Kindly give our readers an introduction to your business. Please include what your business is all about, in which city you are located and if you have offices in multiple locations/ cities.
Memories Renewed is about preserving precious moments to be shared with future generations. We digitize older media formats such as photos, slides, negatives, videotapes and film so that the images can be shared on digital devices and preserved before the original materials deteriorate..Based in Fridley Minnesota, our professional archivists have been serving customers for over 20 years. The company is honored to have been chosen as Best Scanning Service by Wirecutter in 2016 and featured in Consumer Reports “The Best Ways to Preserve (and organize) Your Photos,” in the November 2022 issue.
· Kindly give us a brief description about yourself (it should include your brief educational or entrepreneurial background and list some of your major achievements).
Most of my professional career was in technology consulting and marketing at companies such as Accenture and Salesforce. My accomplishments include developing patented software applications as well as serving as a innovation strategist for one of the world’s most innovative companies.
· What inspired you to (start a new business venture) or (to make significant changes in an existing business)? How did the idea for your business come about?
After 35+ years in professional services working for large organizations, I was looking to invest in a small business that served the community more directly. Personally, I had my own collection of old films that I wanted to restore. I took them to Memories Renewed and they did a fantastic job. More importantly, the emotions it stirred when I was able to see long lost relatives made me want to share that powerful experience with others. Memories Renewed has such a great reputation for service and quality and I wanted to see that continue. So when I had the opportunity, I enthusiastically purchased the business.
· What three pieces of advice would you give to budding entrepreneurs?
Years ago I attempted to start a business from scratch and it was difficult, to say the least. What I discovered with Memories Renewed is that there are many fantastic small businesses already off the ground that are looking for new ownership. Don’t overlook acquisition entrepreneurship..
· What would you say are the top three skills needed to be a successful entrepreneur?
Initiative. Don’t worry about what you don’t know. Just get started and find the resources (financial, legal, technical) who can help you navigate the process. It’s fun and you will learn a great deal.
· How many hours do you work a day on average?
I love what I do and really enjoy the team we have at Memories Renewed. I work , on average, 8 hours a day.
· To what do you most attribute your success?
My team. I have a wonderful staff who care about the customer and their craft.
· How do you go about marketing your business? What has been your most successful form of marketing?
Historically we have grown organically primarily through referrals and word of mouth. In recent years, we have been fortunate to receive very favorable press coverage in places like Wirecutter, Consumer reports and Better Homes & Gardens.
· Where did your organization’s funding/capital come from and how did you go about getting it? How did you obtain investors for your venture?
· What is the best way to achieve long-term success?
Stay focused on the customer. Maintain high standards. Build relationships not transactions.
· Where do you see yourself and your business in 5 – 10 years?
I see Memories Renewed continuing to set the bar for quality service in this industry.
· Excluding yours, what company or business do you admire the most?
I admire companies such as Nordstrom, REI and USAA which excel at customer service.
· How important have good employees been to your success?
Extremely important. Providing high quality archival services is a labor intensive business. The source materials are fragile and need to be handled with care. Our employees take pride in their craft and treat the materials as if they were their own.
· How long do you stick with an idea before giving up?
You have to listen carefully to the feedback you receive when testing out a new idea or process. Does the feedback really refute the idea or is it simply a reflection of how well the idea was executed? You can fix the latter.
·What motivates you?
Seeing customers get emotional when they re-experience their memories. Often it may have been from media, such as film, that they have not been able to see for decades or perhaps they have never seen before. Creating that moment for customers is what motivates me.
·What are your ideals?
Do the right thing, even when no one is watching. Treat everyone fairly and with empathy. Don’t sweat the small stuff.
·How do you generate new ideas?
We have a daily huddle with the staff to review the day’s priorities. Almost daily, we’ll discuss a new customer situation that requires us to think about new or creative ways to solve them. From those discussions, new ideas emerge.
·How do you define success?
Satisfied customers, high performing team, financial success.
·How do you build a successful customer base?
I have to give credit to the prior owner and founder for building the customer base. He did it through service, and
·What is your favorite aspect of being an entrepreneur?
Having the independence to set your own agenda is my favorite aspect.
·What has been your most satisfying moment in business?
We have had several customers say that we provided the best service of any company they have ever dealt with at any time in their life.
·What do you feel is the major difference between entrepreneurs and those who work for someone else?
The amount of energy and time you get back when you are not trying to please someone else.
· What kind of culture exists in your organization? How did you establish this tone and why did you institute this particular type of culture?
Clear roles and individual responsibility. Everyone in the shop knows the role and the work in their queue. Everyone is entrusted to get their work done without being micromanaged. When problems arise, everyone pitches in to help solve without seeking to find fault with any individual.
·In one word, characterize your life as an entrepreneur.
Learning.
·If you had the chance to start your career over again, what would you do differently?
I’d become an entrepreneur earlier. My corporate career was wonderful and I learned a great deal but wish I would have left twenty years earlier.
·How has being an entrepreneur affected your family life?
Being an entrepreneur has given me much more control of my schedule. For years I travelled a great deal and that put stress on me and my family.
·What is your greatest fear, and how do you manage fear?
Fear? I’ve stopped worrying about things I can’t control and have faith that I’ll adapt as best I can to challenges as they occur.
·Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur?
No. I think there are many ways to be an entrepreneur. In some respects, believing there is a pattern they have to conform to keeps some people from trying and succeeding.
·Who has been your greatest inspiration?
My father and close friends who started or purchased their own businesses. They showed me the way and gave me the confidence to do it myself.
·How can you prevent mistakes or do damage control?
We prevent most mistakes with good process but you can’t prevent them all. The most important thing is not to overact. Keep calm. There is always a way to remedy a situation.
·What sacrifices have you had to make to be a successful entrepreneur?
I’ve certainly sacrificed some stability and income leaving the corporate world but have no regrets. The independence and energy I get from being an entrepreneur more than compensates for those things.
For more information Visit us at : https://www.memoriesrenewed.com/