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ENTREPRENEURS TO WATCH: TAMPA BAY
Postcardmania
Joy Gendusa
Being a good parent is what motivated Joy Gendusa to eventually become a successful entrepreneur.
Gendusa, 43, a New York native, worked a number of jobs, including selling vacation packages at night and doing typesetting, earning $8 to $12 an hour.
"Anyone I worked for asked why I didn't have my own company," Gendusa says. "Being an entrepreneur was born out of necessity. I didn't like office politics. I didn't like working by myself. I craved a group. So I made my own group."
Eventually, after getting upset at a New York postcard supplier for charging for removing its toll-free telephone number from a postcard, in 1999 she started her own company, PostcardMania, a direct mail marketing company in Clearwater.
After a rough start, PostcardMania landed on Inc. magazine's 2005 list of the 500 fastest-growing private companies in America. The company came in at No. 498, having grown revenue 290% in three years. Its annual revenues have topped $18 million and it has 160 employees. And it is building a new corporate headquarters in Clearwater.
And all of this without an MBA.
"Among the qualities to be successful in business, standard education is not one," Gendusa says. "It's hard work. Being persistent. Persevering through obstacles. I was driven to be successful. I was not going to have a husband take care of me. I was very motivated."
Although she is a self-described control freak, Gendusa says her best decision as an entrepreneur was delegating, by hiring Jennifer Custer as the company's president. Six years ago, Gendusa knew she couldn't afford to hire Custer. But between taking a paycut herself and getting Custer to come in at a lower salary, Gendusa was able to bring her aboard.
Custer has become the operations person, freeing up Gendusa.
"By doing that, it has effectively allowed us to grow and expand," Gendusa says. "I can look to the future."
PostcardMania had been growing steadily until last year. After a revenue analysis, the company discovered it was spending $40,000 a week on marketing, but not getting enough income from it.
At one point, 46% of the company's income came from the mortgage and housing markets. When that slowed down, it stopped marketing to those industries.
"We weren't getting returns," Gendusa says.
The company, which projects 6% growth this year, is now building a corporate headquarters, which nearly triples its current 8,000 square feet, at a cost of nearly $1 million. The building, which is near PostcardMania's manufacturing plant in Clearwater, includes a gym and is supposed to open in December.
Gendusa is always looking to adjust to serve the market. It has created a lower-cost postcard on discount paper stock. It is looking at starting an internal marketing agency in 2009 to help clients with direct mail, branding and other marketing issues.
Gendusa likes going back to her roots when talking about why PostcardMania has succeeded.
"I drove a Chevy Baretta without paint," Gendusa says. "I understood it takes a lot more communication and messages to make an impact on the bottom line than what people think. Customers tell you to spend 10-15% on marketing. Successful business owners market consistently."
EntrepreneurIAL TIP:
Q. From what mistake have you learned the most?
"Revenue last year, April through August, took a dive. We looked at how much money I was spending on marketing. It didn't justify how many leads we were getting, how many customers were added and income produced. After years of growth, we were not paying attention to what was happening."
BY THE NUMBERS
POSTCARDMANIA
Year Revenues % Chg.
2005 $13.3 million -
2006 $16.8 million 26%
2007 $18.2 million 12%
Three-year ave. rate 19%
Employees
2005 100
2006 140
2007 160
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