IT might seem at odds with expectations for a marketing business to close down a 31-year-old, well-known brand, but that is exactly what Michael Smith has done.
Started in 1979, Mr Smith’s The Marketing Centre shut its doors on Friday to allow the professional director to concentrate on his board roles.
He will become a sole practitioner consulting in corporate strategy focused on growth, without the headache of running a business while he juggles multiple directorships including iiNet, 7 Eleven Australia, Synergy, Perth International Arts Festival and the local chapter of the Australian Institute of Company Directors.
One of Perth’s most influential directors, who became more widely known to the public as chairman of the West Coast Eagles from 1999 to 2002, Mr Smith has chosen the name Black House for his new consultancy.
He decided to shut down his existing business in Bagot Road, Subiaco, after the staff declined to acquire the business and he had turned down an external offer because the buyer wanted his continued involvement.
Mr Smith said The Marketing Centre was something of a misnomer as the business had morphed from its marketing roots into strategic development.
In 2001, it had carved off its market research arm into a business that now operates as Research Solutions.
The current business employed eight staff last year.
“I could not run a consultancy comfortably with those commitments and some of that had to go,” Mr Smith said. “I still want to do consulting work but I would rather it focused on corporate growth strategy.”
Mr Smith said his desire was to be remunerated on performance rather than fees. For instance, he was working with a listed cash box with the objective of being paid in options.
“I have tons to do, it is just finding the time to do it,” Mr Smith said.
