Kimberly Martinez has a history of finding success in disaster. After she lost her job in 2002, she and her sister-in-law capitalized on the post-9/11 security craze to launch a business called Bonitas International, which sells ID badge jewelry. People snapped up the fancy BooJeeBeads lanyards, and revenue rose fast, hitting $2 million in 2008. Headcount reached 13 people.

Then the recent recession hit hard. In late 2008, Martinez realized that — amid widespread layoffs and reduced hours — she was providing the lone full-time paycheck in 70% of her Ohio-based employees' homes. That would be OK if business were thriving, but in January 2009, orders sank 50% from the year before.

Faced with such a crisis, many people would have cut staff. But not Martinez. She doubled down. She hired someone to track cash flow. She hired a marketing team to find new outlets for her wares. Now, thanks to their efforts, business is on track to grow in 2010 and, thanks to her decision, five more Americans have jobs. "Creating a job feels like winning," she says.

Read it all.

Filed under: * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

1. John Wilkins wrote: She’s not wrong, but the main point seems to be encouraging confidence.  When there is no confidence, who steps in?  Keynes had the answer. The military seems to do well at offering jobs and giving people health insurance on the government tab. November 20, 9:22 am | [comment link]

2. Timothy wrote: For those knowing a similar small business that could benefit from improved cash flow and marketing, please remind them of SCORE and the Small Business Development Centers in all US states and territories. Assistance in most cases is free. Just google SBDC and the state name. November 21, 11:28 am | [comment link]

Registered members must log in to comment.