A large number of small business owners report being “happy” with their current situation. According to a Happiness Index survey conducted by Vistaprint, an impressive 77 percent of small business owners are “happy or extremely happy”. This is further supported by the American Express OPEN Small Business Monitor, which found that nearly 9 out of 10 U. S.
small business owners are happier to own and manage their own business compared to working for someone else. But what does success mean for different types of businesses? The TD Bank survey revealed that the biggest challenge for companies is finding the right people (26 percent). This is followed by the need to hire staff to run their growing business or to help increase turnover (72 percent). It's important to understand the challenges faced by companies in order to make an impact on their own future success.
Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. By focusing on this important business challenge, entrepreneurs can have a significant impact on their own success rate. I like working with business owners who see the value of creating more focused marketing communication and not doing things for the fun of it. Not only are small business owners very likely to be happy in their new career, but taking the right steps to build a strong foundation for the company can also lead to financial success.
For example, the business owner may have a 5-year plan that involves selling or unrolling the company to make a profit. So, while there is an inherent risk in any commercial venture, it's clear that small business owners are generally happy with their current situation and are ready to grow and expand. By understanding the challenges faced by companies and focusing on creating more focused marketing communication, entrepreneurs can have a significant impact on their own success rate.