Anchor Advisors’ EnMast recently conducted a study of 130 small businesses mostly under $10 million in revenue and mostly still led by their founders. Their study revealed that two classes of SMB owners have surfaced in our recent economics – those driven towards growth, the “movers” and those struggling that EnMast refers to as “head-shakers”. Below is EnMast’s profile of the businesses included in their study:
Key traits of the “movers” in EnMast’s Study:
- Spent 58% more time Meeting with Direct Reports, 47% more time Reviewing Company Performance and 18% more Planning for the Future.
- Spent 14% more of their time talking to customers.
- 82% spent less time Sorting Employee Issues than “head shakers”
- Overall 82% spent 25% or less of their time in Meetings vs 72% for the “shakers”.
- They spent considerably more time reading business and personal books, earned more and took more vacation time.
From what I see in my SMB world none of that came as a surprise. My more successful clients focus upon their customers, business development, holding direct reports accountable and planning for the future. They’ve chosen not to participate in the downturn and spend more time “in action”. Conversely I’m working with some “shakers” focusing on key metrics, planning and action — not “coddling complainers” without solutions. We’re going to get there!