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Jackie Nagel, Synnovatia

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Unlock Business Growth Through Annual Strategic Planning

Posted by
Jackie Nagel, Synnovatia
Business Growth

Business Growth Ask any entrepreneur about their annual business planning, and you’ll likely see an eye roll. It’s a task most of us would rather avoid, yet it is one of the most critical steps in setting the stage for your business growth in the coming year.

Although it may seem a bit premature to plan for 2025, it’s actually the perfect time to start laying the groundwork to ensure the year doesn’t slip away again. By establishing a clear direction now, you can avoid the last-minute scramble and undue stress that often accompanies spontaneous planning.

Let’s all agree that planning on the fly is much too stressful. Taking the time to strategize now will pave the way for a smoother and more successful year.

End-of-Year Assessment & Planning for Business Growth

A Big Deal Vs. a Big Ordeal

Whatever you do, avoid making it a big ordeal. When a task feels daunting, it’s easy to procrastinate. This often happens when we overthink or exaggerate the complexity of the task at hand. And we all know what happens when we delay action—missed opportunities, hindered growth, and increased stress. By breaking tasks down into smaller, manageable steps, we can tackle them more effectively and maintain steady progress toward our goals.

Here is a simple step-by-step plan you can implement now to ensure your end-of-year assessment and planning is a big deal, not a big ordeal:

Step 1: Set Your Intention

Just like getting ready for a Thanksgiving trip to Grandma’s provides a clear framework, setting a well-defined objective empowers you to achieve your desired outcome. Ask yourself what you want to accomplish with your planning session.

Step 2: Schedule Planning Time and Location

Talking about planning doesn’t get it done. Blocking time on your calendar increases the likelihood of it happening—especially if you treat it with the same respect as any important meeting. For an uninterrupted, undisturbed experience, consider finding a quiet place like a nice Airbnb away from the office — and include your business strategist.

Step 3: Pack Your Bags

With your intention set, gather all the necessary information you need for your assessment and planning time. This could include financial reports detailing revenue and expenses, customer feedback providing insights into satisfaction and areas for improvement, a market analysis of industry trends and competitor activities, and more.

Step 4: Dig In

This part can be easier said than done, yet it’s not impossible. Don’t let procrastination or indecision slow you down or stop you from doing your best work and playing a bigger game. Stay organized and focused, plan out your tasks carefully, and set clear goals to keep you on track. A structured approach and dedication help you overcome challenges and achieve your objectives.

Final Points to Consider

  • Stay Objective: Remain as objective as possible during the assessment phase to ensure you’re evaluating your business results accurately
  • Plan Flexibly: Avoid too much detailed planning for the third and fourth quarters of the year. Business evolves quickly, and you want to remain agile.

Although you may have to pinch your nose to get through your business appraisal, your ability to think clearly and act boldly in the new year makes it worthwhile.

Ready to Grow: Key Takeaways

Planning for the future, especially in the messy middle of business growth, is crucial for setting the stage for success. By taking the time to assess and plan, you protect your time and ensure a strategic approach to the year ahead.

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Ready to transform your business planning into a powerful tool for growth? Book a call with our expert Business Strategist today, and we’ll help you refine your strategy and prepare for the next level of your business.

Are You a Master Strategist? Test Your Strategic Skills with This Quiz

Posted by
Jackie Nagel, Synnovatia

Do you see yourself as a strategic genius? Think again. Only three out of ten small business owners truly grasp strategic skills. This implies that many entrepreneurs could miss crucial growth and scaling opportunities.

Surprised? Don’t be!

Business Strategic SkillsDeveloping strategic skills is a challenge for many small business owners. The constant juggling of daily operations, customer service, and financial management often leaves little time for long-term planning and strategic thinking. This lack of time and focus ultimately hinders growth and innovation.

Enhancing your strategic skills, however, opens up a world of possibilities, such as:

  • Identifying emerging trends to strengthen your business and stay ahead.
  • Establishing a clear direction with a well-developed roadmap to align everyone towards the same outcome.
  • Making smart business decisions based on sound principles to navigate challenges effectively.
  • Allocating resources wisely ensures time, money, and effort are directed where they have the most impact.
  • Improving marketplace positioning for easier growth and sustainable success.

