In a brand new, substantive survey, four types of small business owners were uncovered in the 2014 Infusionsoft Small Business Market Survey.
The survey research results show that the four types of small business owners are freedom seekers, passionate creators, struggling survivors or legacy builders.
It’s important to look at the WHY you started your business to better understand your future direction.
Knowing the TYPE of small business owner you are will better determine how you should go about ensuring your business is a SUCCESS!
If you started you business for FREEDOM. It’s important that you build in systems to ensure you maintain and in fact INCREASE that freedom.
If you started for the love and passion of creating what you sell (vintage cars, cupcakes, etc) you might want to hire a ceo who can enable you to keep creating your PASSION while they focus on profitable growth.
If you started your business by “accident” and maybe just to make ends meet, you might want to see what you can do to take your business to the next level (out of survival mode). Or explore joining a company that you can work for (as an employee) and earn a steady paycheck.
If you’re a legacy builder and want to hand your business to your children you need to carefully build a business that is built to last, has systems in place and ensure your children join you in the journey so they WANT to have your business when you’re ready to turn it over.
The survey shows that freedom seekers feel that the key benefits of business ownership are control and freedom.
Passionate creators, the survey shows, are proud of the job-creation engine that small businesses represent, and value having the ability to serve a customer well.
The third category of small business are the struggling survivors they value many aspects of small business ownership, but worry about the risks and downsides involved.
Finally, there are the legacy builders , they wanted to create a business to help secure their retirement or to provide stability for their families. This segment of small business owners is striving to build something they can hand down to their children.