Grow A Small Business Podcast From Not Happy Jan to $12M Success: Penny Burke's Journey from Essence to WhereTo Research, Building a Market Research Powerhouse with People-Centered Growth and Global Impact in the Business World. (Episode 675 - Penny Burke)
In this episode of Grow a Small Business, host Troy Trewin interviews Penny Burke, Director of WhereTo Research, shares her inspiring journey of growing the company to $12 million in revenue and leading it through a successful merger with a global firm. She highlights the importance of strong people skills, strategic thinking, and staying passionate about business. Penny also reflects on her early days in advertising and how those experiences shaped her leadership style. This episode offers valuable insights into sustainable growth, effective leadership, and staying true to your values in the business world. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions:
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What do you think is the hardest thing in growing a small business? According to Penny Burke, one of the hardest things in growing a small business is managing time, especially balancing business development ("hunting") with project delivery ("cooking and eating"). She explains that in a project-based business, it's challenging to constantly juggle winning new work while also delivering high-quality outcomes. Additionally, she emphasizes that people management — hiring the right team and dealing with performance issues—is another tough but crucial aspect of sustainable growth.
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What's your favorite business book that has helped you the most? Penny Burke's favorite business book that has helped her the most is "How to Win Friends and Influence People" by Dale Carnegie. She considers it a classic and values its timeless insights on building strong relationships and effective communication—key skills in both leadership and business growth.
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Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Penny Burke does not recommend any specific podcasts or online learning tools to help grow a small business. She mentions that her husband uses such resources more than she does, and she personally prefers listening to music during her downtime instead of engaging with podcasts or similar tools.
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What tool or resource would you recommend to grow a small business? Penny Burke emphasizes the importance of market mapping as a methodology rather than a specific tool. She recommends identifying where your business can play, where it can win, and where you can build your fame. This market-focused thinking helps small businesses define their niche and develop a strong positioning strategy, which is critical for growth.
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What advice would you give yourself on day one of starting out in business? Penny Burke's advice to herself on day one of starting out in business is: "Just be good. Don't worry about size. Just whatever it is that you're going to do, do it really, really, really well." This highlights her focus on quality and excellence over rapid growth.
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Quotable quotes from our special Grow A Small Business podcast guest: The only thing I've ever wanted to be is good, and not just good, but great – Penny Burke Success is about working on great projects, attracting great people, and delivering great outcomes." – Penny Burke
People like working with good people; don't underestimate the power of being one." – Penny Burke