Tammy Sons, the CEO of TN Nursery, is a horticulture expert who enjoys her family, the outdoors, and nature. She is an avid plant advisor and is passionate about the plant industry. There are correlations between leaders in the plant industry and entrepreneurs, as both are trying to grow a business. Plants and gardening are gaining popularity among Millennials and Gen-Z, who often consider their plants as quiet pets. Entrepreneurs can learn from the plant industry to get Millennials and other consumers excited about their goods and services. Financial lessons from the plant industry can help businesses become financially fit.
Building community roots is essential for both nurseries and entrepreneurs. Nurseries often become part of the community by donating plants and gardening supplies to local schools, churches, and senior living facilities. By doing so, they attract and retain loyal customers. Nurseries also offer installation services and hold classes for existing and potential customers. Entrepreneurs can follow the blueprint of nurseries by giving back to the community and building relationships. Even online businesses can give back to their communities and ensure convenience for their customers.
Adapting to changing seasons and customer preferences is crucial for the success of any business. Nurseries change their plant selection and product offerings based on the seasons and consumer demands. Entrepreneurs need to be ready to adapt to changing market trends and consumer preferences. Adding new items or services to their offerings at least once or twice a year can help keep the business fresh and interesting to consumers. Sales can dip on best-selling items, so it is important to introduce new products or services while staying in the same niche.
Facing adversity head-on is a critical skill for both nurseries and entrepreneurs. Nurseries encounter threats from weather, disease, and insects, and they have contingency plans in place to protect their profits. Entrepreneurs need to have backup plans in case of system failures, natural disasters, or other unexpected events. Being prepared for adversity is essential for ensuring the financial fitness of a business. Entrepreneurs can learn a lot from nurseries about financial stability and preparedness.
Overall, entrepreneurs can learn valuable lessons from the plant industry to improve the financial fitness of their businesses. Nurseries provide important insights into building community relationships, adapting to changing market conditions, and facing adversity. By following the strategies and principles that nurseries employ to ensure financial stability, entrepreneurs can enhance the success and resilience of their businesses. Learning from nurseries can help entrepreneurs appreciate the importance of community engagement, adaptability, and preparedness in achieving financial fitness.