Today’s industry and entrepreneurship successes have been built on the backbone of small and medium-sized businesses (SMBs). These companies employ fewer than 500 employees each, but together contribute up to 99.7% of all business in the U.S., and local communities rely on them as key sources of employment, goods and services.
In this series of four interviews, we’ll speak with a few of Tech Data’s reseller partners to get a better understanding about what drives them, what challenges they face keeping their businesses successful and how IT implementations have helped them and their customers.
As a general rule of thumb, having a strong core — whether it’s your body, mental state or even in business — improves balance and stability. Building your core strengths and competencies will not only keep you on track, but also on target to meeting your goals and objectives.
Small business owners are fiercely committed and are generally successful, with two-thirds surviving their first two years in business. Their ability to react quickly to market changes and adopt new technologies is a true depiction of business agility. With 64% of SMBs stating that technology is a prime factor in reaching their business goals, it’s critical that they create a strong core business so they can continue to be competitive, while still maintaining personal, customer-centric service levels.
Small Business Quick Facts:
- Despite common beliefs, small businesses are actually quite successful, with two-thirds (66%) surviving their first two years, one-half (50%) surviving five years, and one-third (33%) surviving 10 or more years
- Small businesses contribute to 44% of the national GDP
Our first conversation in this series of reseller interviews is with Nate Bailey, CEO and COO, and Chad Goble, CTO and CSO, of SouthTech, based in Sarasota, Florida. SouthTech is a tenured SMB, founded in 1994, and has evolved from the internal IT department of an accounting firm to a managed services provider specializing in unified communications. We asked Nate about the most critical factors that have contributed to SouthTech’s overall successes, particularly related to the current macro and micro business environments. What was his answer?
“Focus on the core competencies, ensuring you deliver unparalleled quality of service.”
Listen to our 21-minute podcast with Nate and Chad to hear more, and be sure to look for our next podcast in this series – “Part Two: Keeping Balanced in an Unsettled Economy.”