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It’s that time again.

2022 has now come to an end, so if you haven’t started forming a business plan for 2023, now is the time to start. To help you out, here are some useful suggestions on what you should be planning for your business in 2023.

Assess Your Long-Term Goals

When it comes to entrepreneurial innovation, few things are more helpful than tangible long-term goals. These all-important benchmarks will allow you to measure your progress while achieving growth.

With that in mind, take some time and visualize your goals for this next year. Don’t be afraid to be brutally honest with yourself.

When assessing your goals, it’s important to understand where you’re heading and why you want to move in that direction. This is where honesty and introspection come into play — any business leadership mentorwould agree that the ultimate enemy of any entrepreneur is their own delusions of grandeur.

Practice Entrepreneurial Innovation

Ask yourself what your business contributes to the field and how your refined vision will help it reach the goals you’ve outlined. Focus on the unique properties you bring to the table, including anything you can do to impart a cutting-edge strategy to your daily operations. 

This reflective practice is known as entrepreneurial innovation, and it will help you maintain relevance in a rapidly changing technological environment.

Prioritize

Many entrepreneurs fall into the trap of lofty thinking and neglect to zero in on concrete, actionable goals and objectives.

One of the best ways to stay out of this trap is to prioritize your goals so you can achieve them incrementally. Paying close attention to what you’ve accomplished and what you still need to do will help you stay ahead of the curve — and your competition.

Now that you’ve planned for future work, all that’s left to do is calibrate your future work to stick to your plan. Here’s to a happy and successful New Year!

Entrepreneurship and innovation are intrinsically connected. This means that your success as an entrepreneur is contingent on your ability to think outside the box, seek alternative solutions, and be as creative as possible in order to address the needs of a given market. Putting these abilities to work is called “entrepreneurial innovation.”

But what exactly does this concept look like in practice?

Creating New Products

One of the clearest examples of entrepreneurial innovation is in coming up with a product that did not previously exist. It takes a certain amount of creativity to provide a solution for a need where there hasn’t been a solution before.

Improving Existing Products

Is there something about a popular product that bothers you or you feel could be improved? Envisioning a way to address that problem and create a better product is a form of entrepreneurial innovation.

Improving Production Methods

Sometimes, you have a great product, but it costs too much to make. Entrepreneurial innovation can involve the rethinking of your current production methods in order to improve your margins and make the product an overall more commercially viable one.

Reimagining the Business Model

There are certain business models that have been so successful for so long that it’s easy to take them for granted and anticipate that they’ll exist forever.

But those with a strong sense of entrepreneurial leadership (and entrepreneurial innovation) can often find a way to create a whole new paradigm by reimagining that business model

Creating a Whole New Market

This form of entrepreneurial innovation is likely the rarest because it requires both impeccable and fortuitous timing. But it does happen, and it will continue to happen.

Sometimes, great technological and cultural changes open up an opportunity to form an entirely new market, and entrepreneurial innovators who think and act quickly are able to capitalize on that opportunity.

Entrepreneurial Innovation Can Benefit Your Business

Whether through creating brand-new products or reimagining existing products or markets, entrepreneurial innovation can prove to be a beneficial and exciting concept worth putting into practice.

Innovation isn’t just about technology. It comes in all shapes and sizes. Whether you are an entrepreneur or an intrapreneur (someone who thinks like an entrepreneur within their organization), you can make it happen! If you need help, consider a visit to the Fountainhead Idea Factory.

Starting a business is the pinnacle of professional goals for many people. Whether you’ve spent years learning the industry from an employee perspective and you’re ready to venture out on your own, or you have a brilliant idea you want to explore, pursuing entrepreneurial innovation can deliver unmatched personal and professional rewards.

Creating a business plan isn’t necessarily rocket science. There are templates and guides to help you if you don’t have a background in business. With that being said, crafting a successful business plan that will get you funding and carry your venture into a bright future requires a targeted approach.

Research, Research, Research

The importance of research when developing your business plan cannot be overstated. You need to detail the specifics of how your business will operate, from broad strokes to nuts and bolts. You need to understand your market, demographics, and competition.

