Successful Entrepreneurs

April 22 2023 - Results from a survey of 675 entrepreneurs released by business coach Ronald Osborne provide insights into the secrets of business success. The study focuses on the mindset of successful entrepreneurs, highlighting necessary ingredients for business growth and longevity.

The survey showed that a surprising 85% of respondents believed that an initial investment of just 10,000 dollars is enough to kickstart a business. This contrasts with a common assumption that business startups need substantial finances and offers hope to aspiring entrepreneurs with limited capital resources.

Persistence pays

According to the survey 68% of entrepreneurs advised being committed to a struggling business for at least 24 months. Perseverance and resilience are invaluable in the face of adversity, emphasising the importance of allowing time for new businesses to find their footing and overcome initial hurdles.

Marketing

Virtually all (94%) of survey respondents agreed that every business should invest in marketing efforts. Marketing has a crucial role plays in raising brand awareness, reaching target audiences, and driving sales.

Ronald Osborne commented:

"Our survey has uncovered valuable insights into the mindset and strategies of successful entrepreneurs. The results highlight the importance of persistence, strategic investment, and the critical role of marketing in achieving business success. We hope these findings will serve as a source of inspiration and guidance for aspiring entrepreneurs."

The bigger picture

Ronald Osborne has also emphasised the importance of small business owners moving their focus to working 'on' their businesses, rather than being immersed solely 'in' them. He feels that 'an alarming number of small business owners struggling to stay afloat and grow their companies, due to a lack of proper strategic planning and optimisation.'

He says:

"When small business owners become too involved in the day-to-day operations, they often neglect the bigger picture, which hampers their ability to grow and prosper. My mission is to empower these entrepreneurs with the knowledge and tools they need to create sustainable growth and maximise their performance today and in the years to come."

Ronald Osborne will be hosting a series of workshops and webinars to further discuss the survey's findings and provide practical advice for business owners on how to implement these strategies effectively.

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