Ready to see how strategic you really are? Rick Horwath, best-selling author on strategy, has created a quick quiz to test your vital skills. Are you up for the challenge? (Answers are below—no peeking!)

How Are Your Strategic Skills?

  1. At the heart of the business strategy is:
    1. The intelligent allocation of limited resources.
    2. Distributing resources across all potential growth opportunities.
    3. Working to be better and faster than the competition.
  2. Successful business strategy is about:
    1. Being better than the competition.
    2. Having the “right people on the bus.”
    3. Providing differentiated value to customers.
  3. The three disciplines of strategy are:
    1. People, strategy, and process.
    2. Customer focus, service, and product leadership.
    3. Acumen, allocation, and action.
  4. An objective is:
    1. The current purpose of the organization.
    2. The general outcome you’re trying to achieve.
    3. The specific outcome you’re trying to achieve.
  5. A goal is:
    1. The specific outcome you’re trying to achieve.
    2. The future purpose of the organization.
    3. The general outcome you’re trying to achieve.
  6. Goals and objectives represent:
    1. How you will achieve your mission and vision.
    2. What you are trying to achieve.
    3. The tactical means of achieving business success.
  7. Strategy and tactics represent:
    1. How you will achieve your goals and objectives.
    2. Long and short-term goals.
    3. A balanced scorecard indicating business performance.
  8. Strategic thinking can be defined as:
    1. The annual process for creating a strategic plan.
    2. The ability to generate business insights continually.
    3. Using SWOT Analysis to identify opportunities and threats.
  9. An effective strategy depends as much on:
    1. Tactics as it does goals and objectives.
    2. The economy as it does on your core competencies.
    3. What you choose not to do as it does on what you choose to do.
  10. Good strategy requires managers to:
    1. Not be all things to all people.
    2. Serve as many customers as possible.
    3. Develop an exit strategy for the business.

So, how did you do? (Answers at the end)

Ready to Achieve More?

Being strategic involves consequences. It means achieving what you’ve never achieved before. It involves careful planning, foresight, and a deep understanding of your goals and resources. And it most often involves giving something up to obtain something better.

Take these insights to heart and transform how you approach your business strategy. By doing so, you can identify new opportunities, mitigate risks, and ensure sustainable growth for your organization.

Want to level up your strategic skills even more? Join our community of strategic thinkers for exclusive tips, resources, and support. Let’s turn your strategic dreams into reality.

(Answers: 1A – 2C – 3C – 4B – 5A – 6B – 7A – 8B – 9C – 10A)

How Strategic Thinking Shapes Small Business Success…And Saves Money

Posted by
Jackie Nagel, Synnovatia
strategic thinking for business growth

What do wise entrepreneurs do when their business growth begins to slow? Most either work harder or throw money at the perceived problem—or both! Neither of these options is advisable—or desirable—until you apply some strategic thinking to your business strategy and operations.

strategic thinking for business growth

Consider a recent strategic conversation with “Katherine” (not her real name for the sake of confidentiality), which perfectly illustrates how strategic thinking can shape business success. Katherine had already invested a lion’s share of time and money into her growth initiative. As results failed to materialize, her initial frustration turned to irritation. Finally, in total exasperation, she decided to move forward with a project requiring a substantial investment of resources in the hope that it would be “the thing” that fueled her small business growth.

Her situation sounds only too familiar, doesn’t it? As entrepreneurs, we’ve all experienced the same frustration when results fail to materialize despite our best efforts.

What Strategic Thinking Can Do For You

Before proceeding with her plan, we decided to put strategic thinking to the test. We examined her performance metrics to glean whatever insight was available. For many small business entrepreneurs, looking at performance metrics is like partaking in a Rorschach test. We know it’s supposed to mean something, but it all looks like a bunch of undefined, incoherent inkblots.

What we discovered—in a word—was hopeful!

Using our best investigative skills, we poked, prodded, and analyzed her performance metrics. We compared them to industry benchmarks. We aligned them with her growth goals and business strategy.

Ultimately, our strategic thinking skills cracked her performance metrics wide open. We identified a set of actions Katherine could take immediately to boost her business growth —before making another substantial investment.