Your plan should include all startup costs: a lease, staffing, supply chain, and office furniture. It should address every concern a prospective lender or partner may have, so do not skimp on the research.

Don’t Reinvent the Wheel

If you have some background in business, you may already know the basics of creating a business plan. Even if you’re new to the process, it’s not hard to find templates that show you the steps and tell you what to include. You don’t need to go it alone.

In fact, learning from others is probably the best way to craft a successful business plan. Seeking business mentorship through seminars or programs offered by industry leaders can help you to develop a toolkit for success from start to finish.

Embrace Entrepreneurial Innovation

In business, it doesn’t pay to rehash old ideas. You either need to offer something new or come up with a way to improve something that’s already out there. Finding a niche isn’t easy, but it’s the best way to stand out. 

When you develop your business plan appropriately, with strong research, expert mentorship, and innovative ideas, you have the best chance of finding success in your endeavors. 

Failure doesn’t need to be the end of your project — it can be just one more tool that helps with your ultimate success. One of the most important things you can learn from a business mentorship is that the only people who never fail are those who do not try.

Four Lessons Business Mentorship Teaches About Failure

It’s okay to fail. In fact, failure is inevitable for
anyone with entrepreneurial innovation. But once you begin seeing mistakes as opportunities (and not proof that you don’t have what it takes to reach a goal), you can embrace failure for the valuable lessons it provides.

1. Failure Helps You Grow Stronger

Failure is an experience that separates the doers from the dreamers. Doers get knocked down but bounce right back up with a stronger commitment to their goals. Don’t let failure stop or break you — let it motivate you to do more, do it better, and keep doing it until your idea succeeds.

2. Failure Sparks New Ideas

Sometimes, the best ideas come from ideas that didn’t work. Brainstorming by yourself or with others to find new solutions sparks some of the best creative thinking you’ll ever experience. Failure drives people to try different avenues and find the path they were meant to walk.

3. Failure Keeps You Humble

Successful people are confident, curious, driven, and self-assured. But they are also humble enough to admit that they don’t know everything and need the input of experts to achieve their goals. Don’t fall into the trap of thinking that you and you alone know best. Instead, use failure as an opportunity to tap into the expertise of others.

4. Failure Deepens Understanding

Getting a clear picture of where things went wrong improves your understanding of the project as a whole. The deep dive that some failures provoke also provide an opportunity for entrepreneurs to reexamine their motives. You may realize you feel more committed than ever after a failure.

Don’t Fear Failure

The fear of failure prevents some people from ever getting started. But we’d encourage you to adopt the mindset of M. Jayson Meyer, who pioneers the idea of positive failure through his Failing Forward Initiative. That is, learn to let failure propel you into greater success.

Letting go of the anxiety of potential failure frees you to become a more creative entrepreneur. Embrace the lessons failure can provide, and remember — you only truly fail if you quit before reaching your goal.

Throughout our lives, we’re taught to fear failure and avoid it at all costs. This becomes especially true as we grow older and our failures have more real-world stakes than simply falling off your bike while learning to ride or losing a match with your school sports team.

As adults, failures can have life-altering consequences, especially if you launch a business endeavor that ends up falling short of the goals you’ve set. Though these consequences can seem overwhelming, it’s important to understand that setbacks are inevitable in life, and what makes the biggest difference is how you respond to them.

How Failing Forward Can Lead to Success in Entrepreneurial Leadership

The concept of “failing forward” is the idea that even a circumstance that could be considered to be a failure could end up moving your life and career in a positive direction.

If one endeavor doesn’t work out or a piece of your plan doesn’t pan out the way you expected, you’re now armed with knowledge and experience that you didn’t have before. This knowledge and experience could be the very thing that sets you on the ultimate path to success.

Many of the most successful CEOs and professionals in the entrepreneurial leadership space are embracing the concept of failing forward. This mindset encourages people at all stages of their business journey and career to shift their perspective on failure and use each setback as a lesson, rather than a completely negative circumstance.

