Babson Magazine Entrepreneur Spotlight

Win / Loss analysis client logoRichard Schroder, MBA ’95, founded Anova, his market research and strategy consulting firm, in 2005. “For seven years, I worked for a firm where I learned the trade and helped build the company,” says Schroder. “I owned a piece of it, so when it was sold, I was able to start Anova. We now have seven employees. We’ve doubled our revenue every year since inception.”

Anova Consulting Group, LLC—named after a statistical term for data analysis— provides customized market research and management consulting to senior executives at financial services firms in the defined contribution and defined benefit space.  Some of Anova’s clients include Charles Schwab, New York life, ADP and Putnam Investments.

The company has three main lines of business and focuses on helping clients improve client satisfaction, increase new business win rates and capture a larger share of the IRA rollover market.   “Our business is a combination of a product and a service,” says Schroder. “Marketing for Anova is very specific. It’s all personal, one-on-one relationship building.”

Schroder enjoys the challenges and creative possibilities of being an entrepreneur.  “I’m more passionate now than when I was an employee,” he says. “I think about my business all the time.”