Of all the bad business habits out there, which one would you most like to break? Micromanaging? Overspending? Procrastination?
Would it surprise you to learn that “wearing too many hats” is the bad business habit that 35 percent of business owners say they’d want to kick?
Yes, that’s right. Taking on too many roles and responsibilities is what more than one-third of small business owners said they want to change.
That was the top choice of bad business habits to break, in the sixth annual Brother International Small Business Survey, conducted by Wakefield Research.
We small business owners are notorious for wearing many hats. Apparently, quite a few of us do not see that as a good thing.
Since 2008, the number of employer businesses going under has exceeded the number of employer businesses being founded, driving down the stock of American employers. Combined with the 49 percent decline in the per capita rate of formation of new employees that occurred between 1977 and 2012, this trend has some observers worried.
Jim Clifton, the CEO of Gallup, argued in a recent article that the recent pattern is America’s “single most serious economic problem” and that “economy is never truly coming back unless we reverse the birth and death trends.”
While I agree with Mr. Clifton and others that the three-decade long decline in the new employer creation rate is distressing, I believe that the problem it reveals is more subtle than his article lets on. Taken in conjunction with other data, the decline in the rate of employer firm formation indicates primarily that American business owners are becoming less willing to hire others.
Technology and software are among the most important investments a company can make nowadays, especially when it comes to security. The growing demand for IT services and security solutions prove that business owners know the threats that are out there, and want to do something to guard themselves against increasingly cunning cybercriminals.
You might have purchased a well-rounded security solution with all the recommended features a business might need, but was the investment really worth it? A forthcoming report from security solutions provider Trustwave found that organizations of all sizes are wasting their security dollars, and none more so than small businesses.
It’s the time of year that all of the experts predict what will happen in the new year.
Of course, no one really has a crystal ball, but there are certain things you can tell are going to happen, just based on experience and perspective.
The communications industry is no different and it’s important for business owners to stay abreast of how an industry is changing, if only so you know the right questions to ask when you’re hiring for that particular skill set.
We asked members of the Entrepreneurs’ Organization (EO) to share their thoughts on what it takes to be a great entrepreneur. Here’s what they had to say.
“One characteristic which separates good entrepreneurs from great ones is grit. Being an entrepreneur isn’t easy and you won’t always make perfect decisions. However, the leaders who can persevere through both the good and bad times have what it takes to be a great entrepreneur.”
Jeff Martin, EO Minnesota
CEO and Founder, Collective Genius
Doing a less than stellar job keeping track of your business finances? Maybe your New Year’s resolutions should be to get your financial house in order.
To help, Greg Jones, CEO of Bookkeeping Express, a franchise bookkeeping services offers the following financial tips for business owners to financially prepare for the New Year.
- Review bank statements and credit card statements
These statements should always come to the business owner or card holder unopened. Review them thoroughly before passing them to the bookkeeper or other employee, thereby preventing unauthorized checks or credit card usage. These are the biggest losses within a small business.
Every small business owner knows the challenges and importance of closing a sale.
Despite those challenges, there are a number of steps business owners can take to improve their chances of closing a sale, said Brandon Stuerke, president of Advisors Edge Marketing. To help, Stuerke offers solutions to five common sales-lead mistakes.