Research by Clutch reveals that the top three strategies for small businesses are sales, marketing, and customer service.
Despite 77% of small business owners being “somewhat” to “very confident” about achieving their goals, only 5% have realised all their business goals in the past 12 months. However, 65% of the small businesses said they achieved at least half of their goals in the past 12 months.
The top three areas small businesses focused on while creating strategies were sales (46%), marketing/advertising (41%), and customer service (36%). Small businesses should set actionable and clear goals, focus on critical business areas and more as per the report.
The report further found that only 15% of small business owners documented a full strategy in 2019. 27% of the small business owners reported developing no strategy at all.
[2 minute read]