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How Do You Capitalize on Small Business Concerns?

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Recent survey shows what worries business owners
July 1, 2010

 

 

 

 

 

Historically, the number one concern for business owners has usually been taxes. Between expiring federal tax cuts and huge deficits at the state level, one would think business owners have a greater reason than ever to be concerned about taxes. 

However when we polled business owners about their top concerns, taxes landed in at number two, far behind "decline in sales" (see below for a summary of the survey results). Nearly three-fourths of business owners surveyed said they are concerned about declining sales indicating that "It’s the economy, stupid". 

When reviewing the results below, the opportunity lies in figuring out how to use one or more of the top concerns in both marketing and sales initiatives and processes. Using sales as an example, the pain of business owners is clearly revenue, which has the ability to be far more detrimental than just about any other factor because without strong sales, a small business has nothing (you can only cut expenses so much). 

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How does your product or service help address the business owner's pain of declining sales?


 What risk(s) are you most concerned about in your business?

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Author Information:

Robert Levin is the Editor-in-Chief and Publisher of The New York Enterprise Report. Levin has extensive experience with midsize and small businesses, having previously held CEO, CFO, and COO positions with companies in several industries. He is also a contributor for The Huffington Post. Levin can be reached at rlevin@nyreport.com and (212) 307-6760.

 
 

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