Isn’t that exciting? Time will tell how Katherine’s actions will ultimately shape the trajectory of her business growth. Until then, she won’t have to grow her business in the dark with fingers crossed, hoping for success. She now has strategic actions to guide her.

The Power of Strategic Thinking

This experience underscores the transformative power of strategic thinking. You can uncover insights that save time and money by taking a step back, analyzing available data, and aligning actions with strategy and goals. It’s about working smarter, not harder.

So, how willing are you to apply strategic thinking, knowing it could shape your business success and save you time and treasure? Strategic thinking involves assessing your goals, understanding the market, and planning the most effective ways to achieve your objectives, using data to guide your decision-making.

Doing so allows you to navigate challenges more effectively and capitalize on opportunities. Remember, strategic thinking is the way forward if you’re ready to see tangible results and elevate your business to the next level.

Take the First Step Today

Strategic thinking isn’t just a buzzword—it’s a crucial tool for navigating the complexities of running a small business. By adopting a strategic mindset, you give yourself a roadmap to success.

Are you ready to transform your business with strategic thinking? The time to start is now.

If forming meaningful, growth-driven partnerships sounds like the next step for your business, we’re here to help. Contact us to explore how we can support your efforts.

Strategic Alliances: The Catalyst for Business Growth

Posted by
Jackie Nagel, Synnovatia
Business Growth Strategic Alliances

In today’s dynamic business landscape, the trajectory of business growth is rarely a straight line. It’s also not about going solo to cut through the competition; it’s about creating mutually beneficial partnerships that fuel forward movement.

Yes, we’re talking about strategic alliances, a proven avenue for enhancing business growth. They are especially crucial for small businesses aiming to accelerate their growth.

How can you guarantee these alliances are two-way streets benefiting both parties? It begins with introspection and a strategic mindset.

Understanding Your “Why” for Forming Strategic Partnerships

Business Growth Strategic Alliances

Before leaping into forming alliances, let’s dig deep and find answers to some fundamental questions for you:

  • What do we aim to achieve through this alliance?
  • How will this partnership contribute to our overarching goals?
  • What unique strengths do we bring to the table?
  • How does this alliance align with our business strategy?

Clarity ensures that you’re not forming alliances solely for collaboration but with a clear purpose that aligns with your business strategy.

Choosing the Right Partner for Business Growth

The quest for the perfect alliance partner is akin to finding a needle in a haystack. To avoid jumping in with both feet only to suffer regret later, exercise a bit of diligence, foresight, and an understanding of what you want out of a partnership to make sure you align with the right partner.

Here are a few questions to consider:

  • Who caters to the same market as we do without being a direct competitor?
  • What companies offer complementary products or services?
  • Who shares a similar vision and core values as our business?
  • Who has shown a genuine interest in collaborating with us?
  • What potential partners match our standards, work ethic, and commitment to excellence?

A bonus question might be, “Who would be fun to work with?”

Crafting a Win-Win Scenario

Once you find the right potential partner, the next step is to build a foundation that ensures mutual benefits before you dive in.

How do you achieve this? The key lies in clear and honest communication and shared goals.

Your discussion might include the following:

  • What is the shared vision and objective of the alliance?
  • What are realistic performance targets?
  • What are the roles, responsibilities, behavioral norms, or expectations you may have of the other?
  • What is the agreed-upon approach to problem-solving and decision-making?
  • What would be the schedule for regular meetings to ensure alignment and information sharing?
  • What is the conflict resolution strategy that respects both parties’ interests should a situation arise?

While these questions might seem excessive, it makes sense to prepare in advance for future inevitabilities. Ignoring potential conflicts until they escalate is a surefire way to undermine a productive partnership.

Strategic alliances are not short-term fixes but long-term partnerships that drive growth, innovation, and market expansion.

The Path Forward to Accelerated Growth

Fostering successful strategic alliances is both an art and a science. Achieving collaborative success requires a blend of strategic planning, mutual understanding, and the right mindset. Remember, the key is to create a synergistic relationship where both parties can achieve more together than individually.

