We publish regularly and promise we won't share your email address with anyone. (Privacy Policy)
SMALL BIZ INFO & RESOURCES
BLOGS TO READ DAILY*
* Don’t have time to read several dozen blogs a day? Pick two or three. Your brain will thank you for it.
ONLINE COMMUNITIES
BLOG DIRECTORIES
THE BUZZ
SPECIAL RESOURCES
Small Business Trends Radio Tuesdays, 1:00 PM Eastern U.S. time on Voice America network
Click to listen
November 1st: Torsten Jacobi, CEO of Creative Weblogging, joins host Anita Campbell. Sponsored by Six Disciplines. Show details.
Thursday, November 06, 2003
Entrepreneur Survey
Ernst & Young has issued a survey of its Entrepreneur of the Year finalists, profiling the best practices of these highly successful entrepreneurs. Some of the highlights:
- The majority (65%) compete based upon being the high quality provider. Only 15% differentiate their companies based on lowest cost.
- Over 70% of revenue comes from existing customers, with only 30% coming from new customers. Penetration of existing customers is key.
- Banks (34%) and family/friends/self (32%) are the primary sources of funding for these successful entrepreneurs. Only 8% are funded by venture capital.
- 85% have a written business plan covering 1-to-3 years.
The best practices survey is insightful reading. Download it here.
Tip of the hat to colleague Don Iannone over at Economic Development Futures for putting me on to this useful study.