RESULTS: What is the greatest challenge to your business success?

The Question:

Which of these is the greatest challenge to your business’ success over the next 3-5 years?

23% - National and/or local economy
43% - National/state/local politics/policies, like taxes, regs, dysfunction
21% - Organizational deficiencies, like capital, talent, size, technology
5% - Big competitors and globalization
8%-  Internet competition

Jim’s Comments:

As you can see, when it comes to future challenges, only one-fifth of small business owners think their own internal issues might be holding them back. All the rest believe their greatest challenges lie outside their four walls

Two concerns representing two-thirds of our respondents, the economy and the government, are outside of the control of a small business, with the exception of their political involvement and their marketplace efforts. But the other three, including internal issues, are within the realm of a small business owner’s influence.

  • You can improve their own capital, systems and people;
  • You can realize the Big Boxes are more of a problem between your ears than on Main Street; and
  • You can accept the fact that the Internet isn’t going away and add that component to your traditional strategies.

I’m going to have more to say about this in an upcoming Feature Article. So stay tuned.


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