Find a Mentor and Shift Your Mindset

For many people, a business leadership mentor can be the catalyst for greater success with their company. However, the efforts of great mentors can only be used to their full capacity when this crucial mindset shift takes place.

This shift to the belief in failing forward can free business professionals from the fear of failure and turn it into an opportunity to level up in their industry.

As a boy I can remember my mother saying “it isn’t failure if you learn a lesson.” That re-wired how my brain looked at both risk and failure. It taught me that life is a learning process. It is about learning a lesson and continuously improving. Today, it’s how I lead and model the way for those around me.

Can music and sound affect your mood and brain power? Many researchers believe specific sounds, beats or music may be able to encourage positive thinking, boost moods, and improve cognitive processes. Jayson is a big believer in it, too, and even plays music throughout the office!

If we all know that music can make us feel happy, inspired, creative, reflective — or, more likely, a mix of it all! — then doesn’t it make sense that different frequencies can do the same? It might seem a little out-there, but there’s actually a science to the way different frequencies can unlock your mind – and your potential.

Auditory beat stimulation (ABS) is the idea that using sound waves at different frequencies can generate beneficial effects in the brain. Some extremely low-frequency sound waves may help with relaxation, and others may improve focus and alertness. So, how does this affect business endeavors and our day-to-day lives? Let’s take a closer look at ABS.

The Effects of ABS

Sound waves are captured by the human ear, then processed by the brain as certain tones or pitches. In many ways, this is how people understand and appreciate music, which is just a series of tones heard in time.

If you hear a low-frequency tone, the pitch sounds low. You hear a high-frequency tone, and the pitch sounds high. The average human ear can detect sound waves from about 20 Hz (cycles per second) to 20,000 kHz. ABS is effectively the study and practice of using various frequencies to stimulate the human brain toward certain effects.

The interesting thing is that a lot of the most calming sound frequencies aren’t even technically audible. That is, the human ear can’t hear them. For instance, sound waves from 4 to 13 Hz are thought to produce relaxation and reduce anxiety, even though they can’t be heard by the human ear.

How ABS Works

As various audible sound frequencies are introduced to the human ear, a perceptible “beat” can be heard, if the frequencies are not identical. If the frequencies are far apart, you would normally hear musical harmonies. If they’re only a few Hz apart, you would hear a clashing sound, as if the music were out of tune.

ABS leverages these physical phenomena to produce precisely targeted beats with mathematically precise differences in frequencies. Because the frequencies are so low, they are not audible — but they do indeed affect the brain.

Some studies have shown that ABS actually alters synaptic activity in the human brain, and positive results have been reported, including better sleep, fuller relaxation, and reduced anxiety and stress.

ABS and Entrepreneurial Leadership

A boost from the effects of ABS means enhanced thinking that comes from better sleep and less anxiety, then entrepreneurial leadership should grow by leaps and bounds through ABS. Creativity could quite possibly become totally unleashed, and who knows what you could achieve?

For Better Rest and Better Focus

While extremely low frequencies seem to reduce stress and anxiety, some low frequencies in the audible range — around 40 Hz — seem to stimulate the frontal lobe and increase the brain’s ability to focus. It could be that using ABS therapy is the way forward for major potential breakthroughs, not just in human thought but also in well-being. If everyone were a little more fulfilled through better rest and lower anxiety levels – and if everyone had a leg up through a better ability to focus and reason clearly – who knows how much could be accomplished? Perhaps ABS could be a powerful resource in your pursuit of achieving your goals, big or small.

Everyone has a great idea inside them — that dream or passion project you simply can’t stop thinking about. But when it comes to executing that great idea, even the best would-be companies and inventions can die on the vine because you simply don’t know how to make your dream a reality. Even large companies can face this kind of challenge. Fortunately, there’s something you can do about it!

Whether you’re already working with a company or you’re an individual trying to make it with a big dream and a passion, here are the three key tips for turning your ideas into reality — a.k.a. going from a dreamer to a doer.

