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Top Advice from Small Business Owners: 7 Insights for Success

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By Rob Ciccone, Vice President, Small Business Services Marketing, ADP

Small business owners share their best advice for navigating past challenges and learning how to grow, adapt, and thrive in today's competitive marketplace.

What is the blueprint for small business success? ADP® went right to the source when it invited business owners to share genuine advice with their peers. Several key themes emerged after a thorough analysis of nearly 18,000 responses.

7 recurring themes driving small businesses

The small business owners who responded came from different backgrounds, but their advice fell into a few central themes.

Here are their top keys to finding success:

1. Heart of the hustle

Never give up. View failures as steps towards success and be open to new ideas. Consistency and determination are key. Resilience sets the tone for a business and inspires others.

A great example came from Tamara F. in California, who said, "When obstacles come your way, work for a solution like there's no "Plan B." In other words, giving up or throwing in the towel is not an option. You must find a solution to overcome so you can move forward, progress, and succeed."

2. Your team, your dream

The strength of a good team drives small business success. Invest in hiring the right people who share the team's vision and values to achieve common goals. Nurture them, and they will nurture your dream.

Katie V. from Texas shared her point of view regarding this theme: "Hire good people, regardless of experience. Why? Teaching skills is easier than teaching values. What a small business lacks in quantity can be made up for in quality."

3. Listen, learn and lead

Success can often derive from inspirational leadership, starting with listening and learning. Business owners should lead with empathy, inspire with vision, and look to elevate those around them.

"You may not be your business, but your business is an extension of you. Your every move reflects how the community and your employees see you. You must walk the walk if you talk the talk," Edward G. from California shared.

4. Your customers, your champions

Building relationships with your customers can create the greatest champions for your business. Prioritize customer service and build strong relationships with clients. Treat customers well and ensure their satisfaction to achieve business growth.

Joseph B. from Tennessee emphasizes this theme by explaining, "Word-of-mouth is king. My best advice is always to treat people how you would want your grandmother treated. No, the customer's not always right, but their experience can make or break you. Even if they're wrong, make them feel right."

5. Know your numbers

Understand your financial situation to make better, more confident decisions. When you master your finances, you pave the way for growth with clarity and confidence. Efficient operations and sound financial management are keys to small business success.

Omar S. from Hawaii reinforces this by explaining, "unit economics are the lifeblood of your company. What are the costs of producing your product or service? How much does it cost you to acquire a customer? What is the lifetime value of your customer? Your ability to grow or scale depends entirely on these metrics."

6. Wellness to wealth

Reflections on how true wealth starts from within. Embrace challenges and view obstacles as opportunities for personal and business growth. Nurture your well-being and success will flow from a foundation of inner strength.

Devan L. from South Carolina shared his thoughts on this theme: "Having a small business is probably the hardest yet most rewarding work you will ever do. Give yourself credit for all the obstacles you have overcome—especially on the bad days when nothing is going right! Measure your success based on the client and employee relationships you form.

7. Ready for tomorrow

Embrace the unknown with wide eyes and open arms. To stay ahead, you must embrace change, be adaptable, and continuously innovate. When you prepare for the future, you're always ready for what tomorrow brings.

Stephen W. from Virginia shared his advice on looking forward. "Every six months, take a step back to assess your strategy and think about the future. Is there anything new you can do? Key investments you need to make? New initiatives to drive business? It is vital to look 12 to 18 months down the road to see where you may be headed."

Take a closer look.

Almost no one succeeds in business without employees, customers, and peers who share the same passion, vision, and grit as yourself. That's why ADP created "Grit & Wisdom," a collection of small business advice from nearly 18,000 entrepreneurs nationwide.

Whether you are starting out or looking to take your business to the next level, you can learn more about strategies and insights from business owners like you. To view the complementary Grit & Wisdom e-book or request a free printed edition, please visit www.adp.com/gritandwisdom.