- 83% of owners would recommend being more aggressive when launching a business. 24% selected much more aggressive, and 62% selected slightly more aggressive.
- Respondents were evenly split between the importance of focusing on the big picture(52%) and focusing on the details(48%), reflecting the importance of both skills.
- The words that best describes what being a business owner means personally are accomplishment(27%),opportunity(26%),independence(19%) and freedom(13%).
- 58% of respondents identified business ownership as solitary compared to 42% as sociable.
- Would they do it all again? Absolutely. 86% selected very likely or somewhat likely compared to 14% who selected very unlikely or somewhat unlikely.
Motivations for launching your business?
- 43% wanted to be my own boss. 18% launched the business because they had a great idea/plan for aproduct or service.
- Other motivations include make more money(12%),take over the family business(10%),not interested in a corporate position(10%) and unemployed/needed a career change(8%).
- The two top motivations for taking over the family business were to make the business more profitable(43%) and to give myself a better chance to succeed professionally(32%).
In which area would you have spent more time?
- Strategic Planning (27%)
- Sales (20%)
- Marketing (18%)
- Hiring/Training Employees (11%)
- Operations (10%)
- Technology/Innovation (8%)
- Finance & Accounting (6%)
In which area would you have spent more money?
- Hiring/Training Employees (20%)
- Marketing (18%)
- Sales (17%)
- Strategic Planning (15%)
- Operations (14%)
- Technology/Innovation (9%)
Overall, what area would you have benefited from most when starting your business?
- Better coach/mentor (24%)
- Better business model (19%)
- Better employees (18%)
- Better personal education/training (15%)
- Better research/insights (12%)
- Better business partners (10%)
What do you wish you had done earlier in your business?
- Create a system/plan to generate more leads (35%)
- Form a network of experts for advice (20%)
- Maintain a detailed customer database (10%)
- Evaluate consumer demand for our products/services (10%)
- Invest in measurable advertising (9%)
- Receive more skill-based training (8%)
- Receive more education (6%)
If you could have done one thing more often with your business, what would it be?
- Delegate to others (38%)
- Find time to relax (18%)
- Take risks (14%)
- Ask for help (12%)
- Learn from my mistakes (11%)
- Listen to what people were telling me (8%)