Renee Wood, a devoted wife and mother took a chance and turned a hunch
into a wildly successful business. Finding the right niche helped her accomplish three major milestones:
~ September 12, 2004 - Chicago Tribune Business Feature
~ April 19, 2005 - Appearance on the Oprah Winfrey Show
~ October 24, 2006 - Awardee in the Make Mine a $Million Business, founded by Count Me In and American Express
Ok, so now that I’ve gotten your attention, who else besides Renee has felt at least once that they lack business experience? I can relate to that feeling but the difference is– Renee didn’t let it stop her. Without hesitation she confessed, “Like many entrepreneurs, I have a tendency to be controlling when it comes to running my business. Rather than hiring out or delegating job responsibilities (search engine optimization, press release writing, etc.). I read the book on each topic and figured out how to fulfill the role myself. Lack of confidence proved to be a lofty challenge. My tendency to be risk and debt averse continues to be a challenge as the business grows. In the beginning, I decided to try the ‘fake it till you make it’ approach. That didn’t last. Ultimately, I have gained authentic confidence in the accumulation of small successes.â€?
Did you encounter any personal challenges that inspired you to launch your business?
RENEE: There were several events that inspired me to launch The Comfort Company. The first is that I longed to find a way to continue my social work career in a capacity that would allow me to prioritize my role as a mother. The second is that my spouses’ industry was directly affected by the events of 9/11, and his job security was threatened. When we began to weigh our options, I realized there was a very real possibility I would have to find gainful employment. I was willing to move mountains to find a way to continue to stay at home with my children, yet still contribute to our household income.
What kind of business do you have?
RENEE: The Comfort Company is an online store specializing in the development and sale of meaningful sympathy gifts. Our mission is to help simplify the difficult task of selecting an appropriate sympathy gift. I was inspired to start this business after a family member lost her father and I struggled to find a special gift for her to remember him by. Frustrated by a lack of options, I ended up designing a pendant and writing a comforting verse to accompany the piece. Creating and giving this gift of remembrance was so fulfilling that I decided to pursue it and started my business in 2001.
As a medical social worker who was, at one time, a member of the medical team present when a patient was removed from life support, this seemed like a natural choice for me. Because I had young children at home, creating a website was the perfect option.
What is unique or special about your products that gives it an edge over your competitors?
RENEE: Every product we carry is designed to acknowledge loss rather than to minimize it. Comfort Company is unique in that we offer the largest selection of non-traditional sympathy gifts in the country.
Our largest indirect competitor is the floral industry, but we do find people who order from us are looking for a lasting alternative to flowers. We have a definite edge over our competitors because we have intentionally created custom products based on the needs of the bereaved. These products are available only on our website.
How long did it take before your business became profitable?
RENEE: I had very few start-up expenses. Initially I took out a small home equity loan to cover some basic manufacturing, printing and web hosting costs. After about four months, my website began to show up in the SERPS (search engine results pages) under popular keywords such as “sympathy gifts�. This led traffic to the site, which resulted in steady sales. I have maintained a high organic ranking in the SERPS and have been profitable ever since.
Did you need to have a certain mindset to achieve success?
RENEE: I think you can have many mind sets and still achieve success. I have always had a positive mental attitude and felt, “Where there’s a will, there’s a way.� I wanted so badly to see my business succeed that I was willing to do whatever it took to make it happen. Were there doubts along the way? Absolutely. But I have a secret weapon to use against doubt. I simply close my eyes and for a few moments visualize myself reaching certain professional milestones. Keeping the goal in sight—if only in my mind— was a powerful motivator to keep moving towards it.
Have you noticed certain advantages to being an entrepreneur versus having a day job?
RENEE: There are so many advantages to being an entrepreneur vs. being in the traditional workplace, particularly if you are running a household on the side. The schedule is flexible, the work is rewarding and I feel I am in complete control of my destiny. I have found a way to earn an income doing something I believe in. Being an entrepreneur is challenging and at times all consuming, but borrowing from one of my favorite bible quotes, “the yoke is easy and the burden is light�.
Has it been difficult to get financing for your company?
RENEE: No, but I haven’t needed financing in excess of our home equity line.
Has the media picked up on your story?
