Small businesses are at the heart of the American economy. So it’s no wonder that when asked to share their secrets to success, small-business owners are eager to help others join their ranks with some really great advice.
Some of those tips and tricks are included in a survey published in September 2014 by Bank of the West. Working with Harris Poll, the bank asked questions of more than 500 people whose businesses have been running for at least five years.
At Mountain Star Payment Processing, we pride ourselves on saving small-business owners money. It’s what we do best, and we found the following highlights particularly helpful. You can also read more about the study and its findings.
- 77% say superior service separates them from competitors, along with expertise (56%) and price (51%)
- 72% say they consider the advice of accountants to be “extremely or very important” along with the advice of financial advisers (54%), personal network of family and friends (51%) and attorneys (50%)
- 55% say running their own company doesn’t feel like a job
- 31% recommend separating business and personal finances
- 27% recommend maintaining a healthy cash reserve
- 22% recommend managing cash flow
- 17% recommend creating (and sticking to) a budget
Whatever your secrets to success, there’s no doubt it pays to listen to smart entrepreneurs who’ve walked down this road before. At Mountain Star, we look forward to helping you achieve your business dreams, no matter the size.