IBJNews

LEADING QUESTIONS: Startup a study in quick growth

Back to TopCommentsE-mailPrintBookmark and Share
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.
 

ADVERTISEMENT

  • 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?

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1

ADVERTISEMENT