Xero have surveyed over 2,000 business owners to find what separates a successful entrepreneur from a failed one. Three key findings were identified:
- 58% say family time is crucial to effectiveness as a business owner. You don’t need to work around the clock and it is important to prioritize your family in the weekends
- Nearly half of successful businesses invest in marketing campaigns. Simply, you have to spend money to make money
- 58% of surviving entrepreneurs use software to manage finances vs 14% of failures. Moreover, 65% of failed business owners blame poor financial management for their downfall
The full report can be read here