The 21st century approach to growing business, challenges the old-fashioned idea that sizes were solely identified through the number of employees or turnover. These are now accepted as solely industry comparisons.
Your Silent Partner motivates private sector enterprise (PSE) owners and managers to understand the basics of management for different sized enterprises and do whatever it takes to ensure business stability and success through any growing pains. This may be done through understanding that micro, small and medium enterprises are each in their own way unique and should not be combined as a group such as SME or MSME.
Private sector enterprises are businesses directly controlled by an owner-manager. They are globally considered to be the engines of economic growth. Until now, there has been a lack of agreement as to how to distinguish each size in different locations and industries and how to find standard measurements to define each size. Your Silent Partner revealed that enterprises do not change size as a reflection of their construction, but transition in size through clear, standard, definable stages. Therefore, the definition of PSEs are able to be characterised by their position within a matrix, that consists of the owner-managers’ ability and how they organise their company. Your Silent Partner shows that an enterprise is established at a particular size, and then it is possible to transition to the next stage quite smoothly. However, for some it is possible to take years to transition while others may find the transition stage can become a permanent state, lasting the lifetime of the enterprise.
Success in business is a journey of action and learning rather than solely a movement to a destination. However, that journey is only possible if both the destination and path have been chosen and a plan prepared to embark on that expedition. Success in business comes from knowing the essentials and doing them! Although there is no guarantee for success in business, studies have shown very clearly that there are a number of keys that can greatly enhance the probability of success. The challenge is then to focus attention and effort on those critical activities that will create the results you want.