1. Become Obsessed With Your Vision

As a dreamer, you likely have so many ideas swirling around your head at all times. In order to become a doer, you’ll have to get specific about the dreams you’re going to focus all of your time and attention on. These specific dreams will become your vision!

Don’t just spend a few hours a day or week thinking about your vision, though. Become obsessed with it! Make it your pastime, your hobby, Tinker with it night and day so that you are thoroughly familiar with it. This doesn’t mean spending 24/7 in your office, though; in fact, spending time with your vision can be an exercise in creativity! The more you think about your big idea and have fun with it, the more it will stick with you (and you, in turn, with it).

As you begin to take little steps toward your desired outcome, always keep your vision close to your chest, and make sure you never forget your “why.”

2. If You Can’t Find a Way, Make a Way

In some situations, the dream that you’re trying to make a reality simply hasn’t been done before. Perhaps there are even people in your life telling you that your idea will never work and that you shouldn’t try. But don’t worry – stick with it! Remember, nothing is truly a failure if you learned a lesson from it, so don’t be afraid to persist. You don’t want to stop short of the proverbial finish line when you’re only a few steps away.

When dreamers look for a way to make their goals happen but can’t find it, they often give up. Doers, on the other hand, will simply make their own way and forge a brand new path for others to follow. You have to be willing to go outside of the norm, sometimes, and that’s okay.

3. Believe in Your Potential

The other fun benefit of not seeing failures as, well, failures — but opportunities? You become way more confident. When you realize that failure isn’t an option, and start to fully have faith in yourself, you’ll feel unstoppable. And remember to celebrate all the little victories along the way. Even if they feel small or inconsequential, they’re actually unlocking your next level of potential.

Remember, this isn’t “blind faith.” You have every reason to believe in your ideas and abilities! Once you realize that, you might just notice your mindset starts to shift in an exciting way.

At the end of the day, no one path to success looks the same. And even then, everyone’s “success” may look different, too. But the only way to achieve success is to actually take steps toward it. While every step may not be what you planned or how you planned it, every avenue is a learning and growing opportunity. What big idea do you want to make a reality? What is your first step to becoming a “doer” not just a “dreamer?”

Looking for ways to improve your communication, boost your confidence as a leader, and engage with your organization (and community) on a new level? Public speaking is the answer.

This may not be your favorite form of communication — but by honing your speech skills, you will be able to execute your vision on a larger scale than ever before. The best part? These tips aren’t just for keynote speakers. They’re useful for CEOs, team leaders, and anyone in your organization looking for ways to get meaningful messages across in clear, accessible ways.

Ahead, five ways you can improve your public speaking skills — starting today.

Be a storyteller

The first step on your journey to better public speaking? Stop thinking of yourself as an orator, lecturer, keynote speaker, or whatever the occasion might call for. You’re a storyteller, first and foremost!

According to Jennifer Aaker, a marketing professor at Stanford University Graduate School of Business, stories are more memorable than facts alone — up to 22% more memorable, in fact. That’s significant! Most people probably don’t see themselves as natural public speakers, but we’ve all told a story before: a funny anecdote to a friend, a teaching moment to your child, a spooky tale told around a summer campfire. By tapping into your storyteller side, you can help make the public speaking process a little easier.

Even settings that seem more formal or fact-focused can benefit from story elements. For example, if you’re making a financial presentation, you may be able to illustrate key findings with a story about how they impact your organization on a more personal level. Of course, you don’t need to forego exciting figures and important data entirely — but by bolstering your speech with a humanizing story, you make it that much more powerful!

Be kind… to yourself!

We tend to be our own worst critics, especially when it comes to public speaking. Though this type of communication can be nerve-wracking, it’s helpful to remember that everyone’s been there, in some or another. Look at it this way: when you’re an audience member, are you picking apart every detail about the speaker in front of you? Or, more likely, are you trying to absorb what they say — maybe even getting lost in your own thoughts about your next meeting, or upcoming projects?

The bottom line: no one will ever analyze you quite as much as you analyze you! Once you embrace this, you’ll be able to relax and engage with your audience on a new level.

