The CEO of 6 Degrees magazine Mike Melfi came in and describe to us what it’s like to run a young, hip business at a young age. 6 Degrees magazine is an urban lifestyle based magazine available in Detroit as well as other places such as Miami. Melfi started going from business to business himself and asking if he could leave copies there and grew to a multi-channel magazine that also host a ecommerce site directed at 6 Degrees’ target market.
The major lessons Melfi left us with are:
1. You’re either selling or being sold. So get to selling.
2. You can’t win a championship on your own. Surround yourself with good people and treat them good and it’ll produce a return.
3. Don’t bite off more than you can chew. When asked why he hasn’t gone national, Melfi admitted he didn’t have the infrastructure to do so. It drew back to the when the owner of Small Plates said he could have grown but didn’t because he didn’t have the key people in place to do so.
4. Don’t reinvent the wheel, there is research and practices already out there. Use that, don’t do it on your own.