London business incubator to offer access to entrepreneurial marketing
Monday March 03, 2008
Start-up companies that succeed are beating long odds. More will fail in the first five years than will succeed.
A strategic marketing and implementation plan focused on execution are key components to success. But all too often, these new businesses don't have the expertise needed to market their product or service.
Kentucky Highlands Investment Corporation's small business incubator now offers access to entrepreneurial marketing, thanks to a new arrangement with Grassroots Marketing.
Bob Wilson, the director for the Center of Entrepreneurial Growth in the Tennessee research corridor and the KHIC consultant overseeing the incubator, said Grassroots Marketing is a full-service firm that can serve as an outsourced marketing department for companies with little or no marketing department.
"Grassroots Marketing is the perfect addition to the incubator," he said. "It is a marketing firm for entrepreneurs that is run by entrepreneurs. They understand what it takes to compete and thrive in this economy because they have been successful entrepreneurs themselves. To have this kind of talent and expertise available in this market is unique and will give companies in this region a real competitive edge."
Fred Hess, Grassroots Marketing's president, started his career working for larger companies in industries such as consumer products, commodities and tech products. He met Wilson several years ago, and Wilson invited him to speak at a Tech 2020 seminar.
"I was working for an Internet learning company in Knoxville at the time," Hess said. "I took the company from $1 million in sales to $6 million in sales in four years, when the company was then sold to a larger firm. I basically marketed myself out of a job."
While Hess was exploring new opportunities, he agreed to speak at Wilson's seminar. Before he walked out of the seminar, he had four clients lined up. Within two months, he had 15 clients.
"What makes us different is that some firms offer market research, some create strategic plans, while others offer graphic design and advertising." Hess said. "As our client's outsourced marketing department, we do all of the above. We work with our clients to form a strategic marketing plan and then execute, manage and monitor that plan."
Hess, whose company is based in Knoxville, opened a London office in February when he formed a partnership with a local company called Kitz Graphics. Now, Grassroots Marketing has eight employees in Knoxville, and two in London. Employees often split time between the two offices.
The company offers in-house graphic design, web design, print and media materials, trade show support, advertising placement and most other marketing execution functions.
"We're a marketing department in a box," Hess said. "We save our clients money, reduce the risk of having to hire more employees and bring 25 to 30 years of experience to them within minutes."
Visit www.grassrootsm.com for more information, or by calling the London, Ky., office at (606) 878-6643 or the Knoxville, Tenn., office at (865)246-2312.
About the incubator:
Housed at KHIC's London office, the incubator allows business owners to receive coaching and mentoring from experienced entrepreneurs, access to mentors and advisers during the development process, participate in a formal entrepreneur management development training program, and have access to capital if their businesses meet milestones and accomplish specific items in their action plan.
Rents in the incubator are comparable to what other local facilities charge.
Interested businesses can contact Bob Wilson at bwilson@khic.org. There is a screening process, which typically takes about 30 days.
In addition, training classes currently are being held from 8:30 a.m. to 10:30 a.m. every second Tuesday of the month at KHIC's office, 362 Old Whitley Road in London. At each class, a different topic is discussed. For more information, call 606-864-5175.