Lisa Lickert: 10:36
2011, you.
John Corcoran: 10:37
Know, so.
Lisa Lickert: 10:38
End of 2010, 2011 type of time frame. And it was, you know, we were our biggest publishing partner. We were in custom publishing as well as Forbes and USA Today in Bloomberg. And at that time, we were the exclusive creative firm for the Chicago Cubs because we did their publication, their magazine Fine Line. Okay. And so we were really heavy in custom publishing and native advertising.
John Corcoran: 11:09
And other than that, this was a movie. There’d be foreboding, foreboding music of the looming digital transformation that’s like coming down the pike. But I’m wondering, like when you acquired it, did you foresee that that was a big threat or you did?
Lisa Lickert: 11:27
Yeah. I acquired it because all of the relationships we had in that time were primed to move us to digital.
John Corcoran: 11:34
Okay. Okay.
Lisa Lickert: 11:35
So, you know, when you think about moving to digital and when you’re heavy in print, you can’t do it yourself. Right. Unless you’re going to completely revamp your entire business model, bringing in new talent, all of that. Right. So from a business model standpoint, you had to figure out how you transitioned. Yeah. Still paying homage to what your core competency is. But how do you transition? Will you do that with strategic partners? And we had the best in the business.
John Corcoran: 12:04
So we build the talent in-house. You found others like digital marketing agencies and you partnered with them.
Lisa Lickert: 12:11
We leveraged the in-house departments of our publishing partners. So how do we go digital? Well, we worked with the digital department of Forbes. We were already in Forbes print. So how did we start going? Start going digital. We then collaborated with the digital departments of Forbes.
John Corcoran: 12:33
And did that require some education? Like sometimes, if you know, if clients think of you as 1 in 1 category, it can be difficult to educate them that you have other capabilities.
Lisa Lickert: 12:45
But when you have the brand equity of Forbes behind you, it was not a hard credibility play like we built credibility instantly in that space because who we were doing it with was Forbes Digital. So they already had, even though they were print based, such a massive brand that that credibility. So we really were on the shirttails or coattails of that other organization. And that’s how we got our we birthed it, you know, we got our start into digital. And then you.
John Corcoran: 13:16
You seem like a very positive person, but there must have been a part of you or maybe other people, like in your, in your ears, you know, articulating some of the fears, right? You know, or there must have been a part of you thinking like, oh, no, like, you know, if our revenue is coming from print, are we going to lose all that? You know?
Lisa Lickert: 13:36
Absolutely.
Lisa Lickert: 13:36
And so, you know, it was a parallel path where we were diversifying our portfolio of services. So how were we working with our clients? We are very project based. And we started to, you know, started to really work into that retainer model. So there were a number of things happening. Not just that print, not just right. It’s a huge transition. Not just that, you know, print to digital, but it was also the financial model. Right. Going from a project shop to a retainer based business. Yeah.
John Corcoran: 14:10
So it’s actually a very positive change from a business perspective for you.
Lisa Lickert: 14:16
And for the clients, because it wasn’t a start stop. So they could have some predictability in their marketing flow as well as their sales pipeline build. So, you know, when you start and stop with projects that you buy, bad marketing is really all you do when you’re really focused on more project based types of things because it’s what it builds and it gains momentum. So you need to have a strategy and you need to have a roadmap if you will, versus these starts and stops. So what we identified as our clients were buying bad marketing because they were just, you know, trying different things all the time.
Yeah. And so we serve small businesses. And so usually the business owner is very involved in the sales of that, their business. And so we identified that pretty early on. And we started to really speak to that owner of the business in a different way before we were selling to, you know, selling to people within the organization, we really started to work with business owners and really help identify growth strategies. And then how can we arm them with the information and tools and initiatives to succeed now?
John Corcoran: 15:27
This EMI had been in business for 30 years. You step in as the new owner. What was that like stepping into the existing team and taking over? Was it difficult to, you know, to win them over and, you know, earn their respect and have authority with them? with them. What was that like?
