1. Why, how and when did you start your own business?
I started my own online business at the end of 2005. I started and I only programming skills that I had and was intended to serve as a resource to provide the motivation and strategies to help entrepreneurs in business. And 'now the largest collection of famous entrepreneur stories online, and offers more than 400,000 visitors each month an entrepreneur.
2. What does the research reveal the success of small businesses in 2008?
What I liked about the results was that small businesses make big business customers by providing excellent customer service. Consumers are more ready to be queued and be treated like a number. The small business owners understand this, and exploits that need to build successful new businesses
3. The study captured the six dimensions to measure success: Access Capital, Marketing and Innovation, Workforce, Customer Service, information technology and compliance. What do you think are the priorities for making small businesses more competitive?
Customer service will continue for the driver with a small commercial success. By paying attention to the needs of its customers, entrepreneurs can build more profitable relationships to better understand their needs and to bring to market superior products and services that add real value.
4. According to the results, the availability of capital and marketing and innovation are the two main inhibitors to success. Do you agree? Why or why not?
I disagree with this on several fronts. I do not agree that access to capital is greater weight index. To say that customer service is only 1 / 3 as important as access to capital would be a slap to all entrepreneurs who built a thriving business with attention to the needs of its customers.
With regard to raising capital, yesterday, most entrepreneurs bootstrap. They do what it takes to get the money they need to start and often start small by offering a service that requires less activation, unlike a more expensive product. After selling my first company I joined the world of venture capital and learned first hand what it takes to raise funds. I also noticed that only one out of ten companies that have received support never great and most companies either failed or have been referred to as "walking wounded" - still struggling along, but nowhere. Venture capitalists expect and I know this is a company that does more than pay for other mistakes. Throwing money at a problem is not solved, and access to capital is not the main driver of success in small businesses.
I do not think that marketing and innovation are very important factors for success. However, I agree with the score of C as an entrepreneur today. Small business owners are behind almost every revolutionary idea that this world has ever seen. Why not have money, entrepreneurs must be innovative, but the way they invent new products and services, but also in how they market. Small business owners are some of the most innovative people you will ever meet, and it shows in all aspects of their operations. Marketing and innovation are certainly important for drivers of success of small business owners and entrepreneurs will certainly do better than the score of C-.
5. What is the impact of current economic situation in the capital access, marketing and innovation?
The current economy makes it more difficult access to the capital permanently. It will force employers to customers and build a real business. Investors are not ideas for more funding, they want to see that traction company and customers. It will, however, increasingly innovative entrepreneurs with both its offerings and marketing. Necessity is the mother of invention and contractors will be pushed to the wall with an ultimatum: If your company does not succeed, then you will be able to feed their families. It is a powerful incentive to find other ways to meet the challenges ahead and succeed. Remember that the innovative concepts like the supermarket (based on the Great Depression of the early 1930) were born of hard times and small business owners are still the driving force of innovation.
6. The results show that one third of small businesses feel able to determine the profitability of the owner. What is your advice to entrepreneurs and small business owners in terms of adding value to your business?
The best way to increase the value of your company is to build long term value of your customers who are not linked to you personally. Entrepreneurs often struggle to sell their company to anyone wishing for one of two reasons. The first is that the company is very profitable and have a stable income. It's nice to have a high current income, but they float on the bottom line, if you want a good score. In addition, you have enough brand equity with your customers so that they are regular customers and returns? A business based on repeat business and long-term contracts are increasingly valuable as it ensures the stability of society.
The second reason why a company can not sell at a higher value is that it also related to the owner. Could grow your business without you? You must create a system where you can eventually remove yourself from the operation completely. If your business relies on you for always being there when you do not build a business you just bought yourself a job. But well-paid, it may be, it is still a job.
7. According to the study, "Small businesses rely on a range of Internet business solutions and computer technology to succeed." What online services do you think is better to help entrepreneurs and small businesses? Why?
Online marketing has proven to be the most effective way to get the word out about your company. Entrepreneurs use a variety of tactics such as search engine optimization, pay per click advertising, newspapers and the media. Make sure you focus on what is taking you import. Coca Cola can afford to spend millions of Super Bowl commercial, but you need to invest, where you can quickly measure, if it works or not. Pay per click advertising is a good example. For every dollar spent, you can directly measure the number of leads, or in some cases, customers have created. If that fails, you can cancel your campaign and try something new.
Many small business owners are quickly exploit market inefficiencies in the network. The big are still very backward and there are still many opportunities where you can capitalize. Entrepreneurs need to get or familiarity with the marketing team on-line or get someone who is an expert.
8. According to you, such as entrepreneurs and small businesses SBSI use to their advantage?
I think SBSI is a useful tool for entrepreneurs looking to evaluate what the other entrepreneurs develop their businesses. Entrepreneurs are often caught in a vacuum and has a base of business owners to discuss strategy. The SBSI is a valuable resource they can turn to understand current pressures other entrepreneurs face and make strategic adjustments in their own business.
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