RENEE: I have been fortunate enough to experience some very influential media exposure. I was a guest on the Oprah Winfrey Show, a front-page business feature in the Chicago Tribune, spotlighted on CLTV, interviewed on WGN radio and written about by an AP business writer. I handle my own publicity by default and have very little time to work on it. My secret to attracting the media is to simply send a sincere thank you note or email to a specific reporter letting them know how much I appreciate the story they wrote. This is how the Chicago Tribune picked up my story for a front-page business feature, which later syndicated to over 20 papers across the country. Genuine compliments have the power to open media doors.
Did you have a mentor to help you get started?
RENEE: I did not have a mentor when getting started, although I do have access to mentors now as an award winner of the Make Mine a $Million Business program.
Approximately how much money did you invest before your business became profitable?
RENEE: Less than $6,000.
How long has it been since you left your job?
RENEE: I left my traditional social work position 8 years ago after I gave birth to my third daughter. I currently spend 30-50 hours on my business depending on the season, what’s going on at home and how inspired I am to get to the office on any given day.
What resources were most helpful to you when you were starting your business?
RENEE: I read every business book I could get my hands on and relied heavily on internet research. Because I am also a mom running a business, I frequently turn to the Mompreneurs Online forum for advice. Ultimately, I believe the most influential resource for running a business is the School of Hard Knocks.
What ways have you found to be most effective in marketing your product or service to get sales?
RENEE: Word of mouth marketing has been my most effective tool to increase sales. I do have a small advertising budget, which I spend on exposing our products to a highly targeted audience. Grass roots publicity efforts have also produced great sales results.
What tips can you give others who want to embrace their dream but, don’t have the confidence or feel they don’t have what it takes to succeed?
RENEE: Give yourself the permission and the tools you need to properly get your business off the ground. I stumbled through the start-up phase, recycling paper clips and skimping on the technology that was absolutely necessary to successfully run an online business. I couldn’t justify investing my personal time and our household money to chase a dream that I wasn’t confident would come true. One day I made the decision that I would invest up to $10,000 dollars and one year of my time to make this business happen. Once I made that commitment to myself, confidence and success naturally followed.
What would you tell someone who wants to be an entrepreneur but doesn’t know what they want to do, or where to begin to get their idea up and making money?
RENEE: I would tell them to take a good look at their life…what makes them happy, what do they love, what inspires them, what do they choose to spend their free time doing. Based on those answers, create a broad job description and try to narrow that description down into a product or service that serves a distinct market niche.
In nature, when you narrow the channel you strengthen the stream. The same principle can be applied to business. When you narrow your market niche, you strengthen your chances for business success.
For more inspiring stories and shortcuts to success, visit us soon. And as always tell us what you are up to and what sort of info you might be looking for.
This entry was posted on Friday, August 17th, 2007 at 6:46 pm and is filed under Online Business, Work, Starting a Business, Work at Home Mom. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.19 Responses to “Word of Mouth Puts Niche Business On Top!”
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August 18th, 2007 at 4:30 am
[…] Word of Mouth Puts Niche Business On Top!Ok, so now that I ve gotten your attention, who else besides Renee has felt at least once that they lack business experience? I can relate to that feeling but the difference is Renee didn t let it stop her. … Tags:Share This […]
August 18th, 2007 at 9:17 am
Dear Renee: Do you purchase sympathy cards (handmade/printing cards from others? I would like to send you a copy of samples of my work. Thank you for your time and consideration. Sincerely, Eloris
August 18th, 2007 at 9:19 am
Renee: Be blessed in your endeavours.
August 21st, 2007 at 9:40 am
Eloris, Thank you for asking and thank you for your sweet blessing! We do regularly review product submissions. We carry two lines of sympathy cards at the present time. Please feel free to submit products for consideration to:
The Comfort Company
1144 East State Street, Suite # A214
Geneva, IL 60134
August 21st, 2007 at 10:01 am
Congratulations Renee! You deserve all the positive things that come your way–you are an inspiration to so many!
August 21st, 2007 at 10:27 am
Renee - I totally agree about doubt. There have been times when doubt creeps in and I do the same thing, I visualize large successes and things always work out!
Sandy Corso
Peaceful Company
peacefulcompany.com
August 21st, 2007 at 11:12 am
“In nature, when you narrow the channel you strengthen the stream. The same principle can be applied to business. When you narrow your market niche, you strengthen your chances for business success.”
Thank you so much, this says it all. We are going through a major shift in our approach and stopping trying to be all things to all people. It is scary but the right thing to do. We cannot be great at everything! Way to go and continued success.
