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LEADING QUESTIONS: Startup a study in quick growth

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Leading Questions

Welcome to the latest installment of “Leading Questions: Wisdom from the Corner Office,” in which IBJ sits down with central Indiana’s top bosses to talk shop about the latest developments in their industries and the habits that lead to success.

This week, longtime local public relations professional Vicki Bohlsen provides an example of a startup firm that braved the weak economy and experienced strong growth.

With $25,000 in seed money loaned from her in-laws, Bohlsen founded the eponymous public relations firm BohlsenPR on Feb. 12, 2010, with herself as the sole staff member and plans to hire a couple independent contractors for support. Today, the firm counts 13 full-time employees (including Bohlsen, who draws a salary), one part-timer, and three interns. In its first full year of operation, the company posted about $780,000 in revenue, Bohlsen said.



“It’s been a really crazy year,” said Bohlsen, 45. “I had a business plan, but I really took it day by day, and it just took off.”

BohlsenPR was able to vault out of the gate with a considerable spring in its step. Bohlsen brought with her a stable of clients from TrendyMinds PR, a firm she co-founded in 2008 with Trevor Yager, CEO and founder of the separate marketing firm TrendyMinds. Yager left the PR firm in early 2010 (TrendyMinds went on to develop its own PR services), and Bohlsen renamed it BohlsenPR as she essentially was starting over.

“Some of those existing client relationships grew, and there was more work, and of course I took it,” Bohlsen said. “That meant I had to react to that and hire more people. …  It just morphed.”

In May, the three-person firm moved into 2,000 square feet of office space on the fourth floor of the Morrison Opera Place building at 47 S. Meridian St., setting up card tables as desks.  The seed money from Bohlsen’s in-laws helped the firm cover initial costs. As revenue began rolling in, Bohlsen started fleshing out the staff and refurbishing the space (which eventually grew to 4,000 square feet).

Taking stock of the major startup costs from the first year, Bohlsen listed $30,000 for computers, $35,000 for software and $35,000 for a custom buildout that finally wrapped up in January. Other pricey items included $18,500 for development of the company’s website. Bohlsen estimated total startup-related costs (excluding ongoing expenses) since February 2010 at $172,000.

“Personally, it’s just a great feeling to know that other than the small investment from my in-laws, everything is paid for,” Bohlsen said.

In the video at top, Bohlsen provides a peek inside the firm’s rapid evolution and discusses issues such as avoiding debt, outsourcing some vital functions, and initially embracing the firm’s card-table aesthetic as a kind of corporate identity.
 

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  • Exectuive Chef
    My "start up" catering given was given the opportunity to assist with their anniversary party a few weeks ago. Everyone involved with the company was gracious and obviously thrilled at their the success. We wish them the best and look forward to cooking for them in the future!
  • Start Up Requirements
    While you might debate that a true start up does not have clients on hand at launch, I counsel clients not to quit their day job and start out until they either have clients or are close enough they can truly count on the money. Way too many businesses start up with way too little cash and no source of quick clients, and the result is a disaster. Good job Vicki for having the right foresight.
  • Congrats
    Awesome story. I want to start my own firm one day. Your store gives me encouragement and some direction to follow.
  • Excellent!
    Congrats on the success, but this is not a true start up. Having clients in hand when you start is fantastic, but how many real start ups can count on having clients in waiting?

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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