Wednesday 25 November 2015

What makes a business successful

The goal of this trip is to write a new book entitled, “Living the Dream on Main Street America” and to create case studies and teaching materials to share what they learn.
This isn’t the first time they’ve interviewed small business owners to learn about what makes them tick and what makes them successful, either. Glauser has been in the trenches talking to small business owners for roughly 20 years and regularly shares the insight he gains with his students at Utah State University.

Glauser referenced a 2013 study done by researchers at Oxford University that looked at 702 occupations and determined that 47 percent were at “high risk” for being replaced by computers and machines.
“My colleagues and I have noticed that graduating students looking for jobs have fewer interviews than they have had in the past,” said Glauser. “In every industry, employees are being replaced by technology. The U.S. economy is becoming more efficient, enabling companies to generate more revenue with fewer employees.”
Despite what he sees as a decline in new jobs, he sees great opportunity in entrepreneurism, and encourages his students to think about starting a small business. We read a lot about new high-tech businesses all the time, but Glauser is talking about the kinds of businesses that you and I can relate to along Main Street. Businesses like merchants, small manufacturers, and restaurants.

In an effort to determine what makes these small business owners successful, they’re interviewing entrepreneurs who have been in business for five or more years. They wanted to know what helped them beat the odds. He’s been doing this for long enough I doubt he was expecting any surprises, but he’s had a few. Traveling across the heartland of America has put him on the doorstep of a number of small business owners who share similar motivations for owning their own small businesses and what they think makes their businesses successful:

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