August 21st, 2007 at 11:13 am
Renee - In my 21 years in business I have never heard the argument for a niche in the market place as well as you put it when you said that When you narrow the channel you strengthen the stream. I couldn’t agree more. I started my business to capitalize on what I knew best: how to help employers to avoid hiring mistakes and to mitigate the risks that come with hiring the wrong people. To this day our niche–to provide in-depth, not rudimentary background checks to employers–continues to serve us well. While our industry continues to evolve into a commodity business, we have proven that there is a market for quality over cost. My best wishes for continued succees from a fellow M3-er.
August 21st, 2007 at 4:42 pm
Renee, unfortunately I have had the need to and have purchased your products. You make an unpleasant necessary evil of this world “Comforting”. Your story is an inspiration and your products uplifting during times when people need it most. Thank you!
Leslie Haywood
Founder and President
Charmed Life Products LLC
www.grillcharms.com
August 21st, 2007 at 7:06 pm
What a great story! I love reading up on how you all have started and how far you’ve come! It’s been a pleasure chatting with you on the Mompreneurs site and even more fun getting to hear your story! What a great service you are providing with The Comfort Company!
Lisa
August 22nd, 2007 at 8:08 am
Renee,
I will never forget the personal sacrifice you made to come to New York to participate in the Make Mine a Million $ Business program. I think it was one of the first times you gave yourself permission to do what you needed to do to give you and your business a chance to really thrive. I hope that you and your family are reaping the benefits of that decision and other very good choices you continue to make. Congratulations!
Libby
August 22nd, 2007 at 11:58 am
Renee - Congrats on your business and a great story. It’s nice to hear from other M3′ers about their start and journey. I also had the desire and drive to own a business to balance work and family. So, I bought Rapport International when my children were 6 months and 2.5 years old. My sons now enjoy learning words from different languages when they “hang out” with me at our foreign language translation company. I fully believe that knowing only one language is like living in only one room in a castle. I’m hoping that my boys learn to love cultures, languages and business such as I do.
Wendy Pease
August 22nd, 2007 at 9:57 pm
Renee ~ Great story and you have expressed so well what many of us have gone through. As part of the Make Mine A Million group, I am proud to be associated with so many women with such strength. Well wishes for your continued success.
The Alaska Renee of the M3 Sisters.
TSS, Inc.
August 23rd, 2007 at 4:22 am
Renee - you are an inspiration of someone who started a successfull busines by identifying a heartfelt need in the marketplace. That you can be so successful and balance this with the love and needs of your family is inspirational to me! Please, keep blogging!
August 23rd, 2007 at 8:17 am
Renee thank you for the wonderful insights! I am writing the “In nature, when you narrow the channel you strengthen the stream” on my bathroom mirror this morning! (Dry erase pen on the mirror is my most inspirational distraction from my puffy early morning face)
It is inspiring to see when compassion and “right work” meet dedication and follow thru how success is possible. Thanks Michelle for asking the great questions.
Linda Russell
Mugshots School Photography
“Finally a School Portrait Worth Framing”
www.mugsyclicks.com
August 23rd, 2007 at 3:06 pm
Renee, I find your story inspiring and want to congratulate you on pursuing that intuitive part of your being and as a result you have blessed youself and your family and all your customers as well. Your company is an example of the rock tossed in a pond and the ripple effect is great. I, too am in a niche market, ornamental iron, and am learning to redefine it. We have been a custom job shop for ten years and I am now trying to establish an online store. Praying for inspiration in challenge situations has kept us pursuing our dream. I can’t tell you how much it means to hear you acknowledge that you have done the right thing and are celebrating now. May you continue to be blessed.
August 28th, 2007 at 1:03 pm
Renee -
Having been a repeat customer of The Comfort Company even before we met at the Make Mine a Million event, I know personally how much what you do makes a difference for someone who is grieving. I’m so pleased to see that you and your business are getting the attention and success you so deserve. All my best wishes for you in your journey.
Jude Rush
Dovetail DCI
September 10th, 2007 at 10:01 pm
Great blog. I really liked it. I have also created a lens in same niche. This is my first time, hope u guys like it. Here’s a brief intro: : As a longtime Work at home entrepreneur and internet marketer, I would like to share with you some of the common concepts I have come to understand in this industry. These concepts are quite simple but quite elusive to most of us when we are first starting out. I would like to begin by asking a simple question: Do you know how to pick the perfect home business program for YOU? For a mor detail visit here : http://www.squidoo.com/How-To-Choose-The-Perfect-Home-Business-For-You/
April 3rd, 2008 at 1:27 pm
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