How can small businesses balance investing in marketing and technology while navigating economic downturns and staying ahead of industry trends? In this episode, Natalie interviews Nathan Whittacre, founder and CEO of Stimulus Technologies, about his journey from starting a business at 11 to leading a successful IT firm. He shares insights on organic growth through referrals, the importance of investing in marketing and sales, and adapting to technology shifts like AI. Nathan also discusses his leadership approach using the EOS framework, his commitment to endurance sports, and securing a state grant to expand rural fiber networks.

Takeaways:

• Build and nurture relationships with community leaders and professionals to create a robust referral network. Engage actively in local networking groups and industry-specific gatherings.
• Utilize a mix of referral marketing, digital advertising, and participation in local events. Allocate a consistent percentage of revenue to marketing and sales to ensure ongoing visibility and client acquisition.
• Implement systems like EOS to foster organizational discipline and clear direction. Regularly review and refine operating procedures to maintain alignment with business goals.
• Prioritize client retention and satisfaction through dedicated account management and continuous improvement of services. Strive for a balanced growth strategy between new client acquisition and existing client expansion.
• Engage in activities that boost physical and mental well-being to enhance professional effectiveness. Continuously seek learning opportunities through reading, attending conferences, and engaging with peer groups.
• Be willing to invest in significant opportunities that align with long-term business goals, such as new technology or market expansion. Assess and manage risks through careful planning and team consensus.

Quote of the Show:

• “ There are always opportunities. It's about finding the right ones that make sense in the moment and for the future.”

Links:

• LinkedIn: https://www.linkedin.com/in/nathanwhittacre/
• Company Website: http://www.stimulustech.com

Ways to Tune In:

• Spotify: https://open.spotify.com/show/2D1YbT2QhKxIwbREpU7EMb
• Apple Podcasts: https://podcasts.apple.com/us/podcast/shift-thrive-ceo-insights-on-driving-change/id1740828813
• Amazon Music: https://music.amazon.com/podcasts/fa60b654-1955-4055-93df-fdd40c2a5c8f/shift-thrive-ceo-insights-on-driving-change
• iHeart Radio: https://www.iheart.com/podcast/269-shift-thrive-ceo-insights-166792501
• Pandora: https://www.pandora.com/podcast/shift-and-thrive-ceo-insights-on-driving-change/PC:1001086797

This show is sponsored by Magnetude Consulting, bringing you the thinking-Power of a Growth Consultancy and the Getting-It-Done Power of a full-service B2B Marketing Agency.

Learn more at: https://www.magnetudeconsulting.com