FEATURED POST OF THE WEEK

Our long-form article of the week. You can always view the current and past featured posts on Empower’s blog.

Go small and local with your holiday spending this year

It’s hard to believe, but the holiday season is here. I would say next week kicks off the holiday shopping frenzy, but I started getting Black Friday emails and text messages in October this year. Nonetheless, this is a great time of year to support small businesses and give back to causes you care deeply about. Even though there are specific days — like Small Business Saturday and Giving Tuesday — these aren’t your only opportunities to show appreciation for businesses and organizations that positively impact you and your community.

If you’re not a small business owner, you might not realize how crucial the fourth quarter — and, therefore, the holiday season — is for small businesses to hit their annual goals. One 2023 study found that 73% of small- and medium-sized businesses (SMBs) indicated that the holiday season accounted for at least 25% of their annual revenue, with that number being closer to 50% for retailers. However, only one-third of consumers understood the impact of their seasonal spending on these businesses.

Given that disconnect, take this week’s newsletter as a reminder of how your contributions this holiday season can make a real difference to your favorite small business’s success this year.

Small business headwinds during this season

The holiday season is competitive, and small businesses face unique challenges as they compete for our attention and wallets. Additionally, resources are typically tighter, leading to limitations on marketing spend, expanding reach and the ability to provide deep discounts.

Small businesses also feel the brunt of certain macro factors — like rising costs and talent shortages — more than their larger counterparts, making outperformance during this season even more important to them.

Five ways to support your favorite SMBs this holiday season

With all this in mind, consider these ways to support more emerging businesses this season and give them the boost they need to close out 2024 strong.

• Shop local: Purchase gifts, decor, food or services from local businesses and service providers.

• Spread the word: Encourage friends and family to support SMBs this holiday season. Share your favorite brands, products, restaurants, service providers, etc.

• Donate and volunteer: Support causes you care most about by donating or volunteering time to non-profits.

• Tip: Do you have small business service providers who have exceeded your expectations this year? Consider showing appreciation with a holiday tip.

• Leave positive reviews: Share thoughtful reviews about your experience with a business, its products and/or services. These can make a big difference in small business’s ability to attract new customers.

At Empower, we’re passionate about supporting emerging businesses and helping more of them succeed. These businesses are the backbone of our local economies and enrich our communities. By each of us doing our part to lift them up, we’re investing in the long-term viability of aspiring entrepreneurs. Let’s think small this season and remember how each of our actions can have more of an impact than we realize.

WEEKLY DOSE OF EMPOWERMENT

The weekly dose of Empowerment is meant to provide one weekly tip that’s both practical and approachable, to help drive incremental improvement to your day-to-day. We’re always open to your contributions as well. If you would like to submit a tip to be shared with the Empower community in a future newsletter, please reach out at [email protected] with the subject line “Weekly Dose of Empowerment Submission.”

From Edition 008 - Slow down to speed up: Use rest to propel you forward

Given our entrance into the holiday season, a time when finding time for rest and resetting can be vitally important to setting up a successful next year, this week I’m reposting our Weekly Dose of Empowerment from Edition 008: Slow down to speed up: Use rest to propel you forward.

“In the spirit of the holiday week in the U.S. and being in the midst of summer, this week’s topic is about rest. As entrepreneurs, we often equate hustle culture with success. But, what if taking a step back periodically was exactly what’s needed to take your business to the next level?

The concept may feel elusive to business owners, startup founders or high-octane Type A people, but let’s explore how rest may be a crucial ingredient for business leaders.

Why rest matters for entrepreneurs

• Prevent burnout: If you’re going go, go, go 24/7/365, eventually you’ll crash. Regular breaks help maintain peak performance, enhance decision-making and decrease overall stress.

• Spark innovation: A more relaxed brain can be more creative and wander in new directions to generate new ideas. You may think of your “next big thing” when you least expect it.

• Strengthen relationships: Your emotional regulation improves with rest. Periods during, or shortly following, rest are opportune times to build better ties with friends, family, colleagues, clients and other stakeholders.

• Boost health and resilience: Rest promotes physical well-being and better equips you to tackle inevitable business challenges.

Make rest more attainable

While we may agree rest is important for success, how to make the time for it might not be as clear. Here are a handful of pointers to make you feel empowered to take the time you need (and deserve):

• Schedule downtime: Proactively schedule time off and give your team ample notice. This allows time to plan and reduce people’s reliance on you while you’re gone.

• Empower your team: Provide the tools, resources and authority to enable smooth operations in your absence. Don’t forget to set clear expectations as well.

• Set boundaries: Establish and communicate clear boundaries around your availability (or lack of it). This includes your team, clients and other important stakeholders.

• Delegate: Appropriately delegate tasks to team members or via automation to reduce your workload and enable continuity when you’re away.

• Start small: If taking an extended break feels unachievable right now, start with shorter, but frequent rest intervals. Refer to Edition 004 to recall the power of even a short walk.  

Strategically working rest into your calendar isn’t a luxury. It’s the fuel to propel you forward. Your ability to recharge directly impacts your capacity to lead, innovate and grow.

This summer, challenge yourself to implement a better routine for rest. Keep track of how you feel and the impact on your productivity. Then, report back!”

JESSICA’S READ, OR LISTEN, PICK OF THE WEEK

A little something that got my gears turning this week and might pique your interest as well!

Recording of a Panel Discussion: Considering Startup Life?

TL;DR

In October, I participated in a panel discussion with Anna Murray and Marci Weisler during which we talked about all things related to joining a startup and startup life. I’m biased, but I think it was a balanced discussion with a range of perspectives from three women with breadth and depth of experience as startup operators, advisors and investors.

Whether you’re thinking about founding a technology startup, already founded one or considering joining an early-stage team, this conversation might provide more food for thought.

If you have a listen and want to share your reactions, reply to this newsletter!

JUST FOR FUN

Really, this section is just for fun. Who knows what will be in store each week?

In keeping with our focus on local businesses, here’s a fast-growing Nashville-based business that’s become a go-to gift of mine.

My top Ranger Station picks:

• Holiday candle scents

• Hand Wash & Cream Set

• Jordan’s Perfume

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If you’re ready to take the step, reach out to discuss how we can support your goals. 

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