Making lemonade

Entrepreneur,  Oct, 2005  by Gwen Moran

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Carol Frank's Avian Adventures (www.avianadventures.com), a bird-cage and accessories company in Dallas, had really taken off when an employee took Frank's trade secrets to a competitor, who then tried to sue Frank for trademark infringement. Avian Adventures' sales plummeted from $2.1 million before the suit to $300,000 during it.

But when Frank negotiated a hefty settlement, she found a silver lining. She began telling her cautionary tale to the media, generating positive attention--and business. Earlier this year, a trade publication named her one of 25 "people to watch."

"We got a lot of publicity," recalls Frank, 46. "People still talk about 'the lawsuit' in my industry."

Luda Kopeikina helps business owners like Frank turn lemons into lemonade. In her book, The Right Decision Every Time, she offers the following tips for business owners trying to find opportunity in adversity:

* REACH OUT. "Have discussions with your customers," says Kopeikina. "If you can't speak to each of them, use written communication to inform them of your side of the story."

* LOOK FOR OTHERS TO HELP TELL YOUR STORY. Because Frank was open with the media, she benefited from the exposure. Kopeikina says companies that are positive, honest and professional are often able to turn negative publicity around to their benefit.

* TAKE THE HIGH ROAD IN COMMUNICATIONS. Whatever the situation, Kopeikina advises, you should never resort to mudslinging.

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COPYRIGHT 2008 Gale, Cengage Learning