In this second of a four-part interview series, I speak with Paul Edge, President of Triden Group based in San Diego, California. Founded in 2016, Triden Group is a single source, full-service security solution provider that focuses on security, cloud and networking solutions built around scalability and integration.
Having stable finances, a strong employee base and good customer satisfaction results are the core elements of the three-legged stool to keep one’s business solvent and sustainable. Twenty-nine percent of small businesses fail due to cash flow, 23% fail for not having the right team running the business and 14% fail due to poor customer relations.
Small business Quick Facts:
- The average amount of startup capital required by a small business owner is $10,000.
- Twenty-seven percent of businesses surveyed by the NSBA claimed they weren’t able to receive the business funding they needed.
- Big banks approve around 26.9% of small business loans.
- The average SBA loan amount from large national banks is $59,000 and the average from small banks is $165,000.
- Fifty-six percent of small businesses think finding great talent is their biggest challenge.
- Thirty-seven percent of small businesses offer higher salaries to win employees over.
I asked Paul about the most critical factors that he has had to navigate since Triden Group opened, and to share some insights related to challenges facing small businesses today.
Listen to the 22-minute podcast below with Paul to hear more and be sure to look for the next podcast in this series – “Part Three: Keeping an Open Mind.”
About the Author
Terri Thomas is the Marketing Operations, Senior Strategist for the Integrated Communications and Brand Engagement team at Tech Data. She is responsible for developing process governance, implementing best practices and sustainability — specializing in contact database management, marketing automation, process development, analytics and systems optimization. Terri has been with Tech Data for 14 years and brings more than 20 years of professional experience in distribution as well as in the analytical instrumentation and logistics industries. See Terri’s background and profile on LinkedIn.