State of the Business Owner 2012

2012 State of The Business Owner EMyth and Synotac partnered to survey small and mid-size businesses. We measured their performance and identified two key groups of business owners: Planners and Pessimists. Pessimists passively run their companies, and Planners actively engage in every stage of growth, promoting an optimistic vision for the future that generates greater returns. A Framework For Success The Three Keys to the Growth Engine Fundamentals: Accelerators: People: Vision + Plan + Data Technology & Marketing Engaged Employees, Productive Owners 1. Growth is Not an Accident Fundamentals The 3 ingredients of a Planner's company. Businesses with a written description of their future had: Vision 25% 30% 50% Greater More Owner Faster Company Compensation Growth Size This accounted for 42% of all businesses Plan 60% faster Businesses with written plans that held individuals accountable grew Business owners who used their Business owners that tracked Data balance sheet and income business metrics at least once statement to make decisions had: a month had: 00 000 %24 60% greater revenue 60% greater revenue A 45% larger company An 80% larger company 2. Tactics of a Successful Planner Accelerators Monitoring online reputation 41% of businesses monitor what their employees and customers were saying about them online These businesses grew 2 times faster Grew Businesses that monitor 18% lead generation and faster website traffic Generated 30% more revenue Are 2 times more Took home 20% optimistic about growth in 2012 more compensation "What is your most effective marketing channel?" Referrals Website Social Media Advertising SEO Other Seminars Trade Shows Cold Calling Conferences Webinars 0% 25% 50% 75% 100% Customers: The Source Of All Growth 60% 35% They They grew grew 30% 20% of businesses more than of businesses developed faster than successfully identified their peers a marketing plan that they their peers their target market revisit every quarter 3. People Owner/Employee Relationship of businesses These businesses 30% create results-oriented 50% outgrew peers by role descriptions Amount of businesses 40% that gave no raises in 2011 Amount of businesses that gave 60% raises of ................ 2% or less in 2011 The Partner Effect The right partner can grow your business to great new levels No Partners Have Partners % Respondents 59% 37% Median income $70K $76K Average 2011 revenue $927K $2.3M 2011 growth 11% 14% 2012 growth 15% 19% No correlation was found between vacation days and business growth Half of business owners took less than 10 vacation days in 2011 x****X*** some businesses grew メメ 100% メメメ メメ despite the owner taking 30 days of vacation Primary Type of Offering $90K Building A Better $80K Business Model $70K The need for recurring $60K revenue sources $50K Single Project Project Based Recurring Project To download the full report, visit stateoftheowner.com synotac: EMyth Total Owner Compensation