Tammy Sons is the CEO of TN Nursery and an expert plant advisor who studied horticulture. She enjoys her family, the outdoors, and nature. There are correlations between leaders in the plant industry and entrepreneurs as both are trying to grow a business. The popularity of plants and gardening is increasing, especially among Millennials and Gen-Z, who view their plants as quiet pets. Entrepreneurs may not sell plants to these age groups, but they want to get consumers excited about their goods and services.
One financial lesson entrepreneurs can learn from the plant industry is to put down community roots. Nurseries often become part of the community by donating plants and gardening supplies to local schools, churches, and senior living facilities. They also offer installation services, hold classes, and build relationships with their customers. By following the blueprint that nurseries use to build roots in their communities, entrepreneurs can attract and retain loyal customers.
Another lesson entrepreneurs can learn is to be ready to adapt to changing circumstances. Just as nurseries change their plant selection and offerings with the seasons, entrepreneurs should also be prepared to add new items to their product or service offerings at least once or twice a year. This helps keep their business fresh and interesting to consumers, ensuring steady sales throughout the year.
Nurseries face threats from weather, disease, and insects, which they mitigate through careful plant care and contingency plans. Entrepreneurs can apply the same forward-thinking principles to face adversity head-on. This includes having backup plans for payment systems, data recovery strategies for online sales during disasters, and preparedness for any unforeseen challenges that may arise. Being prepared is essential for ensuring a business’s financial fitness.
Entrepreneurs can learn a lot from nurseries about financial stability. By understanding how nurseries operate to ensure their financial well-being, entrepreneurs can gain insights and strategies that can be applied to their own businesses. Even if they are not selling plant or garden-related products, there are valuable lessons that can be learned from how nurseries build relationships with their community, adapt to changing circumstances, and face adversity head-on.
In conclusion, the plant industry offers valuable lessons for entrepreneurs looking to improve their financial fitness. By putting down community roots, being ready to adapt, and facing adversity head-on, entrepreneurs can ensure the long-term success and stability of their businesses. Learning from the strategies and practices of nurseries can provide insights and inspiration for entrepreneurs in any industry.
