“80% of our business owner respondents discovered that client development is significantly more important than product or service development,” Zickerman says. Meanwhile, 20% would have invested more in hiring and training staff.
The advice from seasoned business owners for newly minted entrepreneurs is “find your customers, surround yourself with smart people and make use of your team”, Zickerman says.
Asked what they should have done more often, the top response, from 38% of business owners, was “delegate to others”.
Meanwhile, getting “better coaches and mentors” was chosen as a critical element for 24% of entrepreneurs.