I have news! It’s about our business expansion! Switzer has acquired a title that is well respected in the beauty and fashion world – RUSSH magazine.
The opportunity presented itself via phone from Sydney the very day we were walking back to Manhattan over the Brooklyn Bridge. I mentioned this inspirational walk in last week’s blog. The bridge itself is such a fine architectural structure and the lateral view of Manhattan is breathtaking.
Looking at New York from such a different angle (with mobile pressed to my ear) had a far-reaching effect on me. Our stable of books and magazines had never included fashion and beauty. We’re edging into lifestyle via this website but the opportunity to take on this coveted magazine, which has an international cult following, held appeal. In the many years I’ve run a publishing business, our constant aim has been to produce excellence in design and editorial – but moving the business in this direction needed consideration.
Pausing on one of the iconic bench seats so often photographed, I let my mind examine the decades I’ve been in business. The right side of the brain was committed to this new venture – the left side was giving me all the reasons not to do it!
And then two overwhelming experiences rose up in my memory as I fixed my eyes on the dual icons of the Chrysler building and the Empire State.
We have always specialised in business and finance publishing. We are, and always will be, committed to our clients and to developing long-term relationships. One of our core values is to respect and support our clients. But no matter how hard we’ve tried over the years and how much work we have done, we have lost business because of the internal decisions of a ‘Johnny come lately’.
My team here once supported an association that was going through the most appalling internal chaos that would have totally shocked its members if they’d known. Through all this, like a rock, we stuck by them, going beyond the call of duty.
Then, enter a real Johnny right through the door tagged ‘I am totally into me’. Exit the loyal publisher. Where does the much loved (by us) business magazine end up? In a house that publishes digital and video game magazines! So much for all our knowledge and experience of business and finance!
Next story. We work with a client for two years agreeing to discounted prices, all the time lured by their ‘promises’ of being seriously considered for their publication when it came up for tender. Were we seriously considered? No! another Johnny moves in via the same door as the last and this business publication ends up in the stable of fashion and beauty magazine house!
At this point of my extended time on the Brooklyn Bridge bench, the lights (literally) came on in the Empire State Building. Simultaneously, my right brain lit up and overtook its more rational side. ‘It’s time for Switzer to diversify’ seemed to blaze across the Manhattan skyline. I saw my business differently that day, and now it’s time to do things differently.
We will always be business and finance experts. We’ve worked hard for 30 years to develop this knowledge and niche. But as the trolleys laden with fashion items and beauty products are wheeled past my desk by the endless parade of couriers, it’s exciting to contemplate the future.
As they say, there’s nothing more powerful than brains and beauty.
Important information:This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.
We're giving you FREE access to find out which stocks our Switzer Report experts think have the highest upside in October and beyond!