Susan Gunelius of Women On Business Sounds Off on the Small Business Success Index

The Small Business Success Index provides small business owners and entrepreneurs with best practices to improve their businesses. This is part of a series of interviews with small business owners, entrepreneurs and small business experts providing their insights about the index results.

Susan Gunelius is the owner of Women On Business and president & CEO of KeySplash Creative, Inc., a full service marketing communications provider. Women On Business provides women with news and information on how to be successful in the business world. Through Women On Business, Susan hopes “to see that power grow and expand and to broaden the online discussion between today’s male and female business thought leaders.”

Susan began her journey as a sole proprietor and freelancer in late 2007 and now provides branding, marketing, social media, copywriting, and other services to small and large businesses.  She has over a decade’s worth of experience in directing marketing programs. Additionally, she is the author of Google Blogger for Dummies and, Building Brand Value the Playboy Way, which will be published in Fall 2009.

IF YOU LIKE THE INTERVIEW YOU ARE ABOUT TO READ, YOU WILL LOVE THIS:

At the end of this month, Grow Smart Business – a new Network Solutions blog, resource hub, and home to the Small Business Success Index – hosts its first webinar hosted by Network Solutions CEO, Roy Dunbar

Learn from the risks taken, lessons learned, and success attained from a great webinar panel. Join entrepreneurs and business leaders for this free, live webcast. And get a chance to learn from their experience in securing capital and deciding their approach to marketing.

When: Thursday, April 30 from 2-3pm ET,

To register: Visit http://growsmartbusiness.eventbrite.com.

Network Solutions: What did the study reveal to you about the success of small businesses in 2008?
Susan: I was pleasantly surprised to learn that small businesses are doing better than one might think based on what we hear from the media.

Network Solutions: The study captured six dimensions for measuring success: Capital Access, Marketing and Innovation, Workforce, Customer Service, Computer Technology and Compliance. What do you think are the top priorities for making small businesses more competitive?
Susan: Certainly, Capital Access is critical.  You know the old saying, “it takes money to make money.”  There’s a reason why those old sayings stick around for so long.  Also, Customer Service remains a top priority.  It generates positive word-of-mouth marketing, which is essential to small businesses and helps to position them against the competition, particularly larger companies with deeper pockets.  Together, Marketing and Computer/Technology are also important.  We’re in the age of social media, and leveraging technology and marketing via the tools of the social web is a significant differentiator.

Network Solutions: According to the results, Capital Access and Marketing and Innovation were the two biggest inhibitors for success. Do you agree? Why or why not?
Susan: Again, access to capital can open all kinds of possibilities to grow a business, but I’m not surprised it’s one of the biggest inhibitors, particularly in the current economy.  In terms of Marketing and Innovation, I’m also not surprised but for a different reason.  Many small business owners believe marketing requires a sizable investment.  Today, a significant number of those small businesses could grow considerably with an increased focus on online marketing, which requires a much lower monetary investment than traditional marketing.  In fact, the barriers to entry for online marketing (including social media marketing) are practically nonexistent, and that’s exactly why so many consumers are already there.  Small businesses just need to connect with them where they already spend time.

Network Solutions: How does the current economic state affect Capital Access and Marketing and Innovation?
Susan: Companies are tightening their belts.  Small businesses have more trouble finding investors who might be looking for low risk, “sure thing” investments.  For Marketing and Innovation, there is a shift to lower cost online and social media marketing and to building brand awareness and customer relationships through those efforts.

Network Solutions: The results show that 1/3 of small businesses feel they are successful in building the profitability of the owner. What is your advice for entrepreneurs and small business owners in terms of increasing the value of their company?
Susan: There is no magic piece of advice or everyone would be following it.  The biggest opportunity now is to leverage the tools of the social web, continue to invest in marketing initiatives, and deliver great products and services, so you’re positioned for success and ahead of the competition when the economy turns around.

Network Solutions: According to the study, “small businesses rely on a range of Internet business solutions and computer technologies to succeed.” What online services do you think best help entrepreneurs and small businesses? Why?
Susan: The answer depends on the business but a big opportunity is social media — blogging, microblogging (Twitter), podcasts, and video offer the unique ability for businesses to connect with consumers around the world in a way that didn’t exist even 5 years ago.

Network Solutions: In your opinion, how can entrepreneurs and small businesses use the SBSI to their advantage?
Susan: The SBSI provides a reminder — don’t give up on marketing, prioritize investments, continue providing great service, and recognize the power of the web in positioning small businesses for success.  Get involved in social media now before it’s too late.  You can either lead the way or play catch up later.

This entry was posted on Tuesday, April 14th, 2009 at 3:00 pm and is filed under Entrepreneurs, Interviews, small business. You can follow any responses to this entry through the RSS 2.0 feed.


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