Lisa Lickert: 15:50
Yeah. I mean, I walked into an old school advertising agency without any background in advertising. I knew business. I knew.
John Corcoran: 15:58
This woman.
Lisa Lickert: 15:58
Yeah. Yeah, I knew business. I knew how to grow business. I knew how to develop high performing teams. I knew that, but that doesn’t mean I could apply it within that culture, that environment, that business. And so I worked in the business before I bought the business, which did help build a little bit of credibility, I believe, with the team. But it was, you know, it was a time where you dial for dollars. It’s advertising. Right? So it’s a very different culture.
It was a bullpen mentality. We had the agency side, but then we really had more of that kind of almost that broker type of feel. And so it was very challenging. And in that model that, that, that advertising industry, there’s high turnover. So we had some you know, we had some folks that were long term incredible people, incredible what they do and just tough nuts to crack. So, you know, it was really hard building relationships. And it was really hard kind of figuring out who was truly in the organization long term. You know, the ones you think turn out not to be. And then you have some surprises with some other folks. And so it was really challenging.
I mean, I don’t think it’s simple no matter what, if you do a merger or an acquisition or whatever the case is, you always have challenges, but your number one asset is your people, and you just have to go all in and really focus in on making sure that that is your top priority right now.
John Corcoran: 17:31
You had an extra challenge that a couple of years into it, you’re the previous owner decided they wanted to try and get the business back, tries to do a hostile takeover, and you end up partnering with a private equity firm to fight that off. So tell us a little bit about that experience.
Lisa Lickert: 17:47
Yeah. So. Well, I went out to recapitalize the business. And so we’re down the streets. You know, I was with bank debt through the acquisition.
So I knew in like year two, year three, I’d probably recapitalize the business. And so I was out doing that adventure. And that’s when he got wind that I was wanting to recapitalize the business and made some, some attempts. And so fortunately, with all of that networking that I did, and then I was out there on the streets, pounding the pavement for recapitalization, I had the opportunity to meet some pretty incredible people I didn’t even know I was fighting a hostile takeover. I mean, I didn’t even know I mean, I knew that that, you know, there were some, you know, conversations and meetings and I had to build a little bit of a different strategy in my recapitalization effort and those types of things.
I knew that, but I was naive enough to not really understand the true depth of what was happening. And one of the owners of the P Group basically said, Lisa, you know, you’re fighting a hostile takeover, aren’t you? He’s an international banker and has seen it all in his lifetime. And so I was like, no, I had no idea. I just knew that I had to navigate through these tough challenges, you know, tough situations and figure out a solution long term.
And so he was wonderful at kind of being a mentor at first, but then helping me really develop a better strategy for the business long term. So it was an incredible learning opportunity. Very stressful. I’m not even sure how I managed to go through day in and day out dealing with all of that. But you know, life is incredible. And so, you know, we were able to manage through it.
John Corcoran: 19:30
I mean for someone who was, you know, raised to be in a traditional role, you were pretty far from it, you know, in terms of what your day to day was like. And, and through this all, you’re raising a special needs child. How do you manage that while, like, holding off a hostile takeover?
Lisa Lickert: 19:51
Well, you know, I have an incredible spouse. It’s tough being married to me, John. I just have to tell you that, okay? So it is hard being married to me. If I married myself, I would have divorced years ago.
But I have just an amazing spouse. His name is Sam. And so we’ve been married now 26 years, and he, you know, he had some opportunities within his career to be able to kind of pull back and be somebody within our home that I couldn’t be at the time. And so I was able to be a little bit of a different provider for our family. He was able to be, you know, kind of that pillar that we needed in the family.
So, you know, it was really wonderful because he’s been able to kind of step up, step back, step into different roles in our family and in our relationship as we need to. But, you know, I also know that, you know, it was hard to get Will here. And we were blessed with one child. And I know that the whole reason is because of who will be. And he’s pretty special, so he’s kind of easy.
No, I don’t say that kids aren’t easy, you know that. But he’s kind of easy to, you know, to, to be a parent of. So he makes me laugh every day and he’s super crazy and it is super tough. But at the same time we have one. I hear about families that have multiple kids with multiple disabilities. You have four.