Keep logistics in mind

It’s easy to forget presentation and technology logistics while you focus on the material of your speech, but this is an important step, too! You don’t need to use props or an elaborate slideshow to make your speech more engaging — but if you find it helpful to illustrate key concepts, you’ll want to ensure that the setting of your speech is compatible with whatever software you decide to use. (The last thing you want before a big speech is technical difficulties!) A few more considerations:

• How easily your presentation flows from point to point
• The amount of information on each slide (it’s best not to “overcrowd” a page, even
  digitally)
• How you plan to speak and control your slideshow at the same time. Don’t be afraid to rehearse this for a smooth presentation day of!
• 93% of communication is non-verbal. Sometimes, it’s less about what you say and more about how you say it!

Know your audience

While certain speech practices work across the board (such as the power of storytelling!), you’ll still want to refine your approach for your specific audience. Consider factors such as:

• Whether you’re speaking virtually or in-person
• The level of formality of your event
• How well you know your audience
• The audience size

Chances are, you’ve been part of many different audiences — keynote speeches, quarterly presentations, school orientations, you name it. Harness these experiences to inform your approach. For example, what did you like (or dislike) about a memorable guest speaker? Where
possible, jot down notes about speeches that captivate you in the moment, so you can employ those strategies when it’s your turn. You’ll thank yourself later!

Knowing your audience is also about making your audience more important than the words you are using. Connect deeply with the audience and they will retain more and be more engaged.

Learn by example

Speaking of speeches that inspire — if you want to seriously expand your communication skills, learn by example! You wouldn’t write a book before reading a few first or make a delicious dessert without embracing your sweet tooth from time to time. The same idea applies to public
speaking. Fortunately, there are plenty of ways to access engaging speeches you can learn from, whether you find buzzworthy talks online or welcome a guest speaker to your organization! On that front, Jayson Meyer is more than happy to help.

With experience delivering encouraging, effective messages on a variety of topics — from maximizing revenue to motivating employees — Jayson is ready to support your team and share valuable public speaking insights at the same time! Connect with him today to learn more.

When profits are down, business leadership often makes up for that shortfall at the expense of employees. They may freeze wages, cancel bonuses, or eliminate perks. At the same time, they often expect employees to intensify their efforts.

Additionally, leadership may sacrifice customer experience. This is often justified with claims that it’s necessary to boost revenue and cut expenses.

All of these choices are demoralizing for workers and frustrating for customers. Fortunately, things are starting to shift — and many companies are now putting people before profits. Keep reading to find out why and to learn some improvement strategies for businesses that want to make similar changes.

Why are people-first approaches getting more popular?

Businesses are making this change for several reasons. First, consumers are demanding it. Price and quality may be key considerations, but customers also want to buy from companies that share their values. This means:

• Paying people well and offering attractive benefits
• Committing to environmental stewardship
• Caring for the community

Customers are also demanding that companies deliver better experiences. All of these developments have led leaders to realize that more stakeholders are involved in business success than just the investors. People are the key input ingredient to any business. Hiring quality people and taking care of them leads to more customer engagement and satisfaction which ultimately leads to more profitability.

People-focused improvement strategies for businesses

A company can experience long-term success if it has employees who are engaged and happy, customers who are proud to be associated with it, and a community that believes it adds value. Doing the right things for the right reasons follows the laws of attraction and brings into our personal realities the things we desire. Focusing on quality outcomes, whether that’s a customer engagement or a relationship, leads naturally leads to profit. Here are some strategies to achieve that success:

• Create a social responsibility statement and ensure your policies reflect it
• Audit and improve diversity efforts
• Build a pro-employee culture
• Collect employee feedback and act on it
• Review salary and benefits schedules
• Offer workers autonomy and flexibility
• Hire for cultural fit
• Train leaders to manage for outcomes, not processes
• Make a commitment to improving sustainability
• Create initiatives to give back to the community

People before profit aren’t just nice words it is a time-tested philosophy that works. As you make modifications, remember that small, permanent changes over time will have more impact than major shifts that can’t be sustained. When we focus on adding value and serving others the profit always follows.

