UGA SBDC in Columbus Focuses on the Why
Tuesday, August 5th, 2014
The idea that business leaders can better succeed by communicating why they are in business caught the attention of Mark Lupo, Area Director for the University of Georgia Small Business Development Center (SBDC) in Columbus. Leadership expert Simon Sinek presented the concept called the "golden circle" model for inspirational leadership in a TEDx Talk titled "How Great Leaders Inspire Action" filmed in 2009. It is the third most viewed video on Ted.com with nearly 18 million total views.
"Simon Sinek's work really changed our approach and our thinking. Most business leaders, when asked, "What is your business?" answer by saying what product or service they deliver. But, as Simon Sinek states in his TedTalk, “People don't buy what you do, they buy why you do it," Lupo said.
"Answering the why enables you to connect with customers at a deeper level and you can translate the "why" into a more meaningful brand presence."
The Columbus SBDC office began to think through the implications of starting with why about 18 months ago, concentrating first on applying the model to their own operations. Over the past six to 12 months, they have used the concepts in their consulting work with existing and pre-venture businesses. Client response has been overwhelmingly positive, according to Lupo.
The Columbus SBDC office has three consultants, each of whom works with approximately 100 clients each year. At any one time, 30 to 40 businesses are participating in one-on-one consulting or an SBDC program such as Grow Smart or Start Smart.
Keep Growing as Leaders
Lupo believes the best way for anyone to grow a business is to continue to grow as a business leader. The UGA SBDC programs are one way for business leaders to expose themselves to additional learning opportunities. The next GrowSmart™ program in Columbus begins in October and continues for seven weeks, making it a good strategic planning tool for the coming year.
"The SBA also offers good courses on their website that can be taken online and completed at your own pace," Lupo said.
In particular, the U.S. Small Business Administration offers a Government Contracting Classroom to help small businesses learn the basics of doing business with government agencies. The federal government purchases approximately $100 billion of materials and services from small businesses annually, but has extensive certification and contracting rules.
Small Business Challenges in an Improving Economy
So far in 2014, Lupo says the Columbus SBDC office is seeing more existing business seeking long-term funding to grow their businesses and restructure debt. The number of pre-ventures – new businesses seeking starting capital – is also on the rise.
"The lending environment is more favorable although it can still be tough for pre-ventures," Lupo said.
"Pre-ventures are directed to the SBDC and SCORE by banks for help in preparing their financial projections or in some cases, for assistance in reviewing the narrative of their business plans."
Existing businesses are often seeking help from the SBDC on their brand presence, including a marketing plan with social media. Many business leaders haven't had the time or opportunity to get to know the ins and outs of key social media platforms such as Facebook, Twitter, Linked In, Google Plus, You Tube, Pinterest and Instagram.
"Businesses at least have to understand how these platforms operate so they can gauge which platform to use to best reach their customers," Lupo said.
"Long term, it's essential to have some presence in social media."
More information on the University of Georgia Small Business Development Center is available at www.georgiasbdc.org. To reach the Columbus SBDC office, call 706-569-2651.
