This year’s DREAM BIG 2016 winner and Western regional finalist was SearchPros Staffing in Citrus Heights, California, which opened 11 years ago. In a video that appears on the U.S. Chamber of Commerce website, the company’s founder and other key personnel discuss how SearchPros has grown over the years and what has led to their success, including acknowledging employees for their dedication and hard work, focusing on continual growth and contributing to community causes.
Attended by more than 800 small-business owners and chamber executives, the Small Business Summit also featured presentations from a variety of experts in business, including Thomas Donohue, president and CEO of the U.S. Chamber of Commerce; Kat Cole, group president of Focus Brands; and Allan Golston, president of U.S. Programs for the Bill and Melinda Gates Foundation.
4 Keys to DREAM BIG Small Business Success
DREAM BIG entrants were judged on four main criteria considered necessary to running a successful small business. These requirements enable companies to grow sustainably and “ultimately have a competitive edge over other companies,” according to Pamela Herrmann and Patty Dominguez, co-founders of CREATE Buzz, an online training experience that assists business owners and their employees with developing customer engagement skills.
—Pamela Herrmann and Patty Dominguez, co-founders, CREATE Buzz
Here are the four elements required of the DREAM BIG-winning company and why these attributes are considered critical to the success of any business.
Strategic Planning
Having a clear business plan that outlines strategies and goals is one of those elements deemed a necessity by DREAM BIG. With planning, a company has a clear map that leads to success, believe Herrmann and Dominguez. “It’s imperative that small-business owners understand and have a good handle on strategic planning, because that provides the tracks to run on, which with focused activity ensures that the company meets business objectives.”
Creating a business plan is one of the integral steps a business can take to be successful, agrees Brett King, senior vice president of investments for Elite Financial Associates. “This plan includes how the business will be funded, which products or services will be offered and why consumers will want or need them, clearly defined responsibilities of the owner(s) and any employees and how future growth plans will be implemented.”
Focus on Employee Development
Staff training and a focus on motivating employees may be helpful in the continued success of any company. “Employee development is something that you must pay very special attention to in order to create an environment for employees to grow and thrive, which is critical to your business’s growth and success,” say Herrmann and Dominguez. “Investing in your people allows for your organization to become a go-to company for prospective employees. The additional benefit is the fact that as employee morale goes up, productivity also increases.”
The success and growth of any business largely depends on it’s employees, adds King. “Business owners can only do so much by themselves, so it’s critical that they hire the right personnel, train and develop their skills properly and provide incentives for employees to grow alongside the business. Happy, incentivized employees are far more productive and much more likely to remain with their employer longer. Having to constantly hire and train replacement workers is costly and unproductive for any small business.”
Customer Service
Customer-focused activities are essential to extending a lifetime value to your customers, believe Herrmann and Dominguez. “Developing a focus on customer experience insures not only that the experience is consistent, but it also leads to a heightened experience for the customer. The long-lasting effects of good customer experience create referrals and sustainable growth.”
If there’s one area that can set a business apart from it’s competitors, providing a great customer experience is it, notes King. “The best and least expensive type of advertising is clearly referrals from satisfied customers. Repeat customers are very likely to tell their friends, neighbors and co-workers why they should be supporting that business as well. Providing over-the-top customer service will free up business capital for growth rather than having to use those dollars for marketing or hiring other employee’s in the hopes they provide better service than current ones.”
Community Involvement
Giving back to the community is another positive for any small business that can show appreciation and support to the very people that have made the business a success.
“Community involvement shows that a company cares and is there for the long-haul, intending to remain a positive influence in the community,” say Herrmann and Dominguez. “There’s a level of emotional payback with community service that you can’t necessarily measure for a small business, but the positive consequences help lead to long-term success and improved companywide morale.”
If you’re interested in being considered for next year’s DREAM BIG Small Business of the Year Award, you can apply directly or be nominated. Consult with the U.S. Chamber of Commerce for more details. Nominations are due in January.
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