When Sharon Banks decided in 2009 that it was time to step out on her own, she had no way of knowing where that step would lead. She only knew it was time for a change, and time to take control of her professional life. She had the experience, she had the skills, she had the drive, and she certainly had the contacts to start her own business. Most importantly, she had the confidence.
Six years later, having just moved from the Julian Madison Building, located on Washington Boulevard downtown, to the 26th floor of the Renaissance Center, it seems safe to say that Bankable Marketing Solutions is headed in the right direction.
Banks says the new location, which was up and running as of July 31, will allow her agency to support and enhance the expanded services and lines of business provided to clients. Bankable Marketing Strategies (BMS) specializes in integrated marketing platforms for clients in the public, private and numerous non-profit sectors. Agency services include branding, social media, digital marketing, media relations, advocacy, hospitality management and community outreach. Banks hired her daughter Erica as director of communications five years ago, followed three years later by her son Eliot who serves as creative director specializing in social and digital media.
But when Banks first got started, having recently left her position as director of communications for Wayne County Executive Robert Ficano, the idea of expansion and adding staff seemed a ways off.
I decided to step out on faith, and low cash flow, and I decided to see if I could make this ‘Bankable’ work. I got clients that engaged me right away, which was what I needed to reassure me that, OK, I’m really making a pretty good decision. Also I can keep the lights on and pay the rent. That was in 2009. Now here we are in 2015 and the business continues to grow and expand.”
“I started out in the Clay Building over on Mack and 3rd in the oldest school building in the City of Detroit, the Clay School, and the building was African- American owned by Sharon McWhorter. We bartered. She needed marketing services and I needed a space.”
A few years later, Banks moved to the Penobscot Building in 2011. McWhorter was selling the Clay building and Banks learned that one of her own cousins had an office in the Penobscot building and asked her to check it out. Similar to her current situation at the Renaissance Center, the space at the Penobscot was a shared office space. Banks was there for about 18 months before the Penobscot Building was sold and she was back on familiar nerve-wracking territory of the ground moving beneath her feet. But then she ran into Sharon Madison, a good friend with whom she shares an enjoyment of ballroom dancing. Madison asked where she was located, and then offered an available space in her own building when she learned Banks was searching for a new location.
This year, when Madison began talking about ideas she had for the Madison building, Banks decided that even though this time she did not have to move and could have easily stayed where she was, it was once again time to make a move. This time it wouldn’t be because the clock was ticking and she was confronting a deadline to relocate, but because she knew a move was in the best interest of her company.
“I decided to consider my options,” she said.
The shared office space she discovered on the 26th floor of the Renaissance Center, in Tower 400, turned out to be an option she couldn’t ignore. Not only is the view spectacular, but…it’s the Renaissance Center [STEVE: PLEASE LEAVE ITALICS IN –K.O.]. Just the networking opportunities alone were worth it for a company like BMS that was seeking to expand. Plus the timing of it all seemed perfect. The 26th floor had only been open about 18 months as shared office space, and they were looking for clients like BMS. Add to that the explosion of new development occurring downtown and it became clear to Banks that this move was what needed to happen.
Banks has always specialized in public relations and community outreach. Her first client was the Detroit Riverfront Conservancy, followed by an ongoing stint with the Wayne County Treasurer when she was contacted by Terrance Keith, now a Wayne County Probate Court judge who was serving as Chief Deputy Treasurer at the time. She also served as communications director for Mayor Mike Duggan’s super pack during his run for office. Now that her son Eliot has been added to the team, the company has expanded its services to include social and digital media services, including website construction and maintenance.
The obvious question is how does it work as a family business where Mom is now the CEO and the kids are the employees? Naturally the answer from all three comes back strongly in the affirmative. But judging by the feeling in the room – and more importantly the company results – this family is definitely figuring out how to separate family time from business time. Or maybe they have figured out how to weave it all together.
“I think it’s the most fun I’ve had in my career thus far,” said Erica, who began her professional career as a teacher but then swiftly decided she wanted to pursue a career more like what her mother was doing. After working for two high-profile firms (at the suggestion of her mother who wanted Erica to gain some outside experience before making a decision to sign on with BMS), she came on board.
Eliot, who moved back home to Detroit from North Carolina five years ago after a strong career in hospitality and event planning which took him all around the country, also made a name for himself in Detroit before joining BMS.
“You do have to separate the mother and the children dynamic,” said Banks. “They’ve watched me in this business all of their lives. I remember when they’d be in the basement licking stamps and putting labels on stuff, or hauling water around at an event, or whatever it was. They had an appreciation for it.”
It’s a little bit different today.
“I do performance reviews, and they give me a performance review. When we’re here it’s all about the business.”Keith
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