Universal Hosts 2nd Regional Power Breakfast (July 2011)

From the Commercial Appeal:


About a dozen years ago, concerns about his approaching retirement led Circuit Court Judge George Brown Jr. to pursue a new career.
Wanting to provide a lasting financial legacy for his family, Brown decided becoming a small business owner would serve him -- and them -- well.
"It wasn't that I had a business degree or any experience, but I wanted to leave something behind and the truth is, you can't leave your family a judgeship in your will," Brown said. "So I put together a good team, we bought an existing business and today we're doing OK."
In fact, Brown is doing better than OK. After purchasing Memphis Chemical & Janitorial Supply Company in 2000, Brown worked part time with the business until he retired from the bench in 2005. Since then, he's taken the company from yearly sales of around $500,000 when he bought it to more than $7 million in annual sales today.

He shared some of the lessons he's learned during "Keys To The C-Suite: Competitive Strategies for Winning Corporate Contracts" at the University Club on Friday. The event was sponsored by the Universal Commercial real estate company as part of its regional power breakfast series.
Joining Brown at the event, which attracted more than 100 business and community leaders, was retired FedEx vice president Mary McDaniel. In addition to putting together a solid business team, Brown advised entrepreneurs to develop strategic alliances with other small business owners and maintain strong relationships with bankers and financial advisers. And be sure to fully understand corporate culture before trying to secure big business contracts, Brown added. "The bottom line is that corporations are in the business of making money, they're not charitable organizations," Brown said. "That means you don't need to go in there saying that you're black and proud or owned by a woman or that you've been discriminated against. Go in with a value-added proposition that'll help a company save money and that will get you the account."

McDaniel, who spent three decades at FedEx, agreed. "Never in my many years at FedEx did I ever see anyone get a contract who came in simply presenting themselves as minority or female-owned," McDaniel said. "If that's all you've got going for you, it's not enough. You've got to be the best at what you do and offer a better service or product than your competition."
There are no shortcuts to business success, the two agreed, but the outlook will be brighter and the possibilities greater for those who are willing to work hard and be involved in their communities.
And that's a message that City Council member and Memphis City Schools math teacher Edmund Ford Jr. said he tries to impress upon young people.


"At the end of the day, you have to make sure you're the best at what you do in order to compete successfully, whether it's in Memphis or nationally or even internationally," Ford said. "I tell my students at Central High School that their world is not finite and confined to a single neighborhood. There are a lot of opportunities out there, but you've got to be prepared to capitalize on them when they arise."

-- James Dowd: (901) 529-2737

Regional MBE Power Breakfast
What: Forum focusing on banking and access to capital for minority and women-owned businesses
When: 7:30 a.m. on Aug. 5
Where: University Club, 1346 Central
Cost: $15
Details: Call (901) 414-3315, ext. 2