Business Success in Tough Times
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Business Success in Tough Times
The economic picture around the country has gotten bleak. Business consultants Neil Raphel and Janis Raye have profiled companies, including some in the St. Johnsbury area, that have faced very difficult situations and have succeeded.
Their brand new book, Business Success In Tough Times (co-authored with Adrienne Raphel), tells the stories of several area businesspeople who conquered the odds when they were forced to deal with business hardships. From the hundreds of businesses they researched for the book, they highlighted nine strategies for business success that were common across industries. These are: Adaptability, Collaboration, Customer Service, Diversity, Growth, Loyalty, Niche Marketing, Perseverance, and Planning. Each chapter ends with five ideas businesses can use to succeed when they face tough times.
In the chapter on Diversity, they profile St. Johnsbury Academy at the time 30 years ago when the school needed to bolster its declining boarding program. Faced with the challenge of whether to eliminate the boarding program entirely, Headmaster Bernier Mayo and Admission Director Jack Cummings made what was a bold step at that time -- going to the Caribbean and Asia to find new students. Their efforts paid off for the school far beyond what they had anticipated.
The St. Johnsbury-based business, Classic Designs by Matthew Burak, is offered in the book
as a prime example of Niche Marketing. The company moved from its roots as a custom furniture maker to a manufacturer of table legs. Over the years, the business has grown tremendously, and sales from their catalogue and Internet site, tablelegs.com, continue to increase despite the weak economy.
St. Johnsbury broker Larry Cippolone helped Raphel obtain an interview with the head of the national brokerage firm Edward Jones. Jim Weddle, CEO of Edward Jones, speaks frankly in the book about knowing who their target customer is and meeting their needs. The philosophy of Edward Jones is to do what they know well, and not try to be all things to all people.
The book also profiles other North Country businesses, such as Lancaster,New Hampshire manufacturer P. J. Noyes, the business
district in Gorham, New Hampshire, and a group of Hardwick entrepreneurs. Their stories about Planning and Collaboration are interesting examples of how small businesses can compete on a larger scale.
Business Success in Tough Times also looks at companies across the U.S. The businesses in the book span a wide variety of industries, including real estate, high technology, retail, medical, travel, hospitality, and many more. Large nationwide companies 
such as Netflix, Disney, and Hilton Hotels are profiled, along with small businesses such as a coffeehouse in New Jersey, a printer in Texas, and an insurance agency in Michigan.
Raphel and Raye have presented a seminar on the topic twice in the local area, at Lyndon State College and at the NVDA office in St. Johnsbury. They continue to address more audiences throughout 2009 on the topic.
Contact Neil Raphel at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. for more information.
