Oct 13, 2011 09:50
Sageworks CEO Brian Hamilton this week hosted a live chat on Inc.’s website, where he offered his take on the economy, advice on starting a business and some encouraging words about making your business succeed.
Hamilton noted that Sageworks’ recent data has shown that over the last 12 months, privately held companies have increased their revenue, their net profit margins and their net profits. “There’s so much negative talk about the economy
and yet our data indicates that privately held companies are actually starting to do a little better,” Hamilton said.
Job creation is lagging, Hamilton noted, but he expressed confidence that this cycle will follow history and eventually result in new jobs. “It’s bad right now, but it will get better,” he said. “Americans are good business people. We’re good at job creation; we’re great at company formation, or small business formation, so things should get better.”
Hamilton encouraged entrepreneurs to get close to customers, to determine what about your business is unique and to do something you love. He also cautioned against being too willing to borrow money and against providing credit to customers when you don’t really need to.
To see the entire live chat, click below:
Watch live video from Inc. Magazine on Justin.tv