‘It Felt Like a Secret Hidden In Plain Sight’
As part of their How to Unlock Your First Million Dollars issue, Entrepreneur Magazine sat down with CEO Jenny Groberg to talk about how she learned to delegate in the wake of a sudden traumatic brain injury. The injury forced her to step back and consider new ways to run her business.
Through opening up about the company’s finances and profit-sharing with her COO, Emily Van Brocklin, Groberg was able to focus on her health, and later, on the growth of BookSmarts.
“‘That should be the role of every CEO, to delegate as much as you possibly can [to] go out and keep building,’ Groberg says. Being able to divide the work paid off; with over 50% client growth, it was the first year that BookSmarts surpassed $1 million in revenue.”
When Groberg returned full-time to the business, delegating meant she could play to her strengths and really hone in on outreach and sales. That year, BookSmarts grew by 50% and hit the million-dollar revenue mark for the first time.
The article includes insights from nine other up-and-coming business owners, including things like revisiting your big idea, catering to your ideal customer instead of your own preferences, launching variations of the hero product, flexible packaging, being open to a new business model, embracing the scrappiness of a startup, and investing in the credibility of your company.
Groberg’s story highlights the broader theme of flexibility and adaptation that many successful founders have embraced. Ben Witte of Recess, adjusted his product line from CBD-infused drinks to those with magnesium L-threonate to navigate regulatory challenges. Sophia Edelstein and Nathan Kondamuri of Pair Eyewear reengineered their manufacturing process to meet customer demands for more styles, resulting in explosive growth. Loren Castle of Sweet Loren’s reformulated her cookie dough to cater to allergen-sensitive customers, carving out a unique market niche. These founders, like Groberg, show that reassessing and adapting business strategies can unlock substantial growth and success.
You can read the full article in the May/June print edition of Entrepreneur.
If you are ready to take your business to new heights, partner with BookSmarts today and let us handle your financial needs while you focus on what you do best: growing your business.
