to work?
It was after winning our largest contract back in July - our anchor client. They are a fast-growing technology company that has strong ties with Microsoft. Claire and I were particularly enthusiastic about this opportunity as the essence of this company was our bread and butter. We knew exactly how this type of company would operate from a marketing perspective. We implemented that successfully and the results and feedback we have seen from that account has been phenomenal.
What has been your steepest learning curve?
"The first notable mistake that I made was launching that M2S marketing activity at the beginning of the year. To put it bluntly, I felt like it was a massive failure, but it is taking that and doing everything you can to put a positive spin on it. We looked at the feedback and asked ourselves why. In fact, it was not just ourselves that we asked. We reached out directly to our clients and requested feedback. 'Why was it not working?' 'What were we doing wrong?' and most importantly, 'What did we need to change?'
The response we got was a blindingly obvious fix. People wanted an all-inclusive marketing package. They did not want to have to learn how to market and still execute it themselves. And that was a big thing. The second learning curve was that my background has always been marketing. Whilst I knew exactly how to execute the service we were providing; I was less experienced with the nuances of how to run a business. It forced me to look at things from an Accounting, Operations, and IT perspective- something I had never even had to think about previously. Most essentially, I have surrounded myself with a group of incredibly talented people. They, through their own experience, have expertly filled the gaps in my knowledge and advised me. It has been a challenge- particularly when we are growing this quickly."
Did you have any concerns about hiring other people?
Initially, it was a big concern for me, but I knew that it had to happen. We were at the point where I did not want us to be held back by the limited resources we had at the time. We needed to take advantage of our fast growth, which has meant two things: having to employ new people and being incredibly fiscally responsible. That means not withdrawing large amounts of money from the business and investing in expensive items. I believe that fiscal responsibility has allowed us to provide a better level of service for our customers.
What led you to reignite this business instead of searching for another employment opportunity?
I always promised myself that I would start a business before I turned thirty. Knowing I was one year shy, I just had to get on with it. I got made redundant, which gave me enough cash to invest five or six months without the need for a salary. And there was no better opportunity than right now, with this lump sum of money, to start my own business.
What is something you wish you had known before starting a business?
I think the best piece of advice I could pass on is not to underestimate the value of your product and solutions. One of the biggest things we have had to
learn this year is how to tread the line between; value for the customer and sustainability for us as a business. After launching, we were looking at maybe serving ten or fifteen customers at a lower price point. But that is a very bandwidth-heavy approach. It is not just about the number of hours in the day. You also need to consider whether it is possible to manage each of those clients with limited resources, as they are paying you a small account. As a result, in the second half of this year, our strategy has focused on outstanding customer service and a high level of support. We are also able to charge a greater amount per customer because of that. Whilst it is more sustainable for us, our customers also see huge amounts of value in what we do because we operate as if we were a member of their team.
So, moving forward, what are you hoping to see from MiM within the next year?
We have been incredibly lucky, throughout the last three quarters, growing over 50% in each. We are now reinvesting that profit into the next phase of our growth, which means we will have more resources to expand our client base. We are also hoping for more specialised resources in order to fulfil specific roles like technical and digital marketing. So where do I see us this time next year? No one knows, but I expect us to be doubled or tripled in size. Moreover, we want to continue our work with some of the great clients we are working with now.