Cynthia Kay founded Cynthia Kay and Company media production which produces high-quality communications for organizations from Fortune Global 100 to small business. A graduate of Michigan State University, Kay holds a master's in communications from Western Michigan University.
Cynthia Kay is a passionate spokesperson for small business. For more than 35 years, she has spent significant time speaking to, teaching and coaching small-business owners while running her own award-winning company. She is the Past Board Chair of the National Small Business Association (NSBA).
Cynthia and the company have been honoured with many awards including many Tellys and Woman Owned Small Business Supplier of the Year from Siemens in 2018. She has been named one of West Michigan's 50 Most Influential Women five times, and is the recipient of over 30 broadcast awards from UPI, AP, and other news organizations.
CK & CO Cynthia has authored several books. Her newest book, Small Business, Big Success: How to Beat the Odds and Grow a Great Business (Career Press 2024) is available for pre-order and will be on May 6, 2024. She writes for Entrepreneur.com, has been featured in Time Magazine, Entrepreneur Magazine's Ask the Expert and on NPR.
Questions
· We always like to give the guests an opportunity to share in their own words, a little bit about your journey, how you got from where you were to where you are today. Could you share that with us?
· Your book, Small Business. Big Success: How to Beat the Odds and Grow a Great Business. Can you share with our listeners a little bit about that book that you have coming up? And maybe three overarching themes or tenets that the book represents.
· You've been in business for 35 years, so you've been through all phases of a business over 35 years, not to mention the different experiences that your businesses would have had as it relates to the different travesties that the world had gone through. If you were to pick, let's say, one characteristic that you believe was critical for you to ride the waves over all those years to the point where you are today, what do you believe that would be?
· Based on your experience, what would you say are maybe five common mistakes that you find small businesses tend to get themselves into? And if you could give maybe a recommendation for each as to how they could prevent themselves from getting trapped into that common mistake?
· Now, Cynthia, can you also share with our listeners, what's the one online resource, tool, website or app that you absolutely can't live without in your business?
· Now, can you also share with our listeners, maybe one or two books that you have read, it could be a book that you read a very long time ago or even one that you read recently, but it has had a great impact on you.
· Where can listeners find you online?
· Now, before we wrap our episodes up, we always like to ask our guests, do you have a quote or a saying that during times of adversity or challenge, you'll tend to revert to this quote if for any reason you get derailed or there's an obstacle that comes in your way, the quote kind of helps to get you back on track.
Highlights
Cynthia’s Journey
Me: Now, even though we ask our guests to provide us with a bio, which you did, amazingly, thank you so much. And we do read the bio at the beginning of the show so the audience has a good idea of who we're interviewing and what they’re about. We always like to give the guests an opportunity to share in their own words, a little bit about your journey, how you got from where you were to where you are today. Could you share that with us?
Cynthia shared that for her, it's an interesting story, she hoped it will be for the viewers as well. She actually started her career in broadcasting and was working in the TV business for about 13 and a half years. But she always had in the back of her mind that she wanted to own her own business. And she grew up in a family owned business so she saw her dad and how he worked and how much he loved what he did and his customers.
And so, one day when she got fired and her dad always said, “Honey, you're no one till someone fires you.” She decided that rather than go and work for another television station and she had some opportunities to do that, she decided she wanted to bet on herself. And so, that's how she started her business.
About Cynthia’s Book – Small Business. Big Success: How to Beat the Odds and Grow a Great Business
Me: Now, you have a new book that's being published in a few months, it's called Small Business. Big Success: How to Beat the Odds and Grow a Great Business. Can you share with our listeners a little bit about that book that you have coming up? And maybe three overarching themes or tenets that the book represents.
Cynthia shared that she really believes that the best way for people to learn about business is by storytelling. And so, the book has not only her story, but stories of entrepreneurs and experts from all over the country. And frankly, that's what makes it so interesting because we all have stories to tell. But she’s segmented the book into stages and it is starting up, because the challenges at starting up are very different than the challenges for those who are in second stage or mature businesses.
And then she looks at success at operations because she thinks many small businesses, that's a place that's very difficult for them is to really figure out how to become operationally excellent.
And then success at growth because if we don't grow, we're actually going backwards.
And then finally success at stepping out. And someone asked her, “Well, why cover such a broad expanse in one business? Why not just talk out starting up or stepping out?”
And she said, when you take a look at the whole lifecycle of a business, if you understand that, especially at starting up, and you think about where do you want to end up? Are you growing a lifestyle business? Or are you growing a business to sell it?
