Advisors and Vendors: How to Convince Small Businesses They Need You
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- December 14th, 2006
If you sell technology or staffing services to small businesses — or if you are an accountant or lawyer serving the small business market – then I expect you will find the following research of interest.
Six Disciplines Corporation surveyed leaders of small businesses with between 10 and 100 employees to find out what makes the most successful small businesses. They wanted to know, “What exactly is it that sets apart the most successful organizations?”
They discovered that the best performing small businesses have five attributes in common:
- a strong leadership team
- the ability to attract and retain quality people
- a disciplined approach to their business
- the ability to strategically use technology
- the wise use of trusted outside providers
The highest performing (i.e, most successful) small businesses rated more than 100% better on these five attributes than lower performing organizations. This chart summarizes the research results:
Download the white paper outlining the “Five Secrets of High Performing Organizations (PDF).”
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I can believe it. I am constantly told by my clients that hiring us made the difference between them making money and losing money. When the average profit margin the the US is only 3%, finding the right vendors can make the difference between profit and loss. In our case, since we deliver B2B customers, when we double or triple the effectiveness of their marketing we can make a very dramatic difference in the bottom line.
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