Study Shows Small Business Entrepreneurs Don't Aspire To Be Like Uber
There's lots of focus on the typical entrepreneur being one who just wants to have a 10x valuation and work with Venture Capitalists all day.
While this is GOOD, a study by Xero finds that entrepreneurs often want much more. While Uber and Airbnb have been hailed by some in the media as role models for entrepreneurs, it's actually businesses who believe in something and have a purpose who are admired by most entrepreneurs.
A survey of 500 small businesses by Xero showed that only 1.6 percent of respondents aspire to be like Uber.
(Graphic: Kristen V. Brown Source: Zogby Analytics)
As hacking scandals and ethics controversies rock big businesses, small business owners are placing the highest importance on honesty and respect as guiding business values. Only 1.6 percent named Uber as their role model -- the least inspirational of all companies named, says the Xero survey.
The combination of strong employment growth in the U.S. overall, and the optimism and confidence being felt by the small business community, points to 2015 being a year of continued economic recovery. However, Xero’s research points to a gap between entrepreneurs’ aspirations and their execution plans, which could impact the macro economy.
“We uncovered conflicting data regarding small business owners’ lack of intention to hire and their desire for growth,” said Jamie Sutherland, Xero U.S. President. “We believe this points to an absence of business performance insights, which decreases confidence when it comes to hiring and making investment decisions. This, coupled with the fact that over 53 percent of respondents say they don’t work with an accountant at all, is creating a double-whammy for entrepreneurs.”
It's very important to be VERY clear about why you're starting your business and what's your core
While all business owners are in business to make a living, to make a profit there's a big difference in how they get there. Some focus on their valuation and their money, first and foremost - above all else. However, other business owners, see that being good, having values (like Small Giants Community) is more important. It's these businesses who set out to be awesome and build businesses with core values, first and foremost, that reap greater fulfillment. Is money important, absolutely. But achieving your goals, while maintaining your core values is priceless.