John Corcoran: 21:14
Kids?
John Corcoran: 21:15
Four kids? Yeah.
Lisa Lickert: 21:16
This one woman I met, she has triplets. And then she has two older kids. And she and four of her five have special needs. And so you think about that, and, you know, God gives us things, and he he he they’re everything’s you know this by talking to me. Everything’s an opportunity, right? You focus on your problems. You only have problems. You focus on your opportunities. You only have opportunities. But yeah, it’s hard. It’s not easy. The ball all the time, by the way. all the time.
John Corcoran: 21:45
And I want to jump back to what I previewed at the beginning. I said, we talk about growth strategies that are working today. And, you know, if you think about where the EMI network is now and look at your website, you have a lot of different capabilities for helping businesses with growth strategies. What are some of the growth strategies that you’re seeing effective today? Because there’s been so much change in digital, in the transition from print to digital over the last 13 years or so?
Lisa Lickert: 22:14
Well, I mean, for us in our space that we work in because we do work with small businesses. So, you know, the budgets are very tight. And, you know, the work that we do has to be the most impactful. So everything that we do is going to focus on that marketing and sales integration. And so that’s key for businesses to keep in mind.
And really have that level approach. We do a lot of work that is pipeline building and sales enablement. And so when you’re talking about small businesses, you’re talking about growth strategies. We’re really going to focus on that. And then those kinds of really fine tunes.
Then some of the digital strategies that we use. Because when you’re talking about sales, as you know, there’s very specific tactics that are successful in that space. But when you’re talking about branding and awareness building and those types of things, there are other digital strategies that you use. So for us, we really lean into more of that pipeline building and that sales enablement. And so, our website has a lot of information.
But the only reason that is the case is because we do customize our approach to the company. And we really are big proponents in that we take the business approach, you know, with what we do. It’s a little bit more of a we have a little bit more business acumen here than a lot of marketing agencies do, which can be sometimes very focused on that marketing conversion versus that business impact. But what we try to do and what we preach a lot is just simplifying, simplifying to the market because there is so much clutter. So if you have a complex approach, a complex offering, if you’re talking about five different things to the same person, you’re going to get shut down.
It’s too difficult, too complicated. They’re too distracted by other things happening in the market. And you really kind of that power of one, right. So you have to really kind of focus on simplifying and focusing on that one. And then that’s when digital is really successful.
John Corcoran: 24:24
Yeah. And do you continue to work with partners, like to do some of the fulfillment of the work that you do, or do you have you built capabilities in-house so that you handle more in-house? What’s your approach to that?
Lisa Lickert: 24:36
Well, we have both. I mean, I had a complete fixed model back in the day, and so everybody was in the house. Every single person. But then you can’t really say you’re not nimble enough. Everything’s changing in the market.
And you can’t be a subject matter expert in every single area of marketing. Right. In sales, you just can’t. Yeah. And so we do have kind of dedicated teams that help support our clients and deliver services.
But we’re pulling in partners based on the needs of our clients. So we have a very custom team for that client that fits the specific needs of that client. So it’s kind of like the outsource model but with a variable cost. So you can again be nimble enough, which our clients appreciate because we’re able to do a lot more for small budgets.
John Corcoran: 25:30
Yeah. And now I’ll bet that you appreciated that you’ve done all the work of making the transition to digital when March of 2020 happened and we had this global pandemic. So how did that impact your business at that point?
Lisa Lickert: 25:45
You know, it really impacted pretty significantly. You know, because a lot of people still, especially small businesses, look at marketing as an expense and not an investment, right. But yet they were all suffering because on the sales side, they still needed to bring in. They needed to bring in business. So we have created a foundation of services that we can continue to help them navigate through those tough times.
But at the same time, you know, it was just as difficult for us as everybody else, but because we were digital, because my staff is across the country and in some of their homes and those types of things, I did not have to go remote. We were already functioning, fully functioning and able to, you know, and able to to help our clients.
