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There’s no question that America’s small business owners have had to adapt over the past few years. They’ve faced an array of challenges – from cash flow to shifting economic conditions to changes in consumer expectations. However, in my conversations with entrepreneurs, I always hear one clear note – resilience. They are determined to follow their dreams and be successful.
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Seven keys to small business success
Recently, ADP asked small businesses to share lessons they learned on their own paths to success. With responses from nearly 18,000 small businesses, entrepreneurs across the country emphasize that success isn’t only about profit.
What’s most important is building strong foundations, planning with intention and staying resilient in the face of challenges. Their ability to turn setbacks into opportunities showcases remarkable grit and determination. Equally essential is the passion and vision they bring to their work — the driving force behind every thriving small business.
There are seven recurring themes that emerged in the advice they offer to fellow entrepreneurs.
1. Have a clear vision
Success starts with clear goals and unwavering commitment. Most often, it’s not the big ideas that make a business successful, but the consistent and effective execution of the small ones that you continue to hone along the way.
Remember to regularly step back and assess your strategy and plan for the path ahead — what will your business look like 6 months, 12 months or 18 months from now? Those reflections are essential in preventing anything from clouding your vision.
2. Understand your customers and their needs
When launching a business, immerse yourself in your customers’ world – understand what they want and deliver more than they expect. The customer may not always be right, but there’s always something to learn and a chance to build a relationship.
Being small lets you adapt quickly and offer truly personalized service. Make clients feel valued, and they’ll become your best marketers.
Related: How to Understand Customer Needs
3. Keep trying the next new idea
Lessons often teach us more than successes. To grow and continue bringing value to the market, you have to take chances on new ideas and innovations, which might result in failures.
View these mistakes not as an endpoint, but as steps towards success. The determination to never give up is what sets an entrepreneur apart and ultimately drives success.
4. People first
It’s simple. If you don’t treat your employees well, they will not treat your customers well. To create a positive, sustainable business, start with your people.
A strong team will power the business and keep it rolling smoothly even when you’re not there. Nurture your people and they will nurture your dream.
5. Listen, learn, lead
To build a positive culture within your business, you must lead by example. Include and inspire others with your vision and help them connect to your passion.
Encourage curiosity – every question sparks new ideas and better ways of doing things. Learn from your employees. They often see and hear crucial customer feedback.
Related: Why The Wisest Leaders Listen First Before They Act
6. Know your numbers
Master your finances, and you pave the way for growth with clarity and confidence. For example, unit economics are the lifeblood of your company. What are your costs to produce your product or service? How much does it cost you to acquire a customer? The ability to successfully grow or scale is dependent on these metrics.
7. Take care of yourself
Loving what you do fuels long-term success and resilience. But small business owners can wear themselves out wearing all the hats they need to operate successfully. Passion is essential, but so is taking care of yourself. When your energy is high, go all in. When it’s low, just take the next small step. Recharge often — through rest, reflection, movement or connection — so your strength stays steady and your progress sustainable.
Anyone who starts a business knows the journey comes with long hours and unexpected setbacks. But entrepreneurs told us that it hasn’t diminished the love and enjoyment they get from building their own business. And it’s what sustains them during challenging times. Use all the resources you can find — be it your employees, customers, peers or advisors — to stay strong in challenging times.
Small business success doesn’t hinge on luck or one big idea — it’s built on intention. The entrepreneurs who thrive are those who stay grounded in their values, care deeply about their people and customers and never stop learning. These seven keys are more than strategies — they’re habits that fuel growth no matter what challenges come their way.
If you’re a small business owner, take a moment to reflect: Which of these areas are your strengths? Where could you grow? Start there. And if you’re just getting started, use this list as a compass to help you navigate the journey ahead.
Stay curious, stay committed and keep showing up — your success story is still unfolding.