Navigating critical choices is extremely challenging in today’s rapidly changing environment. With economic fluctuations, workforce challenges, and unexpected market disruptions, business leaders are under pressure to make critical decisions. That’s why I launched a project to explore the decision-making processes of business owners in Northeast Ohio.
In collaboration with a talented group of students from Kent State University, we connected with 53 local business owners who generously shared their experiences, insights, and decision-making strategies. Over several months, we gathered data and conducted in-depth interviews to uncover which challenges they face and the strategies they use to steer their companies through both calm and stormy seas.
This is a 4-part series that covers Decision-Making Strategies for Business Owners.
Part 1 | Part 2 | Part 3 | Part 4
What Sets Thriving Businesses Apart?
Starting and running a successful business is no small feat. According to the U.S. Bureau of Labor Statistics, 48% of businesses fail within the first five years and 65% by year ten. So, what differentiates the businesses that thrive from those that struggle? What strategies and decision-making processes enable business owners to navigate adversity and seize opportunities?
These are the questions that drove me to embark on the Navigating Business Decisions study. Through in-depth surveys and interviews, we uncovered valuable insights from Northeast Ohio’s business leaders that offer actionable strategies for decision-making, growth, and innovation.
The Purpose Behind This Study
As a business strategist with over a decade of experience, I know that successful consulting is not about offering one-size-fits-all solutions. It’s about listening, learning, and partnering with owners to discover the best path forward. The most effective strategies often stem from recognizing and optimizing what is already working within their business. especially listening to Foundational Staff.
This study amplifies the voices of business owners, sharing firsthand experiences about the challenges they face and the decisions that shape their companies. The survey and interviews not only highlighted struggles but also uncovered the success stories of leaders who continue to adapt, grow, and innovate even in tough times.
What We Learned
The leaders we interviewed are facing complex challenges that go beyond the typical operational hurdles. From economic uncertainty to workforce shortages and shifting market demands, they are continually making choices that align with their long-term vision. What stood out most is their adaptability—how they assess new risks, learn from mistakes, and use those insights to drive innovation and growth.
The findings of this study are invaluable not only for Northeast Ohio’s business owners but for leaders everywhere. These insights can help inform smarter, more resilient business strategies that stand the test of time.
Key Themes and Takeaways
Through our research, several key themes emerged that can benefit business owners across industries:
- The Evolving Business Landscape
Business owners are adapting to rapid changes in the economy, including supply chain disruptions, workforce shortages, and evolving regulations. - Strategic Decision-Making
Successful business leaders prioritize long-term growth over quick fixes. They invest in innovation, employee development, and process improvements to stay competitive. - Foundational Leadership
Effective leadership goes beyond making tough decisions. It’s about fostering a culture of resilience, adaptability, and continuous improvement within the organization. - Profitability and Sustainability
Balancing profitability with sustainability is crucial. Business owners are finding creative ways to cut costs without compromising quality or employee satisfaction. - Community and Legacy
Many business owners in Northeast Ohio view their businesses as more than profit-generating entities. They are integral to their communities, contributing to regional economic and social fabric.
Why This Study Matters to You
If you are a business owner, leader, or entrepreneur or aspire to start a business, the insights from this study can help you to:
- Learn from the strategies that successful business owners use to stay ahead.
- Identify potential areas of risk and how to proactively respond.
- Gain inspiration from real-world experiences to improve your own decision-making.
- Discover how others have navigated similar challenges and adapted for success.
Business success isn’t just about having the right answers—it’s about asking smarter questions, adapting faster, and learning from those who’ve faced the same challenges. Let’s navigate these decisions together and turn today’s insights into improved results.
Unlock More Insights & Practical Strategies
Discover proven strategies and expert insights to boost profits and strengthen your business. Dive deeper with videos, reports, and ongoing tips designed for real-world results—all available here:
👉 Ohio Business Leaders Survey Results
Watch the Video Series
Explore a
-part video series breaking down key findings, how the study was conducted, and how these insights can be applied to your business.
Get the Full Report for Free
Want all the details? Download the comprehensive 64-page report or grab the quick 2-page summary for key takeaways. Plus, take advantage of a free Profit Leakage Assessment.
📥 Download the Full Report | 📄 2-Page Summary | 💡 Free Profit Leakage Assessment
Follow Along for More Insights
This is just the start. Stay connected for more strategies and tips:
- 📺 Subscribe to the YouTube Series for deep dives
- 📝 Follow the Blog for fresh articles
- 💬 Leave a comment below to share your thoughts or ask questions
This is Part 1 of 4. In the next installment, we’ll dive into the Purpose Behind the Study.
Many business leaders wonder if hidden inefficiencies are draining profit. With our Free Profit Leakage Assessment you get a simple, no-pressure way to find out where the potential problems exist in your business. Let’s explore together where small changes could lead to lasting results.
Grace LaConte
Grace LaConte is a Resilient Profit Strategist who helps independent owners in manufacturing, B2B, and professional services to uncover hidden profit leaks and build stronger companies without burnout or added complexity. She uses proven frameworks and data-driven insights to improve cash flow, boost margins, and create lasting value. When not consulting, she develops practical tools that help owners protect their bottom line and grow businesses that last.