Editor’s Note: Dr. Daake is sharing thoughts about entrepreneurship and also ideas from one of his former Florida State University colleagues, Karen B. Moore. She has created one of the largest and most successful PR and marketing companies in Florida and the Southeast.
In part I, I will share some of my thoughts on entrepreneurship and then describe how Karen built a successful award-winning business and provide five key lessons that we can learn from her experience. In Part II, Karen and I will share some cutting-edge advice she has written about in two articles in Forbes.
We live in an era of entrepreneurship. Shows such as CNBC’s Shark Tank have only heightened that interest. More than ever, the desire to start your own business and run your own gig is growing among Millennials, and now, Generation Z. Academic programs are growing around the country, including right here in Kankakee County. This year, the McGraw School of Business at Olivet created an Entrepreneurship business major. However, most students are unlikely to go out and immediately start a full-time business unless someone provides a significant capital infusion. But it does plant the seeds and allows them to create a plan for the future.
For 15 years, while a professor at ONU, I taught a course on entrepreneurship. We brought in several successful local entrepreneurs, such as Larry Linaman of McDonald’s, Matt Nafzger of State Farm, realtor Jeff Bennett, and Michael Mills from Aurelio’s who provided invaluable advice. We also worked closely with KCC’s SBA Small Business Development Center, run by Ken Crite and Mary Posing.
Research into successful entrepreneurs shows that the prime time to form a business is age 30-35. Of course, there have always been exceptions like Steve Jobs, who, at age 21, formed Apple. Conversely, “Colonel” Sanders started KFC at 62 and was a multi-billionaire at 88.
Businesses are formed in four ways: 1) by buying an existing business, 2) by joining and growing a family business, 3) by buying into a franchise, and 4) the most challenging way, with the highest failure rate, is starting it from scratch.
I worked with Karen Moore when I joined the Center for Professional Development and Public Service in 1986. CPD was the outreach arm of the Florida State University in Tallahassee. At the time, CPD was recognized as one of the top five conference centers in the United States, so it was an honor to be selected.
What I so enjoyed about my six years at Eastern Iowa Community College (1979-1985) and then my years at Florida State, was that I had one foot in the business world and the other in academia. My job was very entrepreneurial in its own right. I was responsible for working with various professors from business, communications, and others to design, and develop courses. I was expected to pay my own way and generate considerable net income for the University. It was indeed a case of “intrapreneurship.”
Now, let me introduce Karen to you in a more specific way. Before joining Florida State, she and her husband had spent time in Germany when he was in the Air Force. When Richard decided to pursue a law degree, he chose Florida State, and Karen came to work with us in the Marketing Department of CPD.
During her time at CPD, it became apparent she was a master of networking, had a professional presence, and yet a very warm and engaging personality. Since she eventually planned on starting her own business, her skills, networking, and reputation while at CPD grew in Tallahassee and within the State of Florida.
Key Lesson One: In your early years and jobs, develop yourself, skills, and contacts. This is an essential lesson for any young person considering starting a business. Use any job you take out of college to build for the future. Working for someone else for several years is a great idea to gain financial stability, skills, and especially contacts
Key Lesson Two: Know your values and stay focused. Karen says, “When I started Moore in 1992, I was a one-woman show with a laser-focused vision to create a powerhouse agency led by strong ethics, integrity and unparalleled customer service. Today, Moore employs more than 40 communication pros with five core practice areas—advocacy, social, digital, Latino, and financial—and a client list that represents some of the most trusted companies in the country. But our values remain unchanged.” Her clear articulation of core values and having a laser focus is another critical lesson we can learn from her experience.
Key Lesson Three: When you start hiring, hire the best and brightest and be an inspiring leader. Karen says: “As CEO, I have guided Moore’s steady growth by cultivating a culture that attracts and retains the best and the brightest talent and clients. We are a group that is connected in our commitment to excellence and drive for quality.”
Key lesson Four: Don’t try to go it alone. Form partnerships and coalitions. For over 30 years, her passion has been has been advocacy. Karen continues, “Moore has built more than 50 coalitions and networks representing hundreds of organizations to successfully advocate for state and federal priorities to impact public policy. It involves identifying potential stakeholders, identifying a need or challenge, creating opportunities for collaboration, building alliances and networks, establishing a brand, and then engaging and activating those champions.”
Key Lesson Five: Do more than networking. Also, give back to your community and travel to broaden your background. She serves on several nonprofit boards when she is not at the Agency. And broaden your horizons. She and her husband, Richard, have visited a total of 100 countries, from Peru to Mozambique.
Next time, we will continue with some precise advice from Karen on how to grow your business.
Don Daake, MBA, Ph.D. is Professor Emeritus at Olivet. He and Karen worked together at Florida State University in the late 1980s. While at Olivet, Don taught courses in marketing, advertising, entrepreneurship, statistics, and business strategy.
Karen B. Moore, APR, CPRC CEO is the founder of Moore, Advocacy, Public Relations, Crisis Communications based in Tallahassee. She has won numerous national and Florida marketing and PR Business awards. She is the author of the popular book “Behind the Red Door: Unlock Your Advocacy Influence and Success.” She is a widely sought-after speaker and has spoken to over 250 groups around the country and the world.
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