Mom and Pop Business Owners Day is March 29th. Richard Eisenberg interviewed Main Street Entrepreneur author Michael Glausner, who traveled the United States meeting with small business owners to try to learn what made them successful. Eisenberg asked Glausner what set entrepreneurs over 50 apart.
They are experts. They have years of experience and contacts with the suppliers and manufacturers who can help them. They know their competitors, their strengths, and their weaknesses. “They know how business works; they’re not young or naïve. And they’re pretty sure their business idea will work before they launch it. They don’t need to take big risks because they know what the problem is and they have resources.”
They are eager to contribute in a field they’re passionate about. Money isn’t important. “They knew they had to make money, but they loved their town and wanted to create jobs there and do something better than anyone else.”
They are capitalizing on support for local businesses. Customers are willing to pay more for local goods and services rather than patronize a big box store or chain restaurant.
They have a great support network. They have mentors in their industry who can fill in the gaps in their background, like marketing or manufacturing. Glausner recommends including customers in their network, “that way, they’ll feel like this is ‘our’ company, and they’ll be loyal.”
Read the full article: What It Takes to Be a Successful 50+ Business Owner
Independent We Stand notes the economic contributions of small local businesses: “locally owned retailers return more than three times as much money per dollar of sales to their local economy than national chains. Similarly, locally owned restaurants return more than twice as much money per dollar of sales than their chain counterparts.”
Additionally, small businesses help create a unique community, and the blend of independent businesses makes for a better, more interesting neighborhood. When it comes to family businesses, “they chronicle the community’s history in a way that modern big-box superstores can’t. They carry on local traditions and give back to local causes keeping the community vibrant. Looking toward the future, start-up companies and entrepreneurs have the ideas and ambition to create important solutions to our communities’ challenges. Not to mention, they create the potential for even more local jobs and reinvestment.”
Read the full article: Celebrate National Mom and Pop Business Owners Day
In their blog, Amsterdam Printing suggests that hosting a live event is a great way for small businesses to connect with and thank local customers. Partnering with other local businesses can keep costs down and help spread the word about the event before and after. Encouraging attendees to post on social media helps keeps the momentum going.
Read the full article: Celebrate National Mom and Pop Business Owners Day
Mom and Pop Business Day is an ideal time to acknowledge the small businesses in your neighborhood, learn about the owners, what makes them tick, and connect with your community.
Photo credit: communitiesuk on Flickr