If forming meaningful, growth-driven partnerships sounds like the next step for your business, we’re here to help. Contact us to explore how we can support your efforts.

 

Strategic Business Growth: Putting “Social” Back in Social Media

Posted by
Jackie Nagel, Synnovatia
business growth through social media

Understanding the vast extent of social media’s penetration into our daily existence is truly astounding. It seems not that long ago, we were fully engaged in face-to-face interactions, sharing thoughts and laughter in person. We took the time to write letters, carefully choosing our words, sealing them with a stamp, and sending them off with a sense of anticipation for a reply. We were also tethered to phones fixed to our walls, waiting for that ring that connected us to someone far away. (Yikes! I’m showing my age.)

The rapid transition to digital communication highlights not just technological advancement but also a shift in how we connect with others.

As we’ve traveled through time, the tactics employed in social media have evolved dramatically. Remember the trend of sharing your meal photos on Twitter? It was all the rage until suddenly, it wasn’t. Additionally, we discovered countless applications for social media, extending far beyond our initial imagination—reigniting old connections, sharing news of global events, and bridging the gap between consumers and the services they seek. Most of the applications have been and continue to be astonishingly beneficial; some have proven to produce dreadful outcomes. 

business growth through social media

The benefits social media has introduced are undeniable. However, it seems as though businesses began to lean a little too heavily into their success, transitioning from authentic, human interactions to a more automated engagement relying on minimal effort rather than a genuine attempt to build trust and a true relationship.

When considering today’s digital interactions, engaging with an automated system can feel significantly less personal, like chatting with a robot. And, the missing piece of personal interaction diminishes the effectiveness of communication, making it harder to form meaningful relationships.

Automation within social media certainly plays a critical role. It simplifies and streamlines tasks, particularly for small business owners lacking a social media team or a tech-savvy individual to manage their content consistently.

If You Build It, Will Business Growth Follow?

Sadly, this isn’t quite the reality. Many small business owners have learned this the hard way, starting a business page on Facebook or IG expecting an immediate influx of followers and customers. Merely promoting your services won’t suffice. “Social” media is meant to foster social interactions, making engagement crucial.

Engaging in meaningful conversations and directing your communication toward your audience is the key to driving website traffic, generating leads, securing clients, or boosting sales.

Social media serves as a tool to facilitate dialogue and interaction, aiming to build and nourish relationships rather than replace them. Hence, the essence of leveraging social media effectively is to engage with your audience.

Share content that sparks conversation, respond to comments, ask questions, and participate in discussions. Show genuine interest in your followers’ lives and interests. This approach builds a community around your brand or profile, leading to stronger, more meaningful connections.

View social media not merely as a channel for broadcasting but as a vibrant, interactive space where real conversations unfold. Engage authentically with others, and you’ll experience firsthand the transformative power of social media in fostering lasting relationships.

The Value of Community for Emerging and Growing Entrepreneurs

Posted by
Jackie Nagel, Synnovatia
community for entrepreneurs

There’s something a foot in the entrepreneurial space … And some small business owners are spilling the beans on how they really feel about their business.

There’s something afoot in the entrepreneurial space, and some small business owners are spilling the beans on how they really feel about their business.

What started out as fun has turned into a nightmare. They are overwhelmed, burnt out, and exhausted. Endless hours with stress as a constant companion affords little time for home-cooked sit-down meals with family, exercise, or thinking in any strategic capacity about the direction of their business.

They silently wonder how much longer they can work at this fevered pace. They’re beginning to feel trapped and can’t quit because of all they’ve invested. They no longer own their business – their business owns them – and they want a “Get out of Jail Free” card.

The complexity of business is accelerating – along with the escalation of isolation. Even Google is turning a cold shoulder. Like a Magic 8 ball, it gave us the answers to all our questions. Now? Vast amounts of time are lost digging through pages of information. Instead of clarity, they deliver chaos. What gives?

The Disappearing Communities for Entrepreneurs

When my Dad opened his farm repair shop in a small, dusty town in North Dakota, he would visit his community banker at the local greasy spoon. Along with other owners of mom-and-pop establishments, they gathered over a cup of burnt coffee to discuss their situations and find answers to their most perplexing questions about growing their businesses.

