When I saw the January issue of Entrepreneur magazine I was excited. Copy cover had a teaser about it in the sense that employers were surveyed and their responses were inside. He was sure that finally someone was paying attention to entrepreneurs who strive for a successful business. It was time to hear from us the little guys!
I can not say my surprise when I started reading the article. His idea of an "entrepreneur" and mine were as different as night and day. I always sorted them an entrepreneur as someone like the "mom and pop" store coffee shop, the product market family-run in the city, or 18 to 24 who had come with a great "gizmo" and he collected in a corporation as its new genius. Let me give you a quote from the article that will clue you in your idea of an "entrepreneur".
To explain the method used for the survey say, "Entrepreneur Magazine and PricewaterhouseCoopers' Business Challenges Survey" is an annual telephone survey of more than 300 CEOs of privately owned companies based in the US known for their sustained and rapid growth. They average $ 31.5 million in annual revenue with an average of 185 employees and have an annual growth rate in the course of more than 23 percent ...... "
That definitely was not my image of a businessman. I do not know too many entrepreneurs averaging $ 31.5 million per year, or employ 185 people. To me, that is a very successful company on your way to being a corporation. We all must be these entrepreneurs!
In any case, I kept reading and I must say that the information was worth reading, and the business of doing business can be applied to those of us who are not quite making $ 31.5 million a year yet. This is what the survey found.
What is considered his greatest challenges for 2006? * 73% - Retaining key employees * 38% - Development of new products / services * 36% - Expansion of domestic markets * 35% - Increased productivity * 28% - update technology * 23% - Creating business alliances * 21% - better cash flow management * 14% - Expansion outside the US * 13% - Improved risk management * 11% - find new financing * 11% - The purchase of another company or the launch of a spin-off * 7% - Preparation of the company for sale * 2% - Going public
Now, when you stop to think about it, that's more or less what most entrepreneurs think of each year. Maybe not to the extent of expansion to foreign markets or launching a spin-off, but to keep your business perking along the path of improvement - the rest are considered.
The next part of the survey was interesting because entrepreneurs were given a list of several factors "wild card" that could affect the business in 2006. When asked which three would be more harmful for your business, here it is what they said: * 47% - unstable US economy * 43% - The rising costs of health care * 41% - The shortage of skilled workers * 40% - weak market demand * 24% - Increased costs oil / energy * 24% - The increase in interest rates * 22% - New government regulations * 18% - weaker capital spending * 14% - The weakening of the world economy * 12% - Increased competition Global * 11% - Reduced access to capital * 10% - Sudden drop in US housing market * 10% - Tax increases * 9% - inflation
So maybe my employers and respondents are not really very different in thought. The perspective of most entrepreneurs is probably optimistic, or will be unless more unforeseen disasters strike.
Even after the enormous devastation of 11.09, within two quarters we were back to the same level of optimism, as we had before. People get used to dealing with difficult circumstances and factor them, but they are not influenced by them. When you really think about it; Is not that what most entrepreneurs are like?
If they are not, then there are entrepreneurs by my thinking.