Latest Insights on Driving Business Growth

<p>Welcome to Grit &amp; Growth’s masterclass on the effectiveness of small business interventions in emerging markets — with hard data to back it up. Thanks to researcher Stephen J. Anderson’s studies with African entrepreneurs, you’ll hear why having a coach, getting classroom training, and learning how to delegate can drive growth and impact your bottom line.</p><p>Stephen J. Anderson has spent his entire career trying to bring rigorous research to international development efforts, whether at the World Bank, Stanford Graduate School of Business, or his current post at McCombs School of Business at the University of Texas at Austin.</p><p>Anderson makes his case for research on the effectiveness of growth interventions. He explains, “In the development sector someone says, “I have this great program,” and then they show you the best cases. But did this program or intervention really lead to that increase in firm sales and profits? I can't just cherry-pick or look at it anecdotally.”</p><p><strong>Top Six Masterclass Research-Based Takeaways&nbsp;</strong></p><ol><li><strong>Remote coaching works. </strong>The study of 930 Ugandan businesses proved that those companies that received coaching over six months&nbsp; increased sales, profits, and employment — by up to 50 percent!</li><li><strong>Coaching on your value proposition had the biggest effect</strong>. Anderson advises entrepreneurs to ask themselves, “What am I offering? Who am I offering it to? And why should they buy from me?” Think about your business model, think about the strategic shifts that you might have to make in the value proposition. Coaching or access to coaching can help you do that.</li><li><strong>In-person classroom training increases profits.</strong> The study of small firms in South Africa showed that those who received training — whether finance &amp; accounting or marketing — increased profits by about 25 to 30 percent.&nbsp;&nbsp;</li><li><strong>Networking with other entrepreneurs enhances learning. </strong>“We’re socia