Small Business Owners Optimistic About 2005 But Making Same Mistakes as Predecessors
The fourth annual survey of small business owners indicates a majority are optimistic about 2005 (74.2 percent) and their business future. However, analysis of the results reveals that most small business owners are still working without a defined plan of action and have not defined goals, yet they spend time and energy investing in advertising and marketing activities.
(PRWEB) February 17, 2005 -- The fourth annual survey of small business owners indicates a majority are optimistic about 2005 (74.2 percent) and their business future. However, analysis of the results reveals that most small business owners are still working without a defined plan of action and have not defined goals, yet they spend time and energy investing in advertising and marketing activities.
"Through this annual survey of small business owners, I've discovered that most of them continue to make the same mistakes as their predecessors," says Denise OBerry, President, The Small Business Edge Corp., a small business consulting firm located in Tampa, Florida. "Over 50 percent have no action plan, no goals, and no idea how to market their business, yet they expect an increase in revenue."
The good news is that most small business owners realize the value of having an "in-house" customer list (67.9 percent) and many have embraced email as an effective tool for their business. A whopping 89.7 percent use email to communicate with their customers compared to 47.2 percent who use regular mail.
"Perhaps because the majority of these small businesses are a one-person business (72.1 percent), they don't feel they need a plan - when in fact they are the most time-starved group who could benefit greatly," says O'Berry. "Even small businesses with two to three employees will be more effective with structure in place to guide their actions."
Clearly these small business owners need help, but seem stuck in the 'do it yourself' mindset. They deal with issues each and every day to maintain the independence they've worked so hard to achieve and they don't have a lot of time to waste on activities that reap no benefit for their small business. Helping them get unstuck from the 'I'm too busy to plan' cycle is critical to their success.
Key details from the survey may be downloaded (PDF) at http://www.whatspossible.com/small_business_owners_survey_results_2005.pdf
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