Bite-Size Chunks of Wisdom

October 2010

Recent Posts

Depending on which study you read, you get conflicting viewpoints of the economic future of small business. This is exactly what Carol Tice noted in her recent post ” The Best Economic Indicator for Small Business Owners.”  Some business studies say things are looking up with lots of optimism in the marketplace; other studies indicate entrepreneurs are barely holding on by their fingertips. Who do you believe? And, more importantly, which study do you consider when planning the future of your business?


Although the many studies present interesting information, in many ways the economic future of your small business is an inside job. That’s really nothing new. Even during strong economic times, some business succeeded while others failed.

There are, however, three actions you can take to create your own economic climate of growth.  These include:

  1. Strengthen the belief  in yourself and your ability to achieve your dream.
  2. Create a well-thought out strategic plan based on what you want as opposed to what you think can be achieve based on the latest study.
  3. Commit to the strategic execution of your plan.

When it comes to determining the future growth of your business, say “YES” to trusting your inner expert.

Finally!  The SBA (Small Business Administration) is loosening its grip and providing microloans of up to $50,000 to small businesses.  In fact, the average microloan is $13,000.  For some small businesses, that can make the difference when surviving a slow economy.

In an article published on Saturday, Oct. 16th in the L.A. Times titled “U.S. gives small firms more access to microloans, Eric Zarnikow, who helps run the Small Business Administration’s loan programs says that for every loan, 1½ jobs are created or retained. When you consider that 80% of all businesses today have fewer than 10 employees, microloans play an important role in job creation…one loan and one job at a time.

Although the cost for lending microloans is more expensive than loaning larger amounts of money, it does seems that the SBA could find a better interest rate than 8 – 13% – especially in this economy. Even so, if you want more information about microloans for your mighty microenterprise, visit the SBA’s Microloan Program to find an approved intermediary in your area.

Picture this.  You’re traveling down the road at 90 mph.  Music is blaring. Kids are hanging out the window. And, the scenery?  Frankly, it’s all a blur.

There are some potholes in the road, the engine’s knocking, and you notice that Bobbie is missing – all clear indicators that this trip is headed for trouble.  You’re moving so quickly there’s little time to make sure you’re headed in the right direction…let alone determine where you’re at along the continuum of business growth.

Each business travels through four stages of growth and development on its way to maturity.  Common characteristics, growing pains and a primary focus define each one of those stages.

Do you know what stage defines your business?  It’s not uncommon to misidentify the stage.  Don’t make the same mistake as some entrepreneurs who base their business stage on years in the industry rather than revenue.

Is your daily business activity consistent with the primary focus of your stage of growth?  In this fast-moving information age, it’s easy to get distracted by other activities outside the primary focus.

Rev up your business growth by identifying your business’ stage of growth and aligning your daily activity with the correct focus.  It’s a trip worth taking!

Core Business Assessment


Brooke Billingsley

Vice President
Perception Strategies

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.

Search The Blog