Google’s Executive Chairman, Eric Schmidt, visited Detroit to see the Ideal Group, a construction services and manufacturing firm founded by Frank Venegas in 1979 employs 250 people and generates revenues of $170 million. His story was featured in the Detroit Free Press and The Detroit News.
It’s relevant to Floridians who like Michiganders are economically challenged. If Michigan companies can survive and thrive online using the Internet, Floridians can do so as well.
One of the Ideal Group divisions has used online advertising to grow its business by up to 40% annually for 10 years.
For every $1 spent in online advertising, the Ideal Group earns $19 in return. The marketing plan was not revealed, but look at the website. It’s simple.
The reason for success? Constant advertising activity and marketing that never stops.
“Your economic solution is solved by the fact that the Internet exists,” said Schmidt, who served as Google’s CEO for 10 years before stepping down this spring. “It’s easy to criticize the Internet because it’s not perfect, but you want to think about what life would be like without it.
“Make a longtime commitment to advertising online with a budget. Put it to work for your small business.”
Small Michigan Businesses Sell Local Products Nationally Online
Hartland, Michigan entrepreneur Donna Nakagiri started Cards4Heroes greeting cards for troops, veterans and their families.
Ann Arbor gourmet food supplier Zingerman’s continues expansion with increased revenue and holiday sales online.
In 2010, 43,500 Michigan businesses, website publishers and non-profits made use of Google advertising products, brining nearly $1.3 billion in economic benefits.
Florida Entrepreneurs Should Learn from Detroit
The digital movement began for struggling Michigan companies who sold online out of desperation when the Motor City’s economy started going downhill.
Businesses sold products of all kinds online from sporting goods to tires, to clothing, to food. The goal: get rid of inventory by any means without taking a complete loss.
Liquidation sales online began to show promise and revenue when none was expected. Additional budget was committed to continue the process and billings grew and continue to grow.
Florida does this sound familiar?
Michigan businesses took a chance on getting something when nothing was expected, launched lucrative turnarounds. Committed funds to
How Did it Start?
It began when small companies put up simple, carefully constructed websites and committed to continuous relatively low-cost advertising budgets. The surprise came with the low revenue investment and high ratio for return on investment. The small companies grew quickly.