When social media platforms emerged, communities sprung up in the form of groups. They became the go-to place to seek answers to our questions. That was until groups, overrun with promotional content, quickly became where conversations began to die.

How are we expected to grow a business in a vacuum? The truth is, we can’t!

The Dyson Effect

Minus MBAs and entrepreneurial degrees, we’re all just making this up as we go along. Granted, we have the likes of Bill Gates, Neil Patel, Arianna Huffington, Tim Ferris, and that guy over at Virgin.

We devour their words of wisdom, combing them like precious pearls to find the perfect treasure for our situation. We imitate their success—with little luck.

Why? We’re not them.

We don’t have gargantuan teams to execute our strategic initiative, deep-pocketed venture capitalists to experiment unencumbered by cash flow, or access to the best and brightest talent in search of big paydays and plush benefits. Lucky us!

What we lack resources, we make up for in passion, drive, and determination. We are a relentless group of renegades, rebels, and misfits who desire to carve out a lifestyle for ourselves and our families while delivering innovative services with a personal touch and attention to detail not found at the big behemoths.

The Cure for the Sucking Sound of Isolation & Business Stagnation

We need a hook-up, not in the dating sense, but rather in the form of valuable connections. We need to hook up with guidance, wisdom, and counsel custom-made for the size of our business.

We need community.

We need a place to build relationships with like-minded business owners who share interests and a common set of circumstances. We need a place where questions are answered, conversations are sparked, and relevant connections occur without the distraction and interruption presented by most social media platforms. We need a place to work smarter and grow faster.

We have a lot to do, and doing it together—learning from each other, sharing stories, and getting answers to questions even Google can’t provide—creates greater value for everyone invested in the community.

Eliminate Energy Drains for Better Business Growth

Posted by
Jackie Nagel, Synnovatia
achieve business growth by ridding self of tolerations

Thomas Leonard, an innovator in the coaching realm, introduced a concept that shook the foundations of productivity: tolerations. Imagine a whopping 80% of your energy potentially squandered on these pesky distractions. For an entrepreneur like yourself, that energy could be better invested in scaling your business’s growth.

Picture tolerations as grains of sand grinding away at the gears of your entrepreneurial engine. Tiny? Yes. But detrimental nonetheless. These vexations dull your zest, obscure your vision, and confuse your priorities. And you deserve better.

achieve business growth by ridding self of tolerations

Encountering Tolerations Everywhere: A Common Experience

Tolerations lurk everywhere. At home, a peeling paint job or a window chipped during a lively childhood game might catch your eye and nag at you. At work, cluttered desks and disorganized files might be your silent adversaries. Tolerations manifest as the clutter in your car or the unhealthy eating habits formed in the race against time.

In business, tolerations often arise in the form of missed timelines, unrelenting stress, subpar performance from others, and encountering demanding clients who may not align with the core values or offerings of our enterprise

Certainly, we are surrounded by tolerations, but what compels us to persist in tolerating them? The desire to transform ineffective energy utilization into something more powerful — business growth.

Energize Your Business Growth: Fuel Your Expansion  

Bidding adieu to the seemingly trivial yet persistent nuisances cultivates joy and propels business success to new heights. It’s a liberation that lets us focus our energy and resources on strategic initiatives, fueling growth and fostering a more resilient organization.

We create space for creativity, innovation, and enhanced productivity by liberating ourselves from the burdensome weight of minor frustrations.

  1. Heighten Awareness: Pay attention. Observe yourself. What gets under your skin? Raise your antennae. But don’t be too astonished by the magnitude of energy you’ve poured into these tolerations.
  2. List Them Out: Maintain a list over the coming days — every single pet peeve, whether large or small.
  3. Gauge the Costs: Weigh out the hard costs (like hiring a bookkeeper) against the soft costs (the energy you lose stressing over late invoices and reconciling your accounts.).
  4. Target and Eliminate: Choose the most draining toleration and axe it from your life. And don’t just cut. Dig out the roots to prevent them from sprouting again. Look for the source of the toleration!
  5. Rinse and Repeat: Tackle each toleration until your list is clear, your energy reclaimed, and your attention refocused.

