Small business strategies for sustainability beyond 10 years

Small Business Strategies for Sustainability Beyond 10 Years by Gabriel Emmanuel Warren MS, Ashford University, 2012 BS, University of Alabama, 2005 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University May 2016 Abstract Small businesses are vital to the health of the United States economy, as they account for approximately 50% of all jobs and 99% of all firms. Historically, there has been a problem with small businesses being able to sustain their operation beyond 10 years. The purpose of this multiple case study was to explore the business strategies some small business owners used to sustain their company beyond 10 years of operation. The sample consisted of 3 small business owners who have been in operation for 10 or more years in Birmingham, Alabama. The conceptual framework for this study was the general systems theory. The data were collected from semistructured interviews, profit and loss statements, and cash flow statements. Transcript review and member checking were completed to strengthen credibility and trustworthiness. Based on the methodological triangulation of the data sources collected, 3 emergent themes were identified after completing the 5 stages of data analysis: (a) great customer service, (b) building relationships, and (c) finding your passion. The findings from this study may contribute to social change by providing insights and strategies for small business owners in creating and operating a sustainable business. The data from this study may contribute to increased job creation, improved local communities through tax revenues, and decreasedSmall businesses are vital to the health of the United States economy, as they account for approximately 50% of all jobs and 99% of all firms. Historically, there has been a problem with small businesses being able to sustain their operation beyond 10 years. The purpose of this multiple case study was to explore the business strategies some small business owners used to sustain their company beyond 10 years of operation. The sample consisted of 3 small business owners who have been in operation for 10 or more years in Birmingham, Alabama. The conceptual framework for this study was the general systems theory. The data were collected from semistructured interviews, profit and loss statements, and cash flow statements. Transcript review and member checking were completed to strengthen credibility and trustworthiness. Based on the methodological triangulation of the data sources collected, 3 emergent themes were identified after completing the 5 stages of data analysis: (a) great customer service, (b) building relationships, and (c) finding your passion. The findings from this study may contribute to social change by providing insights and strategies for small business owners in creating and operating a sustainable business. The data from this study may contribute to increased job creation, improved local communities through tax revenues, and decreased unemployment rates throughout the United States. Small Business Strategies for Sustainability Beyond 10 Years by Gabriel Emmanuel Warren MS, Ashford University, 2012 BS, University of Alabama, 2005 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University May 2016 Dedication This study is dedicated to every small business person who made the decision to go after their dreams and pursue entrepreneurship. My desire is that the results of this study will help to improve your small business and make it more efficient by the findings. I would also like to dedicate this study to my family: my dad, Andrae Warren Sr.; mom, Clementine Warren; sister, Cynthia Dorsey; sister, Bernadette Warren; brother, Andrae Warren Jr.; brother, Joshua Warren, and brother, Joseph Warren. Lastly, I want to dedicate this study to my second mom, Mary Hunter; dad, Ronald Hunter Sr.; sister-inlaw, Simone Hunter; sister-in-law, Latesha Wright; brother-in-law, Ronald Hunter Jr.; and brother-in-law, Tuane Greene. Never stop reaching for your dreams, because it is possible with the support and love of those who care for you the most. I love you guys more and more each day. Acknowledgments I would first like to thank God for giving me the ability and the drive to survive this journey of becoming an academic scholar. I would like to thank my wife, Ebony Warren, and our sons, Gabriel Warren II and Christian Warren, for your unfailing love and support as I pursued this journey. Thank you for sacrificing family time so that my dream of becoming an academic scholar could become a reality. Because of each one of you, I continued to push so that we could all celebrate earning this degree together as a family. As I walk across the stage to get my degree, know that you are all walking across with me. To my committee chair, Dr. Lynn Szostek, second committee member, Dr. Tim Truitt, and University Research Reviewer, Dr. Kim Critchlow, I am very thankful for your guidance and leadership that has helped me navigate through this process. To my colleagues, Melvia Scott, Leslie Hollaway, Olivia Miller, Cynthia Young, Candace Brown, Egypt Grandison, Terry Long, and Roxie Mooney, I want to thank you for helping me to stay focused, encouraged, and motivated to finish this process, even when it felt insurmountable. To the entire DBA faculty and staff who helped assist me in every facet of completing this program, I thank you. Dr. Freda Turner, Fred Walker, and Dr. Reggie Taylor, I thank you for the commitment you have to make this program one of the best in the country.