Small Business Week Celebration by ADP featuring Data from 17,800 Business Owners
Faking It Till You Make It:
To celebrate National Small Business Week, ADP's Grit & Wisdom Contest unveiled advice from an impressive 18,000 small business owners nationwide. These hard-working entrepreneurs shared their arsenal of success strategies, revealing common themes and guidance looking to help fellow business owners thrive amidst the ups and downs of business.
The Non-Negotiables of Entrepreneurship
The contest entries revealed that grit, adaptability, and sheer determination were make-or-break for small business success. Not being afraid to try new approaches and learning from costly missteps were valuable lessons for all. The desire to constantly innovate and improve kept these businesses ahead of the game.
Building a top-notch team was a recurring theme in the contest responses. Taking care of the team and fostering a positive company culture were essential for success. These entrepreneurs advised others to lead by example and instill the spirit of innovation by encouraging curiosity and outside-the-box thinking.
Love and passion for the work shone through in the contest submissions. Sentiment analysis revealed that these emotions were among the most commonly expressed, helping to boost morale and strengthen bonds among team members and customers.
The ADP Dream Team Weighs In
To bolster the insights from small business owners, ADP's own experts shared their insights on key HR and operational challenges facing small businesses today.
"A solid benefits package can help small businesses attract top talent in today's competitive market," said Tina Wang, division vice president of human resources at ADP. "There's a wealth of options available now for small businesses to offer competitive packages without breaking the bank. By focusing on high-impact areas like medical and retirement benefits, and offering educational resources, you can show your employees how much you value them."
Jason Delserro, chief talent acquisition officer at ADP, highlighted the importance of employee development. "Investing in training and growth opportunities is crucial for small businesses looking to succeed," Delserro said. "Create clear pathways for employees to advance within your company by focusing on key skills and offering practical experiences. Remember, small businesses offer unique opportunities to expose employees to multiple areas of the business, allowing them to evolve and grow alongside your company."
On the topic of compliance, Meryl Gutterman, senior counsel at ADP, cautioned the need for constant vigilance. "Regulations change all the time, so it's crucial for small businesses to stay on top of changes in minimum wage, salary thresholds, transparency laws, and paid leave requirements," she said. "Failure to keep up with those changes can create headaches down the road."
Brooke Hatcher, chief product officer at ADP, detailed the importance of smart technology integration. "As technology continues to advance, small business owners are embracing tools that simplify operations without sacrificing that essential human connection," Hatcher said. "Small businesses want intelligent, easy-to-use solutions that save time, reduce complexity, and still connect them to real experts who can offer personalized advice and support."
Visit adp.com/gritandwisdom to savor more insights and helpful resources.
Extra Servings
Small business owners recognize patience, adaptability, and persistence as crucial traits for success. According to the contest entries, learning from failures and fostering a strong team culture are vital components of building a thriving business. Love and passion for the work often sustain morale and strengthen relationships.
Tina Wang from ADP urges small businesses to adopt a creative benefits strategy to attract top talent. By focusing on key areas like medical and retirement benefits and offering educational resources, businesses can demonstrate their commitment to employees.
Jason Delserro from ADP emphasizes the importance of employee development for long-term success. He advises businesses to invest in training and offer growth opportunities, focusing on critical skills and practical experiences.
Meryl Gutterman from ADP highlights the importance of compliance monitoring to navigate regulatory changes effectively.
Lastly, Brooke Hatcher from ADP discusses the importance of smart technology integration while maintaining that essential human connection. She suggests businesses look for solutions that simplify operations, save time, reduce complexity, and provide personalized support from experts.
- Defi, in the realm of entrepreneurship, is supplemented by traits such as patience, adaptability, and persistence, which small business owners deem crucial for success.
- Embracing a creative benefits strategy, as advised by Tina Wang from ADP, can help small businesses attract top talent in today's competitive market.
- Entrepreneurs who foster a strong team culture often find that love and passion for the work sustain morale and strengthen relationships.
- To bolster small businesses amidst the ups and downs of small-business ownership, entrepreneurs shared their arsenal of success strategies, with a focus on keystone areas like employee development.
- Constant innovation and improvement kept these businesses ahead of the game, making education-and-self-development and online-learning key components for lifelong-learning.
- The desire to constantly innovate and improve can open up opportunities for entrepreneurs to transform careers, propelling small businesses to thrive.
- In today's advancing technological landscape, businesses are encouraged to integrate smart technologies that simplify operations while maintaining the essential human connection.