Freeing yourself from these shackles not only brightens your mood but also turns you into a magnetic force of positivity. You’ll have boundless energy to inject into growing your enterprise.

Ultimately, isn’t this the very essence of entrepreneurial pursuit? With clarity on your journey towards exhilarating business expansion, the decisive step forward awaits.

Join our community of driven entrepreneurs today for inspiration, support, and guidance to skyrocket your success. Because together, we transform challenges into victories and tolerations into triumphs.

The Future of Business Growth and Client Engagement Lies in Mobile Mastery

Posted by
Jackie Nagel, Synnovatia
mobile business growth

In an ever-evolving business landscape, small businesses are on the brink of a revolution filled with abundant opportunities. With consumers constantly on the go, armed with their smartphones, tablets, and laptops, the question at hand is no longer why but how quickly can you align your business with the changing client needs and burgeoning mobile trends.

The Imminent Mobile Surge and Its Implications

Upwards of 50% of small businesses are placing mobile marketing at the core of their strategic initiatives. Consider these updated numbers for 2023 on mobile trends and shifting client needs:

  • B2B clients are actively engaging with reviews on mobile devices, with a notable 60% engagement rate (Source: Forbes).
  • Furthermore, an impressive 75% of internet searches are now conducted on mobile devices, reflecting the growing importance of mobile in the B2B landscape (Source: SEO Reseller).
  • Additionally, 58% of B2B customers are utilizing mobile devices for product insights and comparisons, underlining the need for mobile-optimized content and experiences (Source: SVM Solutions).
  • Moreover, as B2B transactions increasingly shift online, 60% are streamlining the purchasing experience through mobile devices (Source: Qualtrics).
  • This trend is further evidenced by the surge in mobile purchases, with forecasts reaching the $200 billion mark by 2023, as per Forrester.
  • A striking 70%  of B2B clients lean towards text and mobile channels, with a preference for these modes when it comes to inquiries and support (Source: Constant Contact).
  •  65% of customers now expect tailored mobile offers based on their preferences (Source: Textline).
  • Over 80% of clients value immediate responses to their queries via text messages. (Source: Avochato).
  • The trend continues as 55% of consumers prefer text communication over calls for customer service. About 30% prefer text over email.  (Source: Quiq).

These are staggering statistics!

mobile business growth

Deciphering the Mobile Enigma

A strategic pause is warranted before hastily jumping onto the mobile marketing-engagement bandwagon. Having a mobile presence isn’t just about tools—it’s about carving out a strategy that puts the client at the forefront of your business outreach.

To determine the right course for your business, initiate this strategic probe:

  • What business goals would your mobile strategy support?
  • Are there untapped opportunities your business is missing without a mobile strategy?
  • Are your ideal customers finding you on mobile platforms?
  • What percentage of your clients prefer a different method of connection?

Questions like these are not just inquiries; they are your lighthouse guiding you through the fog ensuring you arrive at the best choice for your business and its clients.

A Rundown of Must-Have Mobile Marketing – Engagement Tactics

Here are some of the opportunities to make sure you have in place to optimize your mobile marketing-engagement tactics.

  1. Responsive Website: Google’s Mobile Optimization Guidelines state that anything less than a website that seamlessly adapts to varying platforms—be it a phone or desktop—is a compromise too expensive. Unoptimized businesses risk plummeting in SEO rankings or vanishing from search results altogether.
  2. Responsive Email and Content: Mobile commands a massive 72% of internet usage. It’s only logical for businesses to ensure every customer interaction is mobile-friendly.
  3. Tailored Mobile Content: Forbes champions “micro-moment” optimization of content, guaranteeing richer engagement and sales.

