Strategies for Enhancing Small Business Owners' Success Rates (original) (raw)

Business Strategies for Small Business Survival

2017

Business Strategies for Small Business Survival by Betty W. Lum MBA, Kaplan University, 2014 BS, Kaplan University, 2012 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University November 2017 Abstract Small business owners play a leading role in the United States economy by creating jobs and driving innovation. However, half of all new small business owners close their doors before their 5th anniversary. Following the entrepreneurship theory, the purpose of this multiple case study was to explore what strategies 5 small business owners in the food and beverage industry in the San Francisco Bay area used to survive beyond 5 years of operation. Data sources included semistructured interviews and company documents. Data analysis included descriptive and process coding of the data and use of NVivo to identify themes. Based on thematic analysis of the data, the emergent themes included: human capital, busine...

STRATEGIES SMALL BUSINESS OWNERS USE TO SUSTAIN BUSINESSES BEYOND 5 YEARS.doc

Owners of various small businesses foster the instigation and growth of their local societies. Nonetheless, several small businesses fail to thrive beyond the first five years. Cognizant of the theory that revolves around systems, the focus of this particular case study is to investigate the approaches that small businesses implement to develop and withstand long-term businesses. Through a multiple case study technique, administration of semi-structured interviews among retail business owners is necessary to find out more about the research topic. The correspondents will provide in-depth information regarding the strategies used to maintain their businesses. The semi-structured interviews will bring forth insights into the respondents’ conversations while the field notes and member interview checking will help the researcher to foster triangulation and facilitation of the key themes. In essence, there will be three main themes from the study including provision of improved customer services, assessing capital, and choosing good locales. The strategies that will be provided by the respondents often give guidance for the small business owners who have the quest to do business for long. Novel and existing businesses will benefit from this research through expanding knowledge from the explicated strategies; hence, bolstering job creation and growth of the local economies via small businesses.

A Case Study of the Marketing Tools Coffee Shop Owners Use to Sustain Businesses

Open Journal of Business and Management

The purpose of this multiple case study was to explore what marketing strategies some coffee shop owners use to sustain business operations during the first 5 years of operation. The targeted population consisted of 5 coffee shop owners in Arkansas who successfully implemented marketing strategies to sustain business operations during the first 5 years of operation. Goldsmith's 8Ps of marketing mix was the conceptual framework used in the study. Data were collected from semistructured interviews and a review of publicly available data and company websites. Data analysis occurred using the principles of the content analysis method, which included identifying codes and themes. Findings indicated owners of successful coffee shops were actively engaged in the day-today business operations and in the community; provided premium products; used social media for marketing, promotion, and branding; used competitive pricing; were precise about the location; provided exceptional customer service and personalization, and had points of marketing differentiation to promote their brand. The implications of this study for positive social change include the potential to support the welfare of the citizens of Arkansas, and owners of coffee shops across the United States that could provide independent coffee shop owners with marketing strategies necessary to sustain business operations, contribute to new job creation and regional economic sustainability.

STRATEGIES FOR GROWING AND SUSTAINING SUCCESSFUL SMALL BUSINESSES

Many small business enterprises do not survive for more than 5 years after formation. The objective of this multiple case study was to explore the strategies used by small business manufacturing leaders in Lagos, Nigeria to sustain their businesses, using general systems theory as the conceptual framework. The sample comprised 3 small business leaders who have sustained their business enterprises for more than 5 years after forming in Lagos, Nigeria. The data were collected through semistructured, in-person interviews and the review of business feasibility and planning documents, handbills, and contract documents. The results from this study suggested preparation including research and strategic plans before the launch of a business idea, minimizing debt and overhead expenses, proper record keeping, skills, and expertise are essential for small business success. Small business leaders should do feasibility studies and business plans before committing resources for business ideas, in addition to keeping a record of activities of the business for strategic and tactical decision-making to sustain a successful small business enterprise. Successful business enterprises provide continued employment for the business leaders and their employees, and enhanced quality of life for the community.

Skills That Small Business Owners Use to Succeed Beyond 5 Years

2018

Skills That Small Business Owners Use to Succeed Beyond 5 Years by Shelly Gerig MS, Indiana Wesleyan University, 2008 BS, Indiana Wesleyan University, 2006 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University February 2018 Abstract Small businesses in the United States have a high failure rate, with 50% failing within 5 years. Small businesses also account for 99.7% of U.S. firms and provide 48.0% of employees in the private sector, or 57 million out of 118 million employees. From 1992 to 2013, small firms were responsible for 63% of new jobs generated. The purpose of this qualitative multiple case study was to explore the skills small business owners (SBOs) used to achieve sustainability beyond 5 years in a purposefully selected area of Central Florida. The conceptual framework of human capital theory served to focus this case study on the exploration of skills SBOs used to succeed. Purposeful samp...

Social Media Marketing Strategies Used by Owners of Small Retail Businesses

2019

Social Media Marketing Strategies Used by Owners of Small Retail Businesses by Curtis Dean MBA, University of Phoenix, 2005 BS, Livingstone College, 2003 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2019 Abstract Implementing an effective social media marketing strategy campaign to engage customers and increase sales is a challenge for owners of small retail business owners The purpose of this multiple case study was to explore the social media marketing strategies owners of small retail businesses used to increase sales. The conceptual framework for this study was the social media marketing strategy theory. Data were collected from 5 small retail business owners in North Carolina through semistructured, face-to-face interviews and a review of company documents, websites, and social media sites. Data analysis through Yin’s 5-step process of compiling, disassembling, reassembling, interp...

Small business performance: business, strategy and owner-manager characteristics

Journal of Small Business and Enterprise Development, 2013

If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information.

Microenterprise Owners: Chanllenges with Initialization, Growth, and Success

The vitality of any community rests on its entrepreneurs; therefore, understanding the barriers that impede microenterprise initialization and growth is essential. This phenomenological study explored the coping strategies of African American business owners related to business growth and operation in a southeast Virginian city. Two theories framed this study: the resourcebased theory and the disadvantage theory of entrepreneurship. Twenty microenterprise owners who had active businesses participated in this study. These microenterprise owners responded to semistructured questions and shared their experiences in face-to-face interviews. Data codification and thematic reduction occurred within qualitative data analysis software. Emergent themes included (a) the effects of barriers on microentrepreneurs, (b) the influences of regulatory agencies on microenterprises, (c) entrepreneurial resources required for success, and (d) agency adaptation to entrepreneurial needs. Two invariant themes emerged from the data; these themes were the importance of location and the availability of a quality workforce.