May 17, 2012

How Small Businesses Define Success

National Small Business Week is May 20 – May 26. Office Depot conducted a survey among entrepreneurs and small businesses to find out how they measured success.

According to a press release, success was defined by “being profitable (73 percent); having a work-life balance (58 percent); and working on something in which they believe (56 percent). Only eight percent of SMBs think that being rich equals being successful.”

The study also showed that the most admired entrepreneurs by small business owners were Bill Gates (32 percent), Steve Jobs (28 percent), and Oprah Winfrey (22 percent).


As for the amount of profitable businesses, about half of the survey participants thought they were “successful,” while 51 percent reported to be “extremely or very successful.”

How do you define success? Are there any other entrepreneurs that you admire?

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