Over the last six weeks we have heard from you and your stories of growing from small to big in our quest for “smallvolutionists” and you have you delivered. We have heard from all over from companies of all sizes and shapes.
Recently, we heard from Gary Brooks of Exit Plan Pros on our Smallvolution Facebook page and here is what he posted:
Reaching Out to Learn More
Planning exits you say? According to their web site, “Thinking of selling your business? Our executives have brokered the sale of over 100 companies. We offer a proprietary Business Growth & Exit Planning program that helps business owners increase the value of their business as they plan and execute their exit.” That is really a cool type of company and one I wish I knew of when I sold my business two years ago.
What they essentially do is help business owners prepare the company for a good valuation which gets them the highest value for all of their hardwork. This is not an overnight thing and requires a team of people who have skills in all types of disciplines, namely mergers and acquisitions, to work with the owners of a business to get their operations in order. Pretty cool huh?
We thought so too and reached out to learn more about Exit Plan Pros and Gary was gracious enough to answer our questions. Here is the transcript:
1. What has been your greatest success so far in your growing the business from small to big?
The greatest success was finding out that there was a real need for the business that I had envisioned and subsequently developed. It is very satisfying to find a concept that has been readily accepted by the market after investing four or five years developing it.
2. What has been your greatest challenge?
The greatest challenge was finding the time amid my busy daily schedule to formalize and then execute my business idea. I believe that many great ideas are left on the shelf to rot because of the entrepreneurs’ need to feed and clothe his or her family. I was lucky enough to find the time at night or on weekends to work on my idea. Also, I was developing the idea when the market was not saturated with competitors. I definitely see that there are more companies in the space now than when I began. Luckily there is no one dominant competitor. Since my business is primarily a service business, my idea did not require a lot of investment capital to develop. Finding cash would have made this process much more difficult, particularly in the current environment.
3. How have online social media tools like Facebook, Twitter and Blogs helped you market your business?
Social Media Tools have helped us with marketing because it allows us to communicate with our audience directly. We spend twenty-five percent of our time on the blog because it helps us evaluate what content and advice our readers are really interested in. This is done by evaluating Google Analytics and seeing which blogs and keywords were read or clicked on the most. By consistently providing the right content, it leads to customer retention and satisfaction. And by providing content that is popular among our readers is a good way to increase our SEO.
Twitter and Facebook are two of the most popular sites where people spend most of their time, so why not take advantage of an opportunity where you can communicate directly with your audience, and make it bigger. A simple tweet can catalyze an entire discussion about your upcoming business event or blog. This leads to more visits to your website or blog, which can transition into more customers. The same goes for a Facebook comment (which is how we connected with Network solutions!).
We love social media because it’s a simple and savvy solution for attracting customers.
4. Looking back, what are 2-3 things you would recommend to fellow entrepreneurs looking to grow their business from small to big?
There are a couple of things I would recommend. First, I believe the most important aspect of growing your business from small to big is that you complete a very rigorous competitor analysis survey. I have seen many businesses ideas fail because after a lot of time, and often times money, has been invested. Then it comes to light that there are companies that have already established themselves in the space. Once there are established competitors, the task of carving out a piece of the market can be much more difficult. Luckily, the internet has made this process a lot easier.
Secondly, there is the issue of acceptance. Even though you may have developed some great new technology or product there is no guarantee that it will be received with open arms. I have been involved with a number of startups where a new disruptive technology was not immediately accepted by the market. The product acceptance curve was much slower than anticipated and that was very frustrating to management and the investors. They could not understand why people were not lining up to buy the product. The concept of “change” and why people are fearful of it is hard for entrepreneurs and investors to accept.
For more information on Exit Plan Pros, check out www.exitplanpros.com
Got a “Small to Big” Story? We Want to Hear It.
We’ve all got that brilliant idea that started as a simple napkin sketch and somehow became its own full-fledged life force. Maybe it was a mouth-watering cupcake that became a catering business. Or a simple idea that became a successful enterprise. Whatever your “Small to Big” story, we’d love to hear it.
We’re launching a new movement- The Smallvolution, and we’re asking you to join.
What’s the Smallvolution, you ask?
It’s a movement of people, ideas and businesses that see the big in Small. Small sees possibilities where others see obstacles. Small is agile, passionate and all-around inspiring. At Network Solutions®, evidence of the Smallvolution is seen everyday-and you’re a part of it.
Welcome to the Smallvolution. Tell us your stories on our Smallvolution Page and become a Fan at www.facebook.com/networksolutions
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