For Kathryn Wood, the founder and CEO of Pivotal Momentum Inc., entrepreneurship is more than just a career—it’s a legacy shaped by a lifetime of lessons, an unwavering focus on service, and a commitment to empowering small businesses. Her story is one of resilience, adaptability, and a sharp strategic vision honed over decades of experience.
Kathryn’s path to entrepreneurial success began in her early years, growing up in a small business family. “My dad and his business partner started their business after World War II,” she recalls. “I saw firsthand how small business owners live and work, pivoting their services as markets changed and the world evolved.” It was this environment that ignited her passion for helping others navigate the challenges of business ownership.
Three years after graduating from university, Kathryn started her first business with her brother. “The experience of starting and operating multiple small businesses—and coaching others, especially through the pandemic—keeps my passion for helping others alive,” she says.
Finding the North Star: Strategic Clarity
Kathryn’s approach to business starts with what she calls the “North Star”—a guiding principle that anchors decision-making and long-term vision.Without a North Star, small business owners can fall into what I call the ‘shoebox mindset,’” she explains, “making decisions based solely on the resources or opportunities in front of them today. My goal is to shift their mindset to consider a much broader set of possibilities and then go after the ones that best move them toward the North Star.”
Her goal is to shift their perspective, helping them move from reactive decision-making to proactive strategy. By focusing on a clearly defined vision, business owners can build a more sustainable and inspiring path to success.
Lessons from a Small Business Family
Kathryn’s early exposure to entrepreneurship shaped her views on adaptability and resilience. “When my dad and his partner started their business, there were 10 others doing the same thing in the same area—an auto repair shop” she says. “Ten years later, they were the only ones left. I saw that business pivot at least four times in the decades that followed, all in response to market changes.”
She learned that success isn’t just about surviving market changes; it’s about staying ahead of them. This lesson fueled her determination to provide small businesses with access to the same strategic insights and expertise that larger organizations often take for granted. “Small businesses struggle because they don’t have the same resources,” Kathryn explains. “That’s where I come in. I see data, help develop ideas and leverage contacts that can save small business owners a lot of time and money.”
The Three Pillars of Entrepreneurial Success
Drawing on her own journey and decades of experience working with small businesses, Kathryn identifies three critical elements every entrepreneur must master:
- Pick Your North Star. “Define what success looks like for your business,” Kathryn advises. “Your North Star is the standard against which all decisions should pass. It helps you avoid distractions and focus on what truly matters.”
- Differentiate Your Business. “Too many entrepreneurs try to mimic their competitors without understanding the market dynamics,” she warns. “Focus on what makes your business unique. In today’s world, convenience and availability can be as important—if not moreso—than price.”
- Leverage Expertise. “Mastery doesn’t mean being able to do everything yourself,” Kathryn says. “It’s about knowing where to focus your energy—and becoming a master at that, then leveraging others’ expertise. This might mean developing the expertise of your workplace team, your suppliers, industry associations or other businesses.”
Navigating Challenges with Resilience
Kathryn doesn’t shy away from discussing the challenges of entrepreneurship. From cash flow issues to navigating the world of social media or finding and retaining the right talent, she has encountered and helped clients navigate it all. One common pitfall she highlights is the tendency for most small businesses to be under-capitalized at the outset and be unable to build up sufficient cash reserves to carry them through challenging times. “I’ve also seen entrepreneurs buy brand-new equipment when good used equipment would have kick-started production and left more cash for inventory or staff,” she notes.
“It’s a good rule of thumb,” she says, “to have cash reserves to cover six months of fixed expenses so you can weather tough times.”
Embracing Leverage and Delegation
As Kathryn reflects on her own evolution as a small business owner, she points to delegation as a key focus area. “In the past few years, I haven’t been able to move forward on the things that matter most to me—helping larger numbers of small businesses—because I hadn’t effectively leveraged my team,” she admits. Over the last year, she has prioritized conversations with her team to help them see where their passions and strengths align with the company’s goals.
This shift has allowed Kathryn to focus on what she does best: coaching clients in developing their “North Star” strategies that inspire and energize them into consistent action. “When your team understands the vision and sees opportunities for themselves within it, their passion gets turned on,” she explains.
Looking Ahead: Scaling with Purpose
For the next 12 months, Kathryn’s sights are set on scaling her business of helping small businesses succeed. She is developing a set of “success simulation tools” that will help small business owners long after a coaching conversation has concluded.
Kathryn also plans to continue sharing her expertise with broader audiences, leveraging platforms like LinkedIn and email marketing to connect with businesses that can benefit from her guidance.
Words of Wisdom for Entrepreneurs
If Kathryn could go back and advise her younger self, her message would be simple: “Listen to those who believe in you,” she says. “Often, we think we’ve set our sights too high and underestimate our own capabilities, but when you take the leap, you discover that people are willing to help, and you’re capable of far more than you think.”
Her advice to entrepreneurs is equally empowering: “If you get an idea or are presented with an opportunity that really excites you, say yes, even when you don’t know how you’ll pull it off. Put your imagination to work, leverage your connections and resources to move forward. In today’s world, which some call the “no normal,” there will never be a perfect time. You might as well go for it.”
Takeaways for Entrepreneurs
Kathryn Wood’s journey offers valuable lessons for business owners at any stage:
- Define Your North Star. Use it as a decision-making compass to stay focused.
- Differentiate Strategically. Don’t mimic competitors—find what sets your business apart.
- Leverage Resources. Master your chosen area of expertise and delegate or outsource the rest.
- Plan for the Unexpected. Build resilience. Ensure that you have financial reserves to navigate crises and invest in growth.
- Say Yes. Embrace opportunities even if they feel daunting; growth often comes from getting out of your comfort zone.
Kathryn’s story is a testament to the power of strategic thinking, adaptability, and community. By focusing on these principles, she continues to make a lasting impact on the businesses she serves—proving that with the right mindset and tools, small businesses can achieve extraordinary success.
Connect with Kathryn Wood on LinkedIn
