Small busines owners need to answer the growth concern
There is no doubt small businesses are the life blood of our great country. If you are a small business congratulate yourself! One of the best things I decided to do was start my own business. It was also the hardest thing I have ever taken on. There is no doubt that being a small business owner can come with advantages but the truth is, there are many pitfalls that can threaten the life I have worked so hard to create.
According to Brainerd Dispatch:
- The 23 million small businesses in America account for 54 percent of all U.S. sales.
- Small businesses provide 55 percent of all jobs and have provided 66 percent of all net new jobs The number of small businesses in the United States has increased 49 percent since 1982.
- Since 1990, as big business eliminated 4 million jobs, small businesses added 8 million new jobs.
In 2015, small business owners will contend with many of the same issues that made it hard to run their companies over the last 12 months. “Uncertainty is the bane of every small business,” says Scott Shane, a professor of entrepreneurship at Case Western Reserve University’s Weatherhead School of Management in Cleveland.
Top Small business Concerns
- Qualified workers
- Offshoring- moving services and manufacturing to other countries
5 Things Small Businesses Can Do Now to Grow
It’s easy to get sucked into the day-to-day operations required to keep things running smoothly and profitably. But take time to work on some of these items:
1. Articulate Your Vision, Your Purpose, Mission & Core Values
- Are the activities you are doing today in line with your goals?
2. Provide Training For Your Staff
- A staff that is trained to do their job will be happy and that is reflected in how they treat customers.
3. Invest in technology
- Invest in technologies that will keep your business up to date. Avoid over-investing in technologies that may not be compatible with current programs.
4. Develop key relationships
- Hire qualified payroll, marketing & HR Firms, insurance agents, and attorneys to help you manage your business.
- Get your health and benefits program and strategy established early
- Make a personal connection by picking up the phone and actually speaking to another person. Don’t rely too heavily on email and texting
5. Lifelong learning is the way to go
- Commit to learning something new at least once a week.