Serial entrepreneur and business author rewrites his list of success factors for start up businessesAfter an extensive internet search to see what others say about success factors, I found exactly one which included my number one in their top ten. On that particular resource, my number one was their number ten. The other lists were created using various approaches, including interviews with successful entrepreneurs, studies compiled by consultants or writers, and off the top of the head articles based on experience.
My research? As a marketing consultant I have spent the last ten years helping over 170 small businesses in very disparate fields with increasing their sales and profits. Over the past year I have participated in organizing MasterMind groups and Business Networking Referral called E-TEAM. Through this effort I have been introduced to another 100 companies where I was able to go deep into their companies success factors.
Also, I have started and managed 15 successful small businesses and 3 unsuccessful ones.
So here is my top ten list of why businesses succeed:
If you follow my blog or other writings, you know that I want to be remembered for the phrase "nothing happens until something is sold." In my dealings with small business owners over the last half century, I am constantly appalled by the lack of sales skill. That lack of skill is often accompanied by a fear of prospecting, cold calling, and selling. Well, I don't really care how good your location is, how wonderful your product or service is, or whether you are priced right if there is no one to get the word out. And no, you won't get folks lined up at your door or your phone ringing of the hook with great web presence alone.
If the owner hates to sell, desire to succeed, desire to help others, desire to spread the word about the fantastic offer the company is making can overcome the reluctance to do the hard thing and sell. This proposition can be applied to all the other hard things, like hiring, firing, working 100 hours a week, or digging deeper and deeper into savings when necessary, then calling Uncle Harry when your own money runs out.
If the owner is lukewarm about the business, the smallest hurdle can undo the entire effort. But if the owner is passionate enough, there is almost nothing that can get in the way of success.