May 27, 2018  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Small Business News for Entrepreneurs

 

Small Business Finance News

 

Small Business Startup Owners Can Confront Challenging Times With New Measures Of Success

Written by Ken Gaebler
Published: 2/2/2010

USA Today advises small business owners to rethink how to measure success in trying times.

Even the harsh economic conditions have not slowed small business formation. It may be good news for small business owners that Americans faith in small firms' ability to help turn around the economy hasn't waned, either.

Entrepreneur Stock Ticker

"Entrepreneurs are not easily discouraged," Kauffman CEO Carl Schramm told USA Today. "In boom times and in tough times, roughly 600,000 firms are formed every year in America - about one per minute."
The source gives small business owners some tips on how to assess the success of their small businesses in tough times.

To start, the source says to consider it an accomplishment to get a website's ecommerce functions working. Even if people aren't buying products as much as in other times, laying the groundwork for the tech-savvy to make purchases is a feat.

It might also be wise to look for good partners and consider finding useful investors a measure of success even more than revenues this year. When ventures have their shares of setbacks in these times, solid investors can help share the burden and might translate into future success.

Another important measure of success is developing brand trust. One entrepreneur told the source that the positive feedback on his logo design helped get him free advertisements; even if sales are slow, he feels they could pick up thanks to loyal fans who spread the word about his products.

By waiting out the trying times and keeping morale high, small business owners could help bring economic turnaround; according to the SBA, small business have generated 64 percent of net new jobs over the past 15 years.

Have Friends Who Might Like This Article?

Tweet via @gaeblerdotcom Share this on Twitter

Let them know on LinkedIn

Ready to Learn More? We Think You Might Like These Articles:

 


About Our News for Small Business Owners

Our small business news site is packed with breaking news for small business startups and entrepreneurs. Learn about the latest business news and financial news concerning the market and the economy.

 

 

Additional Resources for Entrepreneurs

Help for Native American Entrepreneurs

Resources for Gay Entrepreneurs

Businesses for Sale

Online Entrepreneur Tools

Economics

Lists of Small Business Incubators

Lists of Angel Investors