Entrepreneurs Don't Trust Corporations

The Word of Mouth Marketing Association recently put out a report stating that 76% of consumers think that businesses do not tell the truth in their advertising.

They went on to discover that the number one way consumers learn about new product ideas is through word of mouth. It helps cut through the advertising clutter and the increasingly busy lives of consumers.

92% of consumers cited word of mouth as the most common way they discover new products, up from 67% in 1977.

I see it happening all the time in my Mastermind Groups. Small business owners are facing challenges with their companies from sales to financing to product sourcing. A recommendation from a fellow entrepreneur who had a good experience with a supplier almost always closes the deal.

Is your company doing enough to encourage positive word of mouth?

Check out these resources for more information on how to build your word of mouth effect.

American Entrepreneurs Are Overworked

A new poll conducted by Staples of 300 small business owners in America with less than 20 employees found that they are working long hours, take little vacation time, and cannot distinguish between working hours and time off.

Some of the survey results are:

Always On Email

• 18% read work-related emails in the bathroom and 49% read them while driving

What 40 Hour Work Week?

• 62% work well beyond a 40 hour work week
  
• 21% work over 80 hours peer week

Top 3 Reasons Why Entrepreneurs Work So Hard

1. Business growth
2. Added responsibility
3. Trying to keep up

What Personal Time?

• 21% work while eating dinner at least 4-5 times per week
• 37% could not readily remember their last vacation
• Of those who did vacation, nearly half admitted to working during some portion of it
• 68% work on days off, checking e-mail, voicemail or making work-related calls
• 66% work after hours and at night
• 51% work on holidays
• 47% work during what is supposed to be family time

Remember when selling to small business owners that they are stressed out, overworked, and wearing many hats within the company. Understanding their circumstances will go a long way to helping you close the deal.