Location: Commack, NY
FOCUS ON THE ISLAND
Long Island Media Inc. is a digital advertising agency. “Our company is on Long Island and we own Long Island.com, which puts us in a leverage position,” says CEO John Colascione. “I think our advantage has been the fact that we’re so focused on this particular market and we’ve leveraged the internet so extensively by purchasing and acquiring almost every website about Long Island.” For instance, Long Island Media owns Long Island Exchange, a 12-year-old online news publication and destination guide, as well as NewsLI.com.
Quick Tip: “No matter how good whatever you have to sell is, you always need a great salesperson to sell it.”
“When you have a growing and substantial book of business, collecting monies due on that business is sometimes more work than providing the service,” says Colascione. “We’ve accomplished getting a handle on the situation because it was so critical to the business. In addition to our bookkeeper, we hired a dedicated accounts-receivable person.” In running a fast-growing company, Colascione has learned that “you need to be careful that growth does not consume you. It is important to recognize each burst of growth, and then take a step back when you have just taken two steps forward,” he says. Colascione’s goal is to keep increasing Long Island Media’s revenues every year. “I’d like to be able to never say no to a service that could be even remotely related to any of the services we provide, and never want to have to turn the customer away,” he says.