Invariably, these conversations will turn to the challenges these business owners face every day. This week, I had the opportunity to talk with three such small business experts and get a sense with what’s occupying their time these days. It’s remarkable how similar the challenges these business people face are. And how the solution to these issues often lies in being presented with a different angle on the problem.
For instance, Monica Green, the CEO of So Curly, So Kinky, So Straight, The Salon, told me it’s easy for small business professionals to overlook opportunities. She pointed to herself as an example, saying that she thought the easiest path for the growth of her salon would be to expand her brand and duplicate the salon. However, after going through the Goldman Sachs 10,000 Small Businesses Program, she learned there could be another way to think about growth: Generate training opportunities so that as people are moved through her training program, they can help her expand. She is in the process now of opening such a school.
A similar sentiment was echoed by Matt Radicelli, founder/owner of Rock the House Entertainment Group, Inc. He said one of the takeaways he learned from the Goldman Sachs program is that: “Anybody that can be your competitor, can be your partner.” This new line of thinking forced in him a change in thinking and he ended up acquiring his biggest competitor.
“Instead of worrying about watching my back for this guy who is gaining on me, I said, ‘Let’s work together. One plus one equals three,’” Radicelli said.
Elisabeth Sapell, founder/owner of All City Candy, said the experience of sitting in a room with like-minded professionals, such as is the case with the Goldman Sachs program, is inordinately valuable.
“It’s so easy to get caught up in the minutiae,” she said. “You forget to look forward.”
Learn more about the Goldman Sachs 10,000 Small Businesses Program and how it can help you learn to think differently about your business.