Here’s another edition of the Unusual Entrepreneur Interviews and today I am very honoured to have gotten this Unusual Entrepreneur in question. His name is Mark Schaefer; he’s the Executive Director of Schaefer Marketing Solutions .

If you are just joining us for the first time, this is the unusual entrepreneur interview series. It is a parade of unusual entrepreneurs who are changing the world and profiting from purpose. Profiting from purpose by changing the world isn’t an impossible dream as many tend to think of it, but a realistic one as many unusual entrepreneurs have extraordinarily proven.

It is my life mission to understand the unusual qualities of such unusual entrepreneurs and inspire as many others to profit from purpose by changing the world. If you’re not yet familiar with our philosophy of unusual entrepreneurs, kindly download our free ebook: The Entrepreneur’s Journey. This is the official manifesto for anyone who wants to change the world and profit from purpose.

Without further ado, let’s begin!

How Unusual Is Mark Schaefer?

Mark W. Schaefer is a globally-recognized blogger, educator, business consultant, and author who blogs at {grow} — one of the top marketing blogs of the world. Mark has worked in global sales, PR, and marketing positions for nearly 30 years and now provides consulting services as Executive Director of U.S.-based Schaefer Marketing Solutions.  His clients include both start-ups and global brands such as Cisco, AT&T, Johnson & Johnson, and the UK government.

Mark has advanced degrees in marketing and organizational development and holds seven patents.  He is a faculty member of the graduate studies program at Rutgers University and is the founder of Social Slam, a national social media event that takes place each April.  He is the author of two best-selling marketing books, Return On Influence and The Tao of Twitter.  In 2012, he was named by Forbes magazine as one of the Top 50 social media “power influencers” of the world. He’s the only blogger who regularly features cartoons on his blog!

Interview Questions Part One

ENTREPRENEURSHIP – Awakening the Spirit of business

1.  Can you please tell us a little about yourself and your business? What do you do?, how do you do it?, why do you do it and who do you do it for?

I’m a teacher, author, speaker and business consultant. I drive the value of my brand by delivering excellent content through my blog, books and speeches, which opens up opportunities for higher-level executive consulting engagements. I do not have a bricks-and-mortar company per se.  All of my projects are staffed by a virtual team of people throughout the world. I assemble the best resources for an individual project and then it disbands when that project is completed. This keeps my costs low and also assures the customers that I can bring in precisely the right talent for their needs.

I have a variety of customers, from Fortune 100s to regional firms, in many industries such as health care, economic development, manufacturing, non-profit, and high tech. Although I am best known for my writing on social media topics, I am a marketing strategist above all.

2.   When you started out in business, what specific idea, purpose or vision was your key driving force?

Money.  Isn’t that the bottom line for everybody?  Of course what I do is very rewarding but before you can cover higher-level needs you have to pay the bills.

I did a lot of research before I started my business to determine my niche. This has evolved over time because I am constantly learning and adapting to market and customer needs. My core competencies have remained basically the same, but my niche today is much different than it was a few years ago because I have adjusted to meet new customer opportunities.

It’s important to have a vision, but it’s more important to listen intently — and honestly — to the marketplace to adjust your plan as needed. The world is changing quickly. If we can’t adapt, it will pass us by.

3.  What would you describe as the purpose of entrepreneurship? That is; what role do entrepreneurs play in the world?

 

I have been in business for 30 years and I am an unabashed lover of business. Business is usually depicted as the greedy villains but you know what? This is what really makes the world work.  Economic recovery will be led by entrepreneurs, not a stimulus package.  Many environmental issues are being solved by companies large and small — not regulations. Given the opportunity, entrepreneurs will solve our energy issues, not misguided government investments.  Even most charities are funded by companies and corporate foundations. So I think a focus on education and entrepreneurship is vital to not just the creation of wealth, but to our entire way of life.

4. What would you describe as your major setbacks and what lessons did you pick from them?                 As far as lessons and setbacks, I think I have been fortunate in that I have made a lot of mistakes — just no big ones!  That is really a key to entrepreneurial success isn’t it? Keep pushing, but don’t drive yourself into the ground. I think my biggest challenge is scaling in a smart way.  I’m at a point in my life where I don’t want to build an empire. I want to have a profitable, growing, business that delivers excellence. But by keeping my operations small by design it gives me less room for error in terms of the projects I accept. That is always a challenge but certainly worth the reward to have that kind of flexibility.

Interview Questions Part Two

STRATEGY – The unusual execution of business best practices

5. Many entrepreneurs complain about not succeeding in business due to lack of adequate funding, what is your take on this matter and how do you cope with funding issues in your business

Funding through traditional channels is a serious problem these days. Banks are still skittish and money is tight. However there are also unprecedented opportunities to get your ideas heard and funded through new web-based models.  I think some of the new crowd-sourcing funding models are brilliant and certainly effective.

These new models I think can also serve as an important feedback loop. Just a few years ago, testing out an idea was time-consuming and probably limited to a few friends and family members who probably aren’t going to tell you the truth any way.  The ability to float ideas to a global audience is an important Darwinian catalyst for either rapid acceptance or rapid failure.  Either version is a gift to an entrepreneur.  Even in a tentative economy the best ideas have a chance.

6. How do you strategically use your time as an entrepreneur? What key activities would you recommend entrepreneurs use their time for?

The keyword here is FOCUS.  There are a million distractions out there. What MUST be done today?

I think this was one of Steve Jobs’ greatest strengths.  When he came back to Apple the company was mired in hundreds of projects and dozens of products. After a short assessment, he said, “here are the four things we need to do,” and ruthlessly cut out everything else.

It takes an incredible amount of discipline to say “no.” But it is an essential skill!

Interview Questions Part Three

MISCELLANEOUS – Resourceful Recommendations, tools, books, and ideas for unusual entrepreneurs

7.     Where there any particular questions you expected me to ask that is beneficial to entrepreneurs and I didn’t? Kindly share with us such questions and their relevant answers here.

Most entrepreneurs want to know … where do I get the best ideas?  How do I find my niche?  When I work with a new company, the first thing I do is listen to their customers. If you do a really good job at this, the customers will lead you to the truth.  Innovation does not have to be some radical new product of business model. In fact, it usually isn’t!  The best business ideas are iterations of existing ideas that are well-executed.  Finding an un-met or underserved customer need and serving it flawlessly … and then doing that again and again is the real key to steady growth.

I had the great honor of studying under Peter Drucker in grad school. He has influenced my thinking a lot when it comes to this subject. I think the most valuable book an entrepreneur could read is his title “Entrepreneurship and Innovation.” It has been on my desk for 20 years!

Your Turn

You’ve met Mark, what lessons did you learn from this unusual entrepreneur?

Share your views below in the comment section.

Thank you for your time!

ONE LAST THING!

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