Looking for more insights on balancing people with profits in your organization? Connect with Jayson Meyer today.

Jayson is the consummate entrepreneur, dating back to high school days when he formed his first business in the rough-and-tumble computer and software industry. At the ripe age of 14, he was recognized as an early teenage whiz-kid on Oprah, 60 Minutes and other national and regional media. Later, Synergy Billing was cited as Inc. Magazine’s 762nd fastest growing company among its “Inc. 5,000 Companies.” His company has been lauded among the GrowFL and the Economic Gardening Institute top fifty companies to watch. Synergy Billing also earned First Place honors in the Brighthouse Regional Business Awards program.  Today Synergy Billing, an acknowledged and innovative leader in revenue cycle management, credentialing and education for Federal Qualified Health Centers around the country. He employs more than 100 people with a steadily growing workforce. Synergy Billing recently celebrated the first anniversary of the company’s move to its new headquarters at The Fountainhead in Holly Hill, a Google-inspired corporate campus that he conceived and is developing in collaboration with city and county officials. Additionally, Jayson is highly engaged in the community, serving on various boards of directors and volunteering. Finally, as a dedicated family man, Jayson and his wife Misty are busy raising their five young sons.

Jayson’s accomplishments over the past twelve months are as impressive in size as they are in the face of historic challenges he – and everyone – has faced. While he could have put his development plans on hold, he pressed on in his quest to create a model corporate campus for his company and other like-minded business professionals. In doing so, he generated a partnership with city and county officials to create The Fountainhead. It is currently wrapping up the first phase of development, having become the headquarters for Synergy Billing and its workforce of more than 100 people. Consequently, he has transformed a blighted and abandoned middle school site to a vibrant environment full of promise. In addition to hosting his own company and several compatible businesses, plans also call for  a community health center, daycare center, fitness center and dining facilities. As the developer of The Fountainhead, he has dramatically enhanced the economic development appeal of the City of Holly Hill. Jayson has guided this project through the myriad challenges typical of development, and he has deftly maintained a rapid pace of progress through the historic COVID-19 pandemic. By doing this, he was able to maintain service to his clients and keep his workforce on the job. Since his clients provide their communities with vital health care services, he has remained committed to serving them without interruption during this global health care crisis.

During the past 12 months Jayson has been a catalyst for business and development by creating his corporate campus, The Fountainhead, where he has relocated his workforce of more than 100 people to the new corporate headquarters.  He has been active in partnership with Stetson University‘s entrepreneurship program and is a founder of Innovate Daytona, which is a vital resource for entrepreneurs. In an effort to show there is nothing wrong with failing, he has advanced the Fail Forward Movement to help entrepreneurs learn to overcome challenges. Jayson has accepted speaking engagements to share his expertise with aspiring entrepreneurs and served as a judge in Embry Riddle Aeronautical University‘s student competition. Because of his belief of ensuring youth have character building programs, he serves on the board of the regional YMCA. He also encourages his employees to volunteer at a local food pantry as well as other charity activities during business hours – with pay. In a time when many companies are eliminating jobs, Jayson is actively recruiting workers and offering career-building training through his Synergy Career Academy. Jayson is working to expand facilities at The Fountainhead, setting the table for relocation of other businesses to the campus and thus generating new jobs for the community. He has worked in collaboration with CareerSource in providing training and job opportunities for the long-term unemployed.

Jayson is quick to say his greatest accomplishment is his family. He has a wonderful wife and five highly active sons. He enjoys doing things with them – cooking on weekends, playing volleyball and attending their sports games (before the pandemic). Recently his oldest son started to workout with him. And he takes each one on an annual “Birthday Trip” to spend one-on-one time with them, building lasting memories with each trip. Aside from his commitment to family, Jayson is a community volunteer. His efforts, along with those of his employees, earned his company Business-of-the-Month honors from Food Brings Hope, a 501(c)(3) public charity dedicated to providing collaborative solutions for families with children who experience hardships due to homelessness, poverty, or unfamiliarity with community resources – there are more than 2000 homeless children attending schools in Volusia County.