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[Note: To all fellow readers that have had or have a relationship with Mike Nave, please comment with your personal story.]
Mike Nave is alive and well. No cancer, no dementia (he does forget to take the check when presented by a waiter however) and in fact, still refilling his bottle of blue tablets (although he swears he doesn’t need them, remember, king of BS).
Mike Nave is the kind of guy that should be roasted by those in the industry that have put up with him and vice versa for more than 30 years. Since I cannot think of an event in which that would take place, I have decided this is the best time and place to do what I can to give a little recognition to Nave’s achievements in the industry. After all, he has conned me into paying him $85 a year for his annual subscription of the blue rag, a true testament to his selling acumen.
Contrary to popular belief, Nave actually attended college and graduated. Not wanting to work for his father, he pursued a career path to use his degree. But alas after finding work at a meter reader, Nave succumbed to join the family business. Here is his personal recollection:
“When I graduated UC Berkley with my BS Degree (the initials are perfect for my writing career) my dad assumed that I would join the family business. He operated a successful distribution business. I told him that being a college graduate with a degree I was going to be a valuable asset for a company and that I was going to seek a position with a large corporation. At the time I was living at home and dad would inquire from time to time about my job hunt. I was searching, sending out resumes but with no success. Finally I got a job offer and I could not wait to tell dad the good news. “Dad I got a job offer from a large corporation,” I informed him. He responded, “That’s great, who is the company and what’s the job?” I proudly stated, “It’s an executive training program with the Southern California Edison Corporation.” Dad asked, “Tell me what you are going to be doing?” I said, “The training program starts with me reading gas meters of businesses and homes.” Dad in is subtle way said, “Your reading gas meters that’s @#?*&*&?!” He went on, “You come to work Monday morning!” I commented “Ok but it will only be temporary until I find a better job offer where I can use my degree.” I worked for the family business for over 30 years and for the last 25 years as the CEO.”
The company Nave went to work for: Mercury Distributing which was started by his father. Like most family businesses, they endured both good and bad times. At one point, the business hit a low point as highlighted by Nave, “The company that my dad started lasted 55 years and it wasn’t always great times. We went through a tough period and got into major financial problems and owed a ton of money to vendors. Rather than go the Chapter 11 route and screw all the suppliers we owed money to, we made a decision to sell our building to the original builder and lease it back and took the proceeds and paid every creditor in full. My dad taught me a great deal over the years we worked together and this decision was one that I am most proud of and acknowledge Eddie Nave’s business ethics and his coaching.
The business back then was run a little different than businesses are run today. “During the “good ole days’ the doing business was a bit more casual than today. Reps would make their sales call that consisted of their going into the warehouse to visually check inventory on their lines and then they wrote their suggested order on a match book cover or any handy slip of paper. Coupled with a handshake the order was done and more important we were off to Rothbards, the local deli to seal the deal with a CB on rye!” Personally I had two orange binders and did the same thing, wrote down what was needed and then called the supplier to place the orders.
Nave sold the company in 1997 to Paul Diamond, “`I’d been doing it 37 years – I’d been tap-dancing on the same dance floor – and I had trade publications that I was doing on the side that I wanted to devote more time to,” Nave said. Nave, who knew Diamond nearly 15 years, said he valued the latter’s experience and contacts and “really felt I needed to have some new blood in the business.” This gave Nave the opportunity to pursue his dream, The Beauty Industry Report (known as both the BIR and Blue Rag). And Nave the shrewd businessman negotiated with Diamond his office space, “`The only thing they rent me is an office – and toilet privileges – for $1 a month.”
To learn more about Nave’s career path and achievements he finds worthy of bragging about, look no further than Linked-in. I know few others that have more than 500 connections.
I would venture to say that Nave makes more money and is happier today than when he owned Mercury. For one, he makes a killing with his newsletter. It is a better value than the Rose Sheet, but then at $1835 a year, what isn’t? I enjoyed it better when it had more juicy gossip than sponsored articles but with all the entrepreneurs selling out, the gossip has been limited. Nave also reps a bunch of companies, learning from his previous mentor Diamond. I also know firsthand that when it comes to meetings, he always opts for lunch meeting instead of dinner because they are so much cheaper. We had lunch at Gibson’s where the garbage salad is his favorite option (he orders it for dinner as his entrée if he has to pay) and I think he gave me two free months of the BIR if I paid the check.
You will see Nave at virtually every trade show. He figured this one out too. He knows the show producers want him to write about the show in his rag, so they pay all his expenses to show up and if that isn’t enough, he finds one of his vendors to pick up the tab. I wanted him to come to one of our charity events and the first thing he asked me, “Let me do a story on TNG.” Yea, right!
Personally, what do I really know about Mike Nave? Not much. I’ve never been to his house or knew him at Mercury. We have never went on vacation or attended a party together. My real experience with him has been the last few years in which he has helped me out on a few projects and fretted his advice on several subjects. If anything, I am a little envious. How cool to sell your company and do what he does each and every day! I’m sure there are plenty of those that have derogatory stories to tell but in the scheme of things, I would say that Nave has brought more good to the industry and is one of the icons left that remember the industry way back when. He’s one of the good guys. And I’m not blowing smoke up his a__ because I know him well enough to know there is still no chance he will buy me a steak at Gibson’s.
Thank you Mr. Mike Nave for your contribution to the industry and please, enjoy many more years of making more of them.
Happy Monday!
