Phimation Strategy Group has released its annual Small Business Trends Report: “The Top Trends Impacting Second Stage Small Businesses.”
Among the 17 trends examined in the report, those related to sales/marketing, succession planning, leadership and training will have the greatest impact on Stage 2 small business owners looking to successfully emerge from the recent recession, according to Phimation CEO and founder Dave Haviland, author of the report.
“In reality, some subset of all 17 trends are impacting Stage 2 business leaders right now,” says Haviland. “The trick is identifying the real opportunities within the organization and setting on a course to address those specifically. What we’ve found in doing the research for this report is that often a company’s actions push against—rather than go with—the flow of key trends, and it hampers their ability to drive growth.”
“For example,” he adds, “a sales trend we call ‘Procrasti-Nation’ indicates that customers are waiting until the last minute to buy. Rather than having specific strategies to embrace this, many companies have processes, systems and planning cycles that make it a constant challenge. Something as simple as a discount for early payment can make all the difference.”
A summary of all 17 trends is available at www.slideshare.net/phimation. The complete report provides additional details and recommendations and covers topics ranging from market buyer habits to talent recruitment and retention and from profitability to changing “skillforces.” It is available for purchase at www.s2om.com/Order.html.
Stage 2 business leaders will be able to use the Small Business Trends Report to better identify the real issues that could impact their company’s growth and to address their pain points head-on.
Stage 2 is often defined as companies with $5 to $50 million in gross revenue and 10 to 100 employees. However, Haviland views Stage 2 not only as one measured by finances and head-count, but also as a state of mind. According to Haviland, Stage 2 is marked by the realization among a company’s leadership team that something significant within the business needs to change in order for growth to ensue or continue.
“It is characterized by recognizing that something that was once relatively simple – a fledgling business – is becoming complex as it evolves,” Haviland says. “In most cases, they’re trying to grow; they’ve stagnated; and/or they’re transitioning leadership.”
