Will Holmes, founder of Will Holmes Consulting (WHC), has a head for entrepreneurship and a heart for helping people change their lives–and the lives of those around them. A firm believer in the “butterfly effect,” Holmes encourages business owners to innovate, create new jobs, and better lives for those they touch. Will–the winner of a 2024 Small Business Administration (SBA) Small Business of the Year award–offers key tips to help entrepreneurs channel their passions and prosper.
1. Give Freely and Fuel Customer Loyalty.
While every entrepreneur’s goal is revenue, paying it forward often yields repeat business. Offering free trials of a product/service or one-to-one advisory session can strengthen customer loyalty and expand your reach in the marketplace. “Give to get, and people will tell others about your product or service,” Will advises. “As long as you have what they want, customers will keep coming back.”
2. Caring Fosters Long-Term Connections.
Relational transactions, which deepen your ties to customers over time, are more rewarding than transactional interactions, which are short-term. Taking cues from Will’s playbook, the best entrepreneurs conduct business with a combination of heart and head. Keeping up with your customers’ lives feels good on every level, and helps you anticipate what they may need as their circumstances (and preferences) evolve. Sending special invitations to product launches, personalized recommendations, and acknowledging life milestones shows you care and keeps your services top of mind.
3. Pivoting is Part of the Process.
Customer needs are constantly evolving, so businesses with the best potential for success must remain flexible. “Money is green, no matter what’s going on in the world,” Will states. “If you can find a need in the market, you can get paid.”
During the pandemic, entrepreneurs and municipal governments across the DMV sought real-time strategies to help businesses stay afloat. Seeing an opportunity where others saw a challenge, Will created an entrepreneurship curriculum, aptly titled “Find a Need. Fill a Need. Get Paid.” to help small businesses meet the moment. To date, over 600 entrepreneurs have benefited from the curriculum. Since then, Will’s curriculum has been used by county and city governments, Johns Hopkins Carey Business School, the U.S. Department of Defense, and the U.S. Small Business Administration. “About 80% of program graduates have increased revenue, created jobs in their communities, and accessed capital,” he shared.
4. Leverage Your Support System.
Local businesses have a support system that is qualified to help entrepreneurs access capital, mentorship, and resources in tough times. FSC First offers businesses the practical tools to succeed with Level Up programming, targeted loan programs, coaching, and consulting for every phase of growth. “FSC First is laser-focused on lifting entrepreneurs,” said Will. “They understand the needs of their community and are fully committed to elevating the communities they serve.”
Will is a frequent presenter at FSC First’s Capital Matters program, which supplies entrepreneurs with the fundamentals for growth. From marketing to accounting, Capital Matters helps small businesses hit the ground running and scale when the time is right.
To access more of Will’s insights, visit our Capital Matters page for forthcoming session dates and bookmark his website.