The essential “micro-moments”:

  • I-want-to-know (e.g., “Capital city of Nevada?”)
  • I-want-to-go (e.g., “Closest Thai restaurant?”)
  • I-want-to-do (e.g., “Steps for French press coffee?”)
  • I-want-to-buy (e.g., “Leather messenger bags”)

From a business perspective, I might add:

  • I-want-to-overcome (e.g. “sluggish growth?”)
  • I-want-to-achieve (e.g. “business growth?”)
  • I-want-to-find (e.g.”good talent?”)
  1. Location-based Keywords: Like a trusted friend, Google suggests “near me” after many searches. Capitalize on such intelligent prompts by integrating location-based keywords into your SEO strategy.
  2. SMS Marketing: An avenue with a staggering 98% open rate, this channel far outpaces traditional email marketing and demands your attention.
  3. Mobile App Phenomenon: A Gallup study reveals that 72% of Americans check their phones at least hourly, with apps being their touchpoint. Entering the app domain isn’t just an option—it’s a competitive imperative.
  4. Mobile Payments: Stride alongside innovations such as Apple Pay and relish the efficiency it brings to transactions.

Mobilizing Your Business Growth for Tomorrow’s Success

The decision to adapt to mobile is no featherweight one. It’s about crafting an experience that resonates with a mobile-centric audience. Your mission? To forge interactions that are not just transactions but journeys enriched with technology and convenience.

Today’s small business owners stand at a crossroads between traditional operations and futuristic possibilities.

Embracing the mobile wave isn’t just about staying relevant; it’s about ambitious growth, tenacious innovation, and, ultimately, unwavering customer satisfaction. 

Can You Grow Your Business in an Uncertain Economy? Yes, with a Business Growth Strategist!

Posted by
Jackie Nagel, Synnovatia
Business Growth Strategist Weathers the Storm

Economic uncertainty can feel like navigating a ship in a storm. Mixed signals, especially prevalent in an election year, contribute to a sea of confusion for small business owners and entrepreneurs. How do you set sail and plot a course for success in such choppy waters? The answer: strategic thinking, planning, and execution in partnership with a seasoned business growth strategist. During the economic downturn of 2008, entrepreneurs faced the harsh winds of change. Businesses hunkered down as a storm of recession-battered the marketplace. And yet, amidst this tempestuous backdrop, a few resilient businesses not only survived but thrived. What set them apart?

Business Growth Strategist Weathers the Storm

The Bellwether of Business Resilience

My Dad, weathered by The Great Depression, often remarked, “We need to tighten our belts.” That era demanded frugality and foresight, virtues that proved vital during the 2008 recession as well. Even as we tightened our financial belts, some businesses couldn’t keep pace with the surge. However, those that could sustain a growth rate of 20% or more? They did more than stay afloat—they navigated the storm. Fast-forward to 2013, and the murmurs of a looming economic decline began to surface. These prophecies foretold a global downtrend touching down in the United States by 2020. What wasn’t predicted was the maelstrom of COVID-19—a disruption that capsized a staggering 22% of small businesses by April 2020. Yet, a year later, a beacon of optimism shone through. An astonishing 89% of small business entrepreneurs firmly believed in their businesses’ survival. In other words, we’ve been through this before.

Navigating Business Growth Rates

During my time roaming the halls of UCLA Anderson School of Business, Professors Yvonne Randle and Eric Flamholtz shared how they navigated many through the growing pains of entrepreneurship. Here’s a glimpse of the five rates of growth they charted:

  1. Less than 15% Annually—Growth: Steady as she goes! This rate, while not meteoric, ensures you can double your business in five years without capsizing.
  2. 15–25% Annually—Rapid Growth: The winds pick up. Are you prepared for the increased effort, investment, and the challenge of thinning margins? This is the stretch where strategy makes all the difference
  3. 25–50% Annually—Very Rapid Growth: Now you’re catching gale-force winds. The demand to expand and innovate is palpable, and so are the rewards for those who can withstand the pace.
  4. 50—100% Annually—Hypergrowth: At this exhilarating speed, it’s crucial to keep a keen eye on the horizon to steer clear of any obstacles.
  5. Greater than 100% Annually—Light-speed Growth: This is not just growth; it’s a transformation. Here, agility and foresight will determine whether you soar or crash.

In this tumultuous economic ocean, which rate is yours for the taking?

Why You Need a Business Growth Strategist

You might wonder, “Is it truly possible to achieve such growth in today’s uncertain economy?” Here’s the secret: the courageous captains who weathered the roughest seas had a “strategist” by their side, ensuring they weren’t just reacting to the waves but riding them with intent. A Business Growth Strategist isn’t just a coach or consultant; they are your partner—bringing you clarity, sharpening your focus, strengthening your resilience, challenging your premises, assisting with setting strategy, and guiding you towards the desired horizons. They provide the compass, and the map, to discover profitable routes you might have missed.