If you are in a growth phase, what do you need to really think about? Sometimes it's digging back into what made you successful at start-up and visioning the future? And then also thinking about what kind of legacy do you want?
So, for her covering that expanse and she’s been in business now over 35 years, so she’s been through many phases of the business. She thinks has been reflective for her to kind of look at each one of those.
And there's lots of things that she talks about, she’s talked about customers, it's so important that we understand customers and customer services, it doesn't matter if you run a retail operation or a manufacturing plant or a technology company. But she thinks understanding customers, that's a big overarching theme.
Communications is huge, because it impacts so much of our business, and then also leadership, what does it take to lead a successful enterprise?
One Characteristic That Entrepreneurs Need to Survive Downturns in an Economy
Me: So, lots of very critical components that you mentioned in the book to running a business. Now, I know you told us about the overarching themes that the book represents and in your summary just now, you mentioned that you've been in business for 35 years, so you've been through, if not all, well, definitely all phases of a business over 35 years I'm sure. Not to mention the different experiences that your businesses would have had as it relates to the different travesties that the world had gone through, so the pandemic and before that the recession in 2008. So, you'd have had different experiences that different economies would have experienced, that the world experienced. If you were to pick, let's say, one characteristic that you believe was critical for you to ride the waves over all those years to the point where you are today, what do you believe that would be?
Cynthia stated that that one is easy for her. And she thinks this is something that people don't think about a lot, but it's passion. You have to have passion for what you do. If you don't have passion, you cannot survive all of the challenges that you have. She has experienced at least two downturns in the economy and COVID, obviously was huge. But if you don't love what you do, if you don't get up every day, and say, “Wow, what can I do today to make this business better? What can I do today to serve my customers?”
If you don't have that passion, it's easy to get discouraged and she thinks it's easy to give up. And frankly, the businesses that she sees that kind of wither away, it's because they've lost that passion for what they do, it becomes routine and ordinary and in this world, especially in the world of business, you can't survive if it's just same old, same old, you must consistently innovate and to do that, you have to have passion.
Me: So, passion is a number one thing that was able to carry you through. Fantastic, thank you for sharing Cynthia.
Common Mistakes that Small Businesses Make and How to Avoid Them
Me: Now, Cynthia, I'm sure in running a business, there are some common mistakes that sometimes business owners will make, right, regardless of the type of business you're in, whether it's product based or service based. Based on your experience, what would you say are maybe five common mistakes that you find small businesses tend to get themselves into? And if you could give maybe a recommendation for each as to how they could prevent themselves from getting trapped into that common mistake?
Cynthia shared that she thinks the first one is not doing their homework. She thinks so often people believe they have a great idea or a great product, but they're somewhat clouded by their own bubble, by their own world. And so, one of the things that she will tell you is not doing your homework, not going out and saying to someone, not just do you like my idea, or do you like my product? But will you pay for it?
So, that's the first one. And the way that you really avoid that common mistake, quite frankly, is to do your research, and to go out and not be afraid to ask the questions. And sometimes she will tell you, she has put in place some efforts that she had to abandon because while she thought it was a great idea, she didn't maybe do enough of the homework to really understand if it was going to be successful. So, that'd be the first one.
And then the second one is financially, can you really withstand the pressures that it takes. So, when she started her business, the first six months, she didn't even take a salary. And she thinks that's very common for a lot of business owners is that they invest in their business. So, are you able to financially withstand what it takes to be able to get through those first really tough years? So, do you have the financing? Do you have the capital? Can you withstand that interim start-up period where you really need to make sure that you have a lot of cushion maybe is the right way to say it.
The third mistake that a lot of business owners make is that they take whatever customer comes to the door and she made that mistake when she first got started, she was so concerned about is she going to be able to pay the rent, that she maybe took customers that she shouldn't have taken because they didn't align with the goal and the core products and values that they had and that's a hard one is to say no to a customer. But if you're getting customers in the door that are taking up your time and taking up your energy and not going to help you move forward, then she thinks that that's a big mistake. And as a result of having made that mistake after she was in business for a while, she kind of had to send customers away and that's very difficult. So, having a good idea of who that ideal customer is and really knowing that.
