Just 1 in 5 Business Owners Have Confidence in Their Tools to Achieve Success

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Robbins Research International (Tony Robbins) releases white paper showing American business owners are hungry for success, but are lacking in proven strategies & tools

Robbins Research International, the company behind Tony Robbins’ Business Mastery program, announced the release of an in-depth white paper on the current mindset of the American small and medium-sized business owner.

The 2020 edition of the company’s Business Owner Mindset Report asked 524 business owners and entrepreneurs questions that address the psychology that drives their decisions and attitudes toward future business growth. Questions were focused on the most common pain points of small business owners, such as work-life balance, financial stability, preparation for the upcoming recession, and the relative importance of purpose, or “finding your why.”

One essential finding was the significant gap between how entrepreneurs feel about their own skills versus the tools they have to succeed. More than half (52%) are still remarkably confident that they are prepared for whatever the economy pitches their way – including a full-blown recession. Just one year ago, the same study showed more than 6 in 10 reporting the same level of confidence, though, so news of a looming recession appears to be impacting the average business owner.

Still, today’s entrepreneurs are forging ahead with confidence, embracing their mission and rejecting old notions that success and sacrifice are one and the same. So what’s missing?

The research revealed that while business owners are certain they have the will to succeed, just 20% are very confident that they have the tools they need to get there. Finances are still the number one concern; in fact, the number of business owners who rate it as their biggest source of worry is growing. Yet entrepreneurs overwhelmingly love what they do and are optimistic about the future – they just need to put strategies in place to achieve their dreams.

“We wanted to understand what is keeping our clients up at night, and how we can provide better tools and resources to build their confidence, and, in turn, our economy.” said Brook Bishop, Executive Director of Business Mastery & Business Results Training at Robbins Research International. “These insights are essential to developing content for our offerings, such as our Small Business Owner toolkit and the Business Mastery program.”

For all the most valuable insights about the state of the American entrepreneur, view and download a complimentary copy of the white paper in full here.

About Tony Robbins:

Tony Robbins is a #1 New York Times best-selling author, entrepreneur and philanthropist. For more than 37 years, millions of people have enjoyed the warmth, humor and dynamic presentation of Mr. Robbins' corporate and personal development events. As the nation’s #1 life and business strategist, he’s called upon to consult and coach some of the world’s finest athletes, entertainers, Fortune 500 CEOs and even presidents of nations.

As an entrepreneur, he has more than 20 companies, a dozen of which he actively manages. At present, the companies he founded or partnered-in have combined annual sales of more than $6 billion a year. Also of note is Robbins' marquee philanthropy, which spans more than three-and-a-half decades of serving those forgotten by society – children, the imprisoned and the homeless. He is responsible for feeding more than 42 million people, and this year, through his partnership with Feeding America, Robbins has committed to personally provide 50 million meals to those in need, and he is at work to get matching funds to feed 100 million people this year alone.

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Jennifer Connelly
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