John Corcoran: 26:38
Yeah, that’s big.
John Corcoran: 26:39
Advantage for companies that had already, you know, built remote teams or were at least.
John Corcoran: 26:43
Comfortable. Yeah.
John Corcoran: 26:44
Yeah. Yeah. And now you did an interesting thing. About 18 months ago, you actually decided to launch a financial services firm, which is kind of a little bit of a departure from what you’ve been doing so far. What inspired that?
Lisa Lickert: 27:01
So it’s interesting that you asked the last question and this question because they actually relate. So before I share that real quick, what we found and what I found in EMI, I’m the lead strategist. And so I get the opportunity to get to know businesses and talk with other business owners and really kind of roll up sleeves and get, you know, in the trenches with them. And what we found ourselves doing is we really found ourselves talking about business consulting overall. And then because we are where you go to grow, a lot of times as we’re developing growth strategies, it would kind of ooze into this financial component.
And so we would be helping them kind of build some budgets and we would be helping them kind of understand, you know, sales expense versus in ROI and all this kind of stuff. Right. So we dabbled in that just as an agency overall because of the kind of relationships we were building with these business owners. So kind of park that information for a second. And then when Covid hit, I think like every other business out there, you’re just calling all of your clients, how are you doing?
What’s going on? Are you just having conversations because you care about them as individuals, but you also want to know what’s going on in their business to see if there’s anything we could do to help. And I contacted one of our clients out of the D.C. market, Shirley Luu, and she runs a financial services firm. Shirley Luu and Associates. And she’s been in financial services for over 25 years.
And when I contacted her, her story was so very different. So she’s been helping businesses and individuals for years to make their money work for them. But she really focuses on that protection piece. So she’s tripling in size during Covid when the majority of our clients are not. And I financially and very selfishly ask her how she’s doing it.
And so she was able to help me personally and my family and then help me financially in my business. And so working through her and working with her and getting to know her, I developed an incredible friendship. I joke because it’s a friendship. Then we became sisters and then we became business partners. But her story is so important, so powerful.
She as a as a woman, she’s a Vietnamese woman. She’s behind me as an author of IUL ASAP. But she. She lost her husband. He committed suicide in their home in front of her son.
And she knew nothing about their financial situation. And he did not protect anything. So she was basically homeless because it happened in her house with three small children and $100 in the bank. Oh, and she made a promise to herself that she was not going to let another woman that came in contact with her ever be in that situation. So she fought back, and she is extremely successful.
She has over 6000 people in her organization across the US. And so as I was working with her and her mission to teach women to know their money, and then my roots as a traditional woman, a lot of times you don’t touch the money. And so that just I just really gravitated to her and just really we just had a ton of fun together. But what I found is I came back to the Cincinnati market, she’s in DC, and I just started telling my other friends in business, like how she was able to help me and these conversations that I was having with her. And before I knew it, I had clients and a business I don’t know anything about. And so then.
John Corcoran: 30:42
You could sell a lot of different things. You’re pretty good at it. I’m. I’m sold. Like, how do I sign up? You’re talking about women. I’m like, I want to sign up.
Lisa Lickert: 30:52
Yeah. Let’s set up an appointment. Let’s have a talk. But it was just it was just.
Lisa Lickert: 30:55
Kind of fun stuff. And then it became passion work because I found that I was helping. Helping businesses in a way that was pretty powerful. We were helping employee groups. So be a little bit more aware about financial and financial health and financial wellness. And it starts to impact productivity in the workplace.
Lisa Lickert: 31:14
And
Lisa Lickert: 31:14
Just happiness and culture. And so this is all good stuff. And you know I’m opportunistic. So surely it’s like hey you know revenue share. Let’s do these things. And I’m like let’s do it before you know it. I’m in financial services. And so, you know, I have an office here in this market for EMI networks. And so it made sense to, you know, to, to to make this office, you know, also the financial services firm. And then I started building teams around the work that we’ve been doing because I, I can’t do it all.
Lisa Lickert: 31:45
So that’s it.
