Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with Natalie Nathanson, Founder and President at Magnetude Consulting:
What does your company do?
Magnetude Consulting is a B2B marketing agency that works with entrepreneurial firms who want to grow more rapidly and compete more effectively. We help clients with limited in-house marketing capacity to market the right way in today’s increasingly complex environment by providing fractional marketing department services. Our full-service capabilities span a range of growth-oriented service areas including marketing strategy and messaging, digital marketing, inbound marketing, demand generation, channel marketing, sales enablement, content development and brand visibility. We also offer fixed-scope Marketing Assessments & Planning engagements to help companies analyze, benchmark and develop the best marketing plan to meet growth objectives.
What is your role? What do you enjoy most about your role?
As the President and Founder of Magnetude Consulting, I have the pleasure of working with a talented team and a fantastic client base. I founded the company after seeing the challenges facing smaller B2B firms in today’s business environment—and understanding how much positive impact the right kind of marketing support can have on a company’s growth trajectory. To be successful in this role, I have to stay current on marketing practices and tech sector trends. This pushes me towards constant learning for our own firm and on behalf of our clients, which makes the work quite rewarding.
What are the biggest challenges in your business right now?
Our biggest challenge is the constant balance of ensuring we have the right mix of skill sets and capacity on the team to support our client’s needs at any given time. As a services firm, our people are essentially our product, so having the right people available at the right time is critical to successfully serving both existing and new clients. This requires us to closely align our Sales, Human Resources and Client Services efforts to ensure we’re planning resource allocation effectively.
If you could go back in time, what business advice would you give to a younger version of yourself?
An important lesson I’ve continued to hone over the years is having the confidence to make tough decisions and stick to what feels right (morally, ethically, financially). Conducting business as a genuinely good, honest and pleasant person pays off, even when the party at the other end of the table is not operating at the same level. I also love keeping a handful of mottos in mind to guide my business practices, a favorite being Wayne Gretzky’s: “you miss 100% of the shots you never take”.