3 Success Factors Create Growth in 2012

A recent study of over 800 small to mid-size business owners revealed three success
factors to create success:


Only 42% of businesses had a written description of the desired future of their business.
These businesses grew 50% faster in 2011, were more optimistic about the future, and
were 30% larger. Their owners also took home 25% more in compensation.


There was a direct correlation between the extent of revenue planning and how fast a
business grew in 2011. Businesses that had written plans with accountable individuals
grew 60% faster than businesses with no revenue plans.


Businesses that regularly measured and reviewed progress towards their objectives
consistently out-performed those that did not. Business owners earned 60% more
revenue and were 80% larger.

Adapted from State of Business Owner 2012

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