She thinks communication is a big one. Frankly, she thinks communication is something that business owners don't really spend enough time on, they believe if they have a great product or a great service, that's enough and it's not. You have to be able to articulate your value, you have to be able to communicate that value to your employees because that's so critical because it's not just you, unless you're going to be a solopreneur, which is fine. But if you're going to build an organization, you have to be able to communicate with your employees, you have to be able to educate them, have them understand what the value is of the business, and then being able to communicate to customers. The number one complaint that customers have today is sometimes they lack the communication from businesses, even if it's simply, “I got your phone call and I got your order, and we'll get back to you.” But being able to communicate and being able to articulate is a big one.
And then she thinks the other mistake that she thinks a lot of small businesses make is they don't build an external team that can help them, because as a business owner, you're an expert in what you do, but that doesn't mean that you're an expert in all things.
And so, building that really critical team of outside resources, she likes to say who can keep you out of trouble because sometimes you get into trouble because you don't know enough. So, having that critical team of people that you can trust and can go to, she thinks that's it. So, those will be she thinks the five things that she would say are really important.
App, Website or Tool that Cynthia Absolutely Can’t Live Without in Her Business
When asked about online resource that she can’t live without in her business, Cynthia shared that when she saw that question, she was like, there's lots of things she can't live without. Cynthia estimated that because of the business that she’s in, they have a tool, it's called Function Point that coordinates all of the efforts. In media production and in communications, consulting, there are so many pieces of every single job that all have to align and being able to track where something is and being able to understand who on the team is doing what, it's a communications tool.
Now, that may be one that it's for creative agencies, but there are other tools. SharePoint, she thinks is a fabulous tool for keeping people really focused. So much of what we do today, there are so many pieces of information and keeping it organized she thinks is the biggest nightmare or it can be the biggest advantage. So, some sort of a communication tool that allows you to track and be able to measure where you are is really critical.
Books that Have Had the Biggest Impact on Cynthia
When asked about books that has a great impact, Cynthia shared that there are two that she really loves. And the one is Good to Great: Why Some Companies Make the Leap and Others Don’t by Jim Collins and she’s read that book maybe twice and should go back and read it again. But the reason that she loves that book is that she thinks there is such a difference in just being good and really having a company and growing a company that is excellent. And she thinks today good is just the baseline, everyone expects if you're in business that you're good, but can you be great? So, that's one.
The other one that she really likes is The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen Covey. We as people sometimes think we're effective, but we might be missing something. So, those are two that she really loves. And she'll be honest, she hasn't been doing a lot of reading lately, mostly because she’s been doing a lot of writing, so, she’s been reading her own book. But she does have a list of other books coming up that she would like to read.
And then there's one other one that over the years she’s kind of steered people to and it's called Leaders Eat Last: Why Some Teams Pull Together and Other Don’t by Simon Sinek. And she thinks so much of the success of organizations and businesses really rests with how effective is the leader, because the business takes on sort of the personality of the leader. So, that's a book that she always recommend because she thinks this idea of servant leadership is one that really can catapult an organization ahead.
Where Can We Find Cynthia Online
LinkedIn – Cynthia Kay
Website – www.cynthiakaybiz.com
Website – www.thinkck.com
Quote or Saying that During Times of Adversity Cynthia Uses
When asked about a quote or saying that she tends to revert to, Cynthia stated that it's interesting, there are so many quotes that she loves, but her father was a huge influence in her life and there's a quote that her dad always used to say when she faced adversity, and she was struggling and didn't know what to do and he would always say, “Do what's in your heart.” And she really believes that if you look inside, you often know the answer. And so, that's one that she always remember, her dad always said, do what's in your heart.
And his second favourite one was, “They can't pay you enough money to do a job you don't love.” And so, that's her second one.
Me: I love it. Is the second one attributed from your dad as well?
Cynthia said absolutely. He was a wonderful businessman. He ran a small business with his two brothers and so much of what she thinks, they learned, they learned by osmosis. She learned a lot about business by watching her dad.
Me: That's fantastic. So, thank you so much for sharing those two quotes, we'll definitely have them in the show notes of this episode.
As we wrap up our episode, we would just like to extend our deepest level of gratitude to you for taking time out of your very busy schedule and coming on our podcast today and sharing about your journey, a little bit about your new book that will be released in May of this year. For those of our listeners that would love to tap into that resource, we'll have Cynthia's contact information in the links for the show notes of the episode so you can definitely follow along and just be abreast of when the book is going to be released and the different platforms that it will be available on so thank you again, Cynthia for coming on and we wish you all the very best.
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Links
• Good to Great: Why Some Companies Make the Leap and Others Don’t by Jim Collins
• The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen Covey
• Leaders Eat Last: Why Some Teams Pull Together and Others Don’t by Simon Sinek
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