Name of company:
Polaris Direct
Name of woman leaders: Suzanne Lampognana and Judith Maloy
Based in: Hooksett, N.H.
Description: High volumes of personalized direct-mail processing for
Fortune 500 companies and direct-marketing agencies.
Began: 2003
2003 sales: $2.1 million
2007 sales: $43.5 million
What was the inspiration for your business?
Tom and Suzanne Lampognana and Joe and Judith Maloy all had expertise in the
direct-mail field. They initially tried to buy a direct-mail business, but when
that plan fizzled, they launched their own company in 2003.
How much did it cost to start the business?
"It cost us our shirts and a little bit of our 401(k)," Judith Maloy says. In
fact, it took $1.5 million to start the company, including $1 million in bank
loans.
How did you grow your business so rapidly?
Maloy credits customers who had done business with them in the past for the
firm's initial success. "They gave us business to start," she says. "As they
realized we'd be able to follow through and deliver, they gave us more
business." As Polaris' reputation grew, other companies followed. Additionally,
as a woman-owned business, Polaris has access to a directory of corporations
accepting Women's Business Enterprise National Council (WBENC) certification.
How do you balance your family and business responsibilities?
Maloy and Lampognana agree that they never completely shut off the business
side of their lives. They do manage to get away on family vacations, though.
Nantucket is a favorite vacation spot, and both families do a lot of skiing in
the winter months.
Do you have a funny story about juggling kids and work?
"We started the business in June of 2003. In July [of that year] I
discovered I was pregnant," Maloy says. "What might have been the way I thought
I would initially be involved in the company, well, I just switched gears." She
combined doctor visits with marketing activities and sending out news releases.
What's on your iPod?
Neither Maloy nor Lampognana has an iPod. Lampognana, who has a 6-year-old
daughter, says she finds herself listening to Hanna Montana, Cheetah Girls, Lori
Bergner and High School Musical. Maloy says she just downloaded the
Mamma Mia! soundtrack.
What books are you reading?
Lampognana says she usually reads nonfiction, but she just finished The Kite
Runner, a vacation read. Maloy is reading A Thousand Splendid Suns,
and Skinny Bitch is on her nightstand.
What's your advice to aspiring entrepreneurs who want to grow their
business?
"Don't think about it too much. Just take the leap," they advise. "You just
have to plunge right into it and have fun. If we knew [before starting Polaris]
what we know now, we probably couldn't have done it." The pair also advises
diversifying your client base so the loss of a customer won't scuttle your
business.
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