I meet with a lot of small business owners. When I say small I mean as small as 1 employee to around 30 employees. Larger yes, but my focus here is on the smaller small businesses. As you can imagine, the diversity of that range, coupled with the differences in industry, can be interesting in the best of terms. A common theme among them all is their challenge with getting things done. As they grow, people challenges become part of the mix along with the more common issues of marketing/sales, production/production management, waste management/team building, and customer service/customer retention.
There are 8.1 Million Small Businesses in America today. They employ over half of all private sector workers and almost 40% of those in High Tech jobs (approximately 130 million workers). They provide between 60% and 80% of all net new jobs annually. They produce more than half of all nonfarm private gross domestic profit in the US (roughly $6 Trillion). Small Business is important.
Following the collapse of the global economy in 2008, there have been more small business start-ups than at any other time in history. Unfortunately, within 5 years of opening, according to the US Small Business administration, almost 90% of all small businesses fail. Why? Because often times they are experts at what they do but lack education and training in how to run or operate a business.