The past 30 years have taught Ann Marie and Ed Mayuga a thing or two about business and personal relationships.
Chief among them: the moment you think you have everything figured out is the moment you stop growing.
“We’re always learning,” said Ann Marie. “Ed has an MBA, and I’ve got a couple of master’s degrees, but there’s always something you can learn.”
That’s why the husband-and-wife team, who’ve been married 25 years and running AMM Communications for 18, are encouraging fellow entrepreneurs to apply for the Inner City Capital Connections (ICCC) program when it returns to St. Louis Sept. 15.
“We try not to miss any of their events because it’s such a wonderful organization,” said Ed, who’s confirmed to attend the September program.
Regions Bank and the Urban League of Metropolitan St. Louis are sponsoring the tuition-free, 40-hour “mini-MBA” program conducted by the Initiative for a Competitive Inner City (ICIC) and designed for growth-stage entrepreneurs. This marks the fourth time ICIC has delivered training to entrepreneurs in under-resourced areas across the Greater St. Louis region.
Those trainings have delivered impressive results, with 200-plus St. Louis alumni collectively achieving the following thanks to ICCC training and resources:
- Raising more than $35 million in capital
- Achieving an average 40 percent growth in revenue
- Creating nearly 300 jobs
For the Mayugas, the program’s most valuable lessons have centered on two critical areas for any growing business: knowing your numbers and knowing your value proposition.
Mind Your Margins
Ann Marie recalls a standout presentation from her first ICCC workshop back in 2019.
“There was a session focused on margins, profit and how to make sure you understand what those numbers are,” she explained. “That foundational class has been instrumental in knowing where we stand every week when we meet with our accountant. We keep expenses low. Our margins blow our accountant away.”
Rethinking and Rebranding
Understanding the numbers was a key part of the equation. In 2022, another ICCC presentation led by Dr. Susan Perkins challenged the Mayugas to re-examine and redefine how they positioned their company in the marketplace.
“I remember sitting there thinking, ‘What is our brand now?’” Ann Marie said.
They discovered that after more than a decade in business, they had primarily positioned themselves as a public relations firm, underselling their capabilities.
“We realized we were offering all these additional resources beyond PR,” Ann Marie said.
“So, we went through a significant rebranding exercise to start communicating what we do well and eliminating what we don’t. It really helped define our value proposition. That was inspired by Dr. Perkins.”
Different Lanes, Shared Vision
AMM Communications’ rebrand delivered additional benefits, including clarifying the firm’s services and defining separate lanes for each owner.
Ed focuses on social media and websites, video, regional marketing and strategic counsel. Ann Marie leads strategic communications, crisis communications and public relations.
It also helped them better communicate exactly what services clients receive and how much they cost.
When our clients call us, they’re dealing with the two owners of the company. Together, we can make a decision in two minutes that could take a week of meetings to make.
Ed Mayuga
That kind of trust is built on decades of partnership.
Ann Marie put it simply: “We respect each other, personally and professionally.”
“We’re both ‘Type A’ professionals who want to succeed,” Ed added. “We still hold regular meetings to discuss everything from finances to business strategy. It just comes down to respect.”
Lasting Lessons
The program’s influence has shown up in other unexpected ways for the Mayugas.
Several years ago, an ICCC assignment introduced Ed to something new that’s offered lasting value.
“I’d never really put together a private pitch deck before,” he said. “Even though I didn’t move forward with that business plan, we still use that template with clients today.”
ICCC has proven to be one of the best investments the Mayugas have made in their own business. The lessons they’ve gained continue to help shape their work advising organizations in financial services, manufacturing and distribution, healthcare, legal and professional services, and the nonprofit sector.
ICIC leaders cite the couple’s focus on continuous learning and practical application as an example of the program’s impact.
Ann Marie and Ed are exactly the kind of entrepreneurs ICCC was created to support – talented, committed business owners who are always looking for ways to strengthen their company and create greater opportunity.
Steve Grossman, CEO of ICIC
“What’s especially gratifying is seeing how they’ve taken what they learned through ICCC and continued to apply it years later,” he added. “That’s the impact we hope to have: helping entrepreneurs build stronger businesses that create jobs, opportunity and economic vitality in their communities. We’re deeply grateful to Regions Bank for making that opportunity available to more entrepreneurs in St. Louis.”
The Mayugas have become two of ICCC’s most enthusiastic supporters.
“We’re evangelists for this program,” Ed said. “We’re always telling people this is a great organization, and Regions Bank is doing a wonderful job sponsoring it.”
Never Stop Learning
With the St. Louis program returning Sept. 15, the couple hopes more small-business owners take advantage of the opportunity.
If you’ve got a great idea and you’ve got the work ethic, motivation and a desire to learn, this program can do so much for you. It will elevate your critical-thinking skills, and that’s an opportunity few people get.
Ann Marie Mayuga
For entrepreneurs who think they’re too busy to devote 40 hours to the program, she offers a different perspective.
“Your time is not free,” Ann Marie said. “It’s hard to get away, but you have to really step away and allow yourself to learn. You can always take a nugget of information and improve your business.”