Lisa Lickert: 31:46
How financial.
Lisa Lickert: 31:47
Services firm started.
John Corcoran: 31:49
And then you have a financial literacy program that you’re launching next year.
Lisa Lickert: 31:53
Yeah.
Lisa Lickert: 31:54
So you know, our motto is to serve, empower, to serve, educate and empower. And you know, everything you do matters. You always lead with service. Right. And so it just seemed very natural to develop this. And one of the things that, you know, there’s a crisis right in this, in this country where people the majority, 67% can’t afford a $400 emergency. 67%.
Lisa Lickert: 32:23
Wow.
Lisa Lickert: 32:25
We have 45, 46% of Americans by the time the interest is applied, and will have over 30,000 of credit card debt. When you think about people that don’t have any type of protection for their family and by way of life insurance or other financial vehicles. And you think about retirement and just saving for retirement when you’re living paycheck to paycheck. And so it’s it’s it’s it. We’re starting this program primarily originally for the employee groups that we’re working with.
Like how do we continue to provide education and serve those employee groups. But we’re opening it up to the masses because it’s an education program that everybody can take advantage of. We’re going to start it monthly in 2025. And so we will broadcast these sessions on a monthly basis. And they will be educational sessions.
There will be an accountability component because we need to make sure that people are learning and growing and developing in their knowledge. It will be free for everyone. And we’re really excited about it. Again, it’s it’s it’s even though it’s a financial services company, it’s not about the money. Again, it’s a passion based business for us. And for me specifically, it’s really about serving in a different way. It’s been fun.
John Corcoran: 33:41
That’s really cool. But that’s a departure. You didn’t expect maybe 4 or 5, six years ago to go in that direction. But that’s really it.
Lisa Lickert: 33:48
Cool. I still wake up.
Lisa Lickert: 33:49
Up going, what am I doing?
John Corcoran: 33:52
It makes it fun and interesting. I want to wrap up. This has been great, but I want to wrap up with my gratitude question. So I’m a big fan of giving the guests an opportunity to make any shout outs. Maybe for peers, contemporaries, you know, business partners, mentors, anyone you would want to acknowledge and thank?
Lisa Lickert: 34:12
This is really hard.
Lisa Lickert: 34:13
Question because fortunately, there’ve been a lot of people that I’ve had the opportunity to to get to know and I’m blessed to have in my life. But I’m going to shout out to Shirley Luu, who’s the business partner I told you about, because when I had contacted her, it was during very tough times and she was such a beacon of light. She is. She’s the Energizer bunny. I always thought I had energy.
I cannot keep up with her. She’s so energetic. And she leads with her heart. And she gives so much of herself to everybody. And the things that she’s been able to do for me and my family, just without even trying is just amazing.
Open arms. When I go to DC, I don’t stay in a hotel. I’m in her house, which is a ridiculous home, by the way. But it’s what I call a resort. The last resort. But I’m in her home and cooking dinner in the kitchen together, and. And it’s just that she’s just a wonderful woman. I don’t think she realizes how much she inspires people. And I don’t think she realizes how important she is in people’s lives. I’ve learned more from her.
I helped teach her some of the business strategy side because she’s really focused on that people and that relationship side. But I’ve learned so much from her just about life and just appreciating life. And she’s really impacted me greatly and I’m just so thankful for her.
John Corcoran: 35:42
Very cool. Where can people go to connect with you and learn more about EMI network and also the financial services company?
Lisa Lickert: 35:50
So our website is EMI Network.com. If you click on the calendar link, it will actually sync with my calendar. So we can always chat that way. Obviously we have an office phone. Check us out on social media. We’re on all of the platforms for Unique Growth. Its uniquegrowth.org is our website for Unique Growth. Again the same thing. And check us out on all the social channels as well.
John Corcoran: 36:16
Awesome Lisa thanks so much. Thank you.
Outro: 36:22
Thanks for listening to the Smart Business Revolution Podcast. We’ll see you again next time and be sure to click subscribe to get future episodes.