Previous Click for More

stk165661rke-dek

From inc.com:

There is no magic formula for small business success, but most owners who do well share the same six personality traits, according to a new report.

The Guardian Life Small Business ResearchInstitute report hopes to explain why only 1 in 2 small businesses will survive more than five years, according to Small Business Administration figures. The study – called Six Dimensions That Characterize Success-Oriented Small Business Owners – is based on analysis of a survey of 1,100 small businesses with between 2 and 99 employees. (The Institute is run by the Guardian Life Insurance Company of America, and it conducts ongoing research on what it calls “the Index of What Matters Most” to small businesses.)

Top of the list for successful entrepreneurs is the ability to collaborate. Those who can delegate, build strong relationships with their management teams, employees, and others are more likely to click with customers.

The other five traits frequently found in flourishing small business owners:

• Being self fulfilled. Good small business owners put a high price on the fulfilment their companies provide them, relish being their own boss, and enjoy being in control of their personal income. They value “doing something for a living that I love to do,” “being able to decide how much money I make,” and “being able to have the satisfaction of creating something of value.”

• Future-focused. Small business owners who thrive are good at both short- and long-term planning. They’re as likely to have a well thought-out plan for the day-to-day running of the business as a road map for how to run the business for years.

• Curious. Good entrepreneurs are always reading and asking questions. They want to learn everything from why a particular business failed to how to find, motivate, and keep good employees.

Click here to read more ...

Text continues after gallery ...

RELATED ARTICLES

The Best Industries For Starting A Business Right Now

Oprah Tops Forbes’ List Of Most Powerful Celebrities

Ed. Secretary Duncan: Black Male Teachers Needed

Recommend to friends!
  • BlackPlanet
  • TwitThis
  • Facebook
  • E-mail this story to a friend!
Tags: ,
12  Comments
  • AfricanSpeechJul. 6th, 2010
    at 5:59 am

    @bvince…

    Yeah, that is a different thing… Not talking about getting work… Talking about getting the right size of customers and how much money and capital it would require to get and keep them…

    Sometimes, you can get way too much than you can handle and then what do you do if you don’t have the money or capital to hire more staff to keep u pwith demand?

  • bvinceJul. 6th, 2010
    at 1:01 am

    @AfricanSpeech “How much money is enough to be effective in your marketing strategy?”

    Well, you have make people come to you. There was a black woman here in Dallas that put up a billboard that read: “Looking for a job, I specialize in corporate training and facilities. Please call 972-XXX-XXXX” and you know what……she got a great job!! She had over thousands of calls and job offers. People want a person who will go that extra mile besides…who will do business with you if they never heard of you?

  • MiSz_PiNk_DiamOndJul. 4th, 2010
    at 8:05 pm

    I think that it depends on your business. Customer relations is something easy in retail, but not so easy if you have a non traditional small business. I would go to a small business that knew me by name, and knew exactly what I wanted. I also dont think you have to spend that much on marketing because word of mouth is a powerful thing. And with this day and age of the internet, marketing costs are not as expensive as they once were and are by all accounts—something you could do yourself

  • easy_one65Jul. 4th, 2010
    at 3:04 pm

    As the 8th commentator (LOL@ bvince!)….I’ve read over a million and one marketing strategies in my 20+ years in graphics. What it boils down to is, do what works best for you and what “you” are comfortable with spending your marketing dollars on. True, it doesn’t take a lot of money to get the ball rolling but when the customers do start coming in, stay ahead of the game by having a good, well-planned marketing strategy that backed executable to take your sales to the next level. The one thing that discourages most small businesses is “tunnel vision.” Get out of that mode and develop sixth sense (peripheral vision). “Anyone” and “any” job, no matter how small, is an opportunity to create more business and increase sales. Creativity, also, is extremely essential in the marketing process. Keep your eyes and mind open to new ways/approaches to expose your product/service to any potential market (mobile apps/radio/print media/internet/etc.)…Kiss your customer’s feet and you’ll never have to kiss their @zz!…meaning: customer service should always be A-1 at all times/fail-safe/flawless…

  • AfricanSpeechJul. 4th, 2010
    at 6:01 am

    “You’re going to have to take it to the next level and spend a little cash.Gotta spend money to make money.”

