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ChrisCooper
NewMarket Research Associates | ccooper@newmktresearch.com | Managing Partner | 01/03/2003 | Executive
Chris Cooper is Managing Partner of NewMarket Research Associates##comma## a full-service custom research and marketing strategy firm.
What kind of training or education did you acquire before your venture?
I have over twenty years##aps## experience in assisting corpoorations to better manage their operationing and marketing challenges. For the past eight years I have focused on using critical information gathered through original research as the foundation for successful strategies.
What services or products does your organization offer?
NewMarket Research Associates provides quality custom market research##comma## investigating and quantifying the factors influencing the buying decision in B2C and B2B categories##comma## and we do it at a substantial discount to national firm pricing.
What type of business or organization do you operate?
NMRA is an LLC. I have a $40M corporate partner that provides support. The LLC structure allows us to better manage both the tax and general liability issues.
How many employees do you currently have?
We started with 5 employees##comma## plus access
How did you originally discover the idea for your organization?
While VP of a national research firm##comma## I started asking the question of why none of the national firms were willing to be the low-cost provider of quality research services. Seemed like a real opportunity – if demand exists at $35K per project##comma## why not $25K for the same work?
How did you originally fund your organization?
Funding was provided by my corporate partner.
Are you the founder of your organization?
Yes.
Do you believe there is any distinct culture within your organization? If so, please describe it.
Very laid-back##comma## in terms of day-to-day operating pressure. Hours are not the issue here##comma## but work accomplished. When projects are due##comma## we do whatever it takes.
What obstacles or challenges have you faced in your organization?
Educating new employees to exactly what full-service research is. Training the call center personnel to perform quality telephone surveys. These are managed by time and concerted effort.
Did you accept any advice along the way? Do you believe new organizations should be open to such advice?
Critical – wisdom gained through experience – many young persons simply don##aps##t have time to get twenty years##aps## worth of knowledge##comma## but they can buy it.
Did you receive any help along the way from other businesses or organizations? If so, how and from whom?
None at this point.
What have been the keys to success in your business? What do you believe are the keys to success?
Building awareness of who we are and what we do. Delivering on our promises. Doing the job right the first time.
What kind of relationship do you establish with your customers or clients?
I think so – my pricing is still thousands below other firms.
What types of marketing do you employ?
Personal sales efforts##comma## word-of-mouth.
Do you employ any web or online marketing?
We use sophisticated software to tabulate and analyze data. Are looking at using the Internet to collect data.
What role does trust play in business or in your organization?
Do not assume people understand what you say the first time you say it.
Did you struggle with starting your own organization or venture? Why did you decide to begin on your own?
I have often wanted to own my own firm##comma## or at least have sufficient responsibility to plan and carry out corporate strategies.
What books or resources would you recommend for individuals starting off now?
Predatory Marketing by Britt Beemer. Focus by Al Ries and Jack Trout. Anything by Covey.
Do you notice any trends in the marketplace? If so, what are they?
Major corporate layoffs are creating out-sourcing heaven for independent consultants and small firms that can think and act quickly without charging an arm and a leg.
Do you believe networking and contacts are important? If so, how?
One of the three most important activities you can do.
What do you think about contracts and other legal obligations? Are they important in your business?
That people do business##comma## not companies or buildings or organizations and certainly not committees.
If there is one thing that would sum up your advice to new entrepreneurs, what would it be?
Extremely high. Education credentials tell a great deal about what kind of person you are##comma## in terms of perseverance and achievement. It also sets a standard for knowledge. However##comma## it is a platform##comma## foundation##comma## and not the real building itself.
What, if any, final advice do you have for new entrepreneurs?
Try to begin each day by doing the most important things first. ##aps##Course##comma## you gotta know what those are.
