Every small business is different, but the leadership styles their operators prefer may be more similar than many often expect. Recent surveys have found that there are a few distinct leadership styles that businesses are likely to take on, with one specific trend that is a constant in their developments.
Different types of operators
According to a recent survey from small business marketing software producer InfusionSoft, there are four separate types of small business owners that can be found in modern markets. The survey shows how each different type of leader can manage challenges while simultaneously working to bring in a new audience and expand their sales results.
"Freedom seekers" are the first type of owner, and they've opened their locations in an attempt to control their fate and have direct autonomy over their operations. Many of them work from home, and often use software like marketing automation, bookkeeping, ecommerce and customer relationship management to best manage their time. The next type are "passionate creators," who entered the small business market so they could chase an idea. Nearly half of these operators always had a dream of operating their own business, and their passion goes a long way, as they're the most likely of all to have successful operations over time. As many as 70 percent use analytics, specifically, to help determine the next step for their operations.
Meanwhile, what the source calls "legacy builders" find small business ownership to be a smart economic choice, with better ethics and marketability. They're not very tech savvy, but they are stable and steadfast, and they're in it for the long haul. Then there are "survivors," who are representative of the challenges of small business, and how the effects of those can harm their long-term viability. More than half operate solo, and many are likely to close their businesses.
Knowing which type of operator they are can be a big step for any business owner, as they can better assess any holes in their product development strategies and go from there to improve their operations.
One common factor binds them
A second release, this one coming from SageWorks, found a common point that unites these four types. More than three-quarters of small business owners have never applied for a loan on their businesses. This means that many are discounting a resource that can be meaningful and helpful over time.
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