How My Customer Database Rescued Me
Jason Steed
Owner & CEO
How My Customer Database Rescued Me
Podcast Snippet: Start-up Goes Bust in 2002…Now What?
To set the stage, my business partner in my previous company and I had very different visions for building a company. Such polar opposite viewpoints would ultimately be the demise of the company. So it became a big real reality check when I was left the only guy in town holding the bags, and it was suddenly my name on 100% of the secured loans and the debts. That was a very scary place to be figuring out how I would make good on leased equipment and office costs and…everything.
[Kyle 18:37] So, what did you do?
[Jason 18:41] Almost overnight there was chaos, skepticism, and a smothering dose of reality…questions like, “Who’s where and who owes what, and where are the contracts?” This was a very heavy, scary place to be. And quickly, I had to make the choice either to go in-house or try to build something myself.
Relying on my Customer Database
[Jason 19:35] So there I was, on day one of my newly formed company Targa Media. Not only do I have to take care of the needs of my family with two young children, but I also have to make good on debts and figure out how to stay afloat. I certainly had the option to file for bankruptcy or something to that effect, and I received varying sources of advice on that. And for some, bankruptcy can be a godsend for managing and moving forward. However, I did not choose that path. Instead, I fought through, knowing that I couldn’t burn bridges in Utah; it’s too small of a place where everyone knows everyone else. I just knew I had to have the grit and the courage to talk, negotiate, work through challenges, and make something happen.
“I recognized the value I had for the customers and the vendors who trusted me and were willing to work with me. I made commitments to refer business to them and pleaded for their patience as I tried to build and mature my new business.”
So that was my process of gaining momentum, figuring things out, and valuing the customer database, vendor database, and partner database. I realized that I was working with people, not just company names, corporations, printers, and service providers. These were individuals, and that realization has been, and still is, a driving factor in my journey. The thing that makes me look forward to Monday mornings is the opportunity to work with valued customers and a dedicated staff, and to face new and interesting challenges. I find myself Googling answers every day, just trying to keep up with technology, offer value, and bring rewards into my life and the lives of the people I work with
Full Podcast Episode
You can listen to the full 1:06:30 audio interview from Kyle Knowles at mmmpod.net/jason-steed I’m amazed at how connected Kyle’s and my business worlds have been, and how we made so many of those discoveries during our interview. I had a great time during my hour with Kyle.
Key takeaways:
- Why I wanted to be an entrepreneur
- What it took to rise from the ashes of one business to start another
- How my creative value to our clients has evolved
- How I carve out time as a manager to be a maker