Are you a “small business owner,” an “entrepreneur,” or a “business owner?”
You run your own business. When talking about what you do, how do you describe yourself to others? Are you a small business owner? An entrepreneur? A business owner? Or something else? Is there really a difference between these terms? According to the 2015 Small Business Pulse Survey by insurance provider and financial services group, The Hartford, business owners say there is a difference. The Hartford surveyed 751 owners, partners and principals of small companies (fewer than 100 employees) and discovered that 51 percent call themselves “small business owners” and 18 percent call themselves “entrepreneurs.” Another 26 percent use the term “business owner,” while the remaining 6 percent chose other names like “social entrepreneur.”
Which one of these resonates with you and your business?
- I am always looking for the next opportunity: 30 percent of SBOs versus 41 percent of entrepreneurs.
- I am looking to grow my company significantly: 23 percent of SBOs versus 30 percent of entrepreneurs.
- I am innovative: 20 percent of SBOs versus 45 percent of entrepreneurs.
Being a small business owner, an entrepreneur, or social entrepreneur isn’t easy, but most say they wouldn’t have it any other way. Connecting with other like-minded professionals in a private advisory board setting provides support, accountability and the ability to give and receive input from respected and successful business owners. Master facilitator, Patrick Lee, and the members of the Chesapeake “Think Tank” Private Advisory Board gather once a month in a confidential setting to problem-solve, and offer insight, support, advise, and accountability.
Small businesses continues to contribute to the global economy in huge ways. Roughly half of all U.S. jobs are provided by companies of less than 500 employees, and 54 percent of U.S. sales happen at small businesses. Who are those employees that make up roughly half of the U.S. jobs? Do you employee 5 or more of them? How can you keep them energized? Have you ever considered a retreat for you and your staff? Why plan a retreat? Isn’t getting a paycheck enough?
Common reasons business owners (or entrepreneurs, or social entrepreneurs) plan a company retreat.
- Launching a Project
- Team Building
- Boost Creativity
- Create and Implement Change
- Strategic Planning
Sometimes a company retreat isn’t the best option. Sometimes the owner needs a good listener and an outside perspective. If you want to move your business forward but find your wheels spinning in place, consider partnering with an embedded consultant.
The business owners of today need to be focused and decisive. It’s simply not an option otherwise. From daily operations to direction choices, your job is to lead your company. Your ability to make decisions is related to your confidence, so if you find yourself not knowing what choice to make, remind yourself and trust yourself that you are an expert at what you are doing. If the decision you need to make involves a part of the business within which you aren’t truly an expert, deciding to consult with someone more informed is still a well made decision.