 Your Call to Action

It’s time to raise the anchor and unfurl the sails. With strategic thinking, execution planning, a compass point for every decision, and a clear map of growth rates, you’re equipped to sail even the most uncertain of economic seas. Are you prepared to be the optimist who, in the face of adversity, not only survives but prospers? If your answer is a resounding “Yes,” then it’s time to join forces with a Strategist who can steer your course to safe harbor and beyond.

Take the helm. Be the beacon. Grow boldly, grow strategically. Grow sustainably.

Don’t weather this storm alone. Contact us today and discover how, together, we’ll chart a course for success that keeps your business thriving, no matter the economic forecast.

Entrepreneur Recharge: Combat Fatigue & Drive Business Growth

Posted by
Jackie Nagel, Synnovatia
Business Growth Strategy Fatigue

As an entrepreneur, have you ever felt the creeping sense of overload inching its way into your mind and body? You’re not alone. Entrepreneur Fatigue is the silent killer of productivity and business growth. But how do you battle this unseen adversary and reclaim the vigor needed to pursue your entrepreneurial dreams?

The High Stakes of Ignoring Fatigue

Imagine steering a ship through a storm with bleary eyes — that’s what managing a business exhausted feels like. Think about it; when was the last time running on fumes led you to your finest hour? The answer, I wager, would be never.

The crushing weight of fatigue doesn’t just dent your well-being; it cascades down to every facet of your business and personal life. Can you identify the telltale signs?

  • The irritability that snaps at a team member’s innocent question.
  • That mental fog when focus is imperative.
  • The clutter drowning your workspace… and your thoughts.
  • A simple distraction pulls you off course.
  • The lapse in memory when every detail counts.

Sound familiar?

These symptoms aren’t just inconvenient; they can be dire to your business growth. Missing a crucial deadline or alienating a valuable client can have serious repercussions. After all, in the fast-paced business world, one misstep can mean the difference between closing a deal and closing your doors.

Business Growth Strategy Fatigue

The True Cost of ‘Business as Usual’

With fatigue, ‘business as usual’ is anything but profitable. It’s that insidious force that gives rise to stalled business growth and rash decisions. And while the hustle culture applauds those who burn the candle at both ends, we must ask ourselves: At what cost?

Breaking the Cycle 

So, how do we dismantle this vicious cycle? How do we restore the balance not only in our businesses but in ourselves?

The simple prescription is this: Rest. Recharge. Refocus. Let’s explore these three R’s that can revolutionize your approach to entrepreneurial vitality:

Rest: The Foundation of Performance

It’s not about how many hours you put in but about the quality of those hours. Working smarter isn’t just a catchphrase; it’s a survival tactic. Could a short nap be the power-up you need to tackle the next challenge? It’s time to ditch the stigma around a midday pause.

Recharge: Cultivate Sustainable Energy

Consider it: when did you last take a day for yourself? Shift gears and take that vacation without a smidgen of guilt. Your business is shaped by the creativity and clarity that only come from a well-rested mind, not just hard work.

Refocus: Prioritize with Precision

Are you tackling tasks that align with your ultimate goals? Every action should be a stepping stone toward success. By eliminating the excess, by honing in on what truly matters, you not only mitigate fatigue but accelerate growth.

A Call to Action for the Weary Entrepreneur

This isn’t just a plea; it’s a rallying cry for sustainability in our business and personal lives. It’s time to forge a new path where well-being and success go hand in hand.

So ask yourself — are you ready to defeat Entrepreneurial Fatigue and step into a future where your health and your business thrive together?

The next time you’re too tired to pole-vault over a chalk mark, take two of these — Sneak in a nap. Grab a day off.  Seize a long walk. Carve out a break — and call us in the morning! 

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Brooke Billingsley

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Synnovatia is a strategic coaching firm that is detailed and knowledgeable about business. i have a small business that grew from $150K to $750K because of the goal setting and resources that Synnovatia provided. It saves me years of learning on my own.

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