By , Entrepreneur Staff
Published May 03, 2016
Through surveys and available data, we've examined hundreds of small businesses and come away with six archetypal sets of practices and characteristics that we believe are representative of most growth companies operating today.
The qualifications were simple: Companies had to be domestically owned, privately held, for-profit and have shown net capacity growth over at least two years, with an employee size in 2015 of 10 to 1,000.
Below, we examine the traits of Data Champions, one of the six archetypes of the Entrepreneur360™ Performance Index. To see the other five archetypes, click here.
The generally conservative companies in this group focus on steadily pushing forward via careful planning and data analysis, and by working hard to empower employees. The reward is continued growth and solid cash flow that enables avoiding debt.
Modest growth targets and conservative management leave Data Champions more willing and able than other types of companies to fund themselves primarily through earnings. Their focus on data can make them more prepared to meet challenges than their peers and their emphasis on treating staff well may pair with having much higher expectations of employees.
You don’t have to shoot for the moon or embrace every touted management approach to be a leader. Well-established tactics such as self-funding expansion, being generous with employees, setting modest targets and keeping a careful eye on financials and other performance metrics can do the trick.
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Founded: 2007
Business Type: Pharmaceutical
Website: https://www.assaydepot.com
Founded: 2006
Business Type: Personal services
Website: http://birdsbarbershop.com
Founded: 1972
Business Type: Marketing
Website: http://www.burnsmarketing.com
Founded: 2006
Business Type: Automotive
Website: http://www.cargurus.com
Founded: 2011
Business Type: Crowdfunding
Website: https://circleup.com
Founded: 2008
Business Type: Design
Website: http://enlisteddesign.com
Founded: 2011
Business Type: 3-D printing
Website: http://formlabs.com
Founded: 2009
Business Type: Transportation
Website: http://jointhelegion.com
Founded: 2008
Business Type: Education
Website: https://www.livelingua.com
Founded: 2008
Business Type: Health care
Website: http://www.medcpu.com
Founded: 2005
Business Type: Marketing
Website: http://o3world.com
Founded: 2012
Business Type: Publishing
Website: https://www.rebelmouse.com
Founded: 2011
Business Type: Cloud security
Website: https://ring.com
Founded: 1991
Business Type: Human resources
Website: http://www.uniquehr.com
Founded: 1997
Business Type: Marketing
Website: http://www.webpagefx.com
Read more about each archetype:
https://www.foxnews.com/us/for-entrepreneur360-data-champions-success-is-steady-plotted-and-planned