    And therein lies the rub…

    How much money is enough to be effective in your marketing stategy?

    Customer relations is one thing if you have a few customers but if your customer base ballons so much, how do you maintain quality control of customer service? The huge companies still haven’t figured that out yet…

  • MiSz_PiNk_DiamOndJul. 4th, 2010
    at 3:02 am

    I definitely think customer relations make up a good part of it.

  • EddieFrancisNOLAJul. 3rd, 2010
    at 9:30 pm

    Effective marketing can be done without spending a boatload of money, guys. I do marketing for a university who’s being hit hard by state budget cuts, so I have smoke and mirror everything. Off the top of my head, I would say this is what leads to effective marketing:

    1) Understanding your customers, their needs, and their wants.

    2) Doing research to find out what they need and want. Focus groups are a good way to do that, and you can hook up low-cost surveys from an online service like Survey Monkey.

    3) Create an eye-catching logo, develop a well-thought out slogan, and being consistent with those elements. Most importantly, develop your mission to create an identity for your brand. Once you know what your brand is, you can figure out how to approach your customers. Kind of like you can’t love anyone else until you love yourself.

    4) Figure out what makes your business unique. Marketing and advertising professionals call it a USP or unique selling proposition.

    5) Use social media for exposure. When you want to sell, however, you’re going to have to take it to the next level and spend a little cash. Gotta spend money to make money.

    That’s what I can think of off the top of my head immediately as quick starter points.

  • AfricanSpeechJul. 3rd, 2010
    at 6:20 pm

    @bvince…

    Totally right… Marketing is key and that’s what I am finding out so I guess I am gonna spend a lot on marketing on my stuff too…

    The best example of marketing was how Microsoft cornered the software market even when they had crappy products…

  • bvinceJul. 3rd, 2010
    at 5:11 pm

    I find that in running my business it’s all in the marketing. If you can market really well your business will thrive. I mean look at Rihanna or Lady Gaga. To me they are no talent hacks but thanks to great PR and marketing they come off like they are highly talented. With the right marketing team the sky’s the limit. I’m a diehard Cowboys fan and I see how they are marketed….hmmmm…we should take notes of that strategy. The key is to make the public NEED you. Make them think you are the greatest think since sliced bread.

    On a side I doubt this forum will get more than 6 comments. Black people on here will be over at the ‘Kim K. and interracial’ forum yelling obscenities at one another or in the ‘I hate white women,and why are they taking our men’ forum. They are not ready to talk real business….y’know something to help them. Just not ready….just a bunch of slaves still fighting for that last piece of cornbread instead of taking the whole dinner.

  • elchico509Jul. 3rd, 2010
    at 3:55 pm

    I used to believe that you need big Capital to start your own business. Recently, i have found that you can start as low as $100 dollars. If you are looking for a way to fire your BOSS and walk away from the Corporate America and be YOUR OWN BOSS.

    I have the solution for you right now:
    http://bit.ly/9VfcD0

    70% of people in the US are not happy with their current jobs. With the Recession right now, everybody is afraid to lose their J.O.B.

    If you are tired of living from paychecks to paychecks. I want to be your Mentor Today and show you the way.

    Please, visit my website above and let’s connect.

    “If you can succeed your mind you can succeed your life. Your mind is the most important thing in your life. Your mind is more important to you than anything else in this world.”

  • AfricanSpeechJul. 3rd, 2010
    at 3:54 am

    Still the only poster on this one…

    *sigh*

  • AfricanSpeechJul. 2nd, 2010
    at 6:09 pm

    Good post…

    This is News One isn’t it?

    *Checks banner again… And again… And again…*

Post a Comment
You must be logged in to News One to post a comment.
Log in here or register for an account here.