T-Mobile research indicates that about 56% of the small business owners in the UK would, when making decisions about their businesses future, rely on gut instinct. The survey of over 2,000 owners of small businesses examines the decision making process and the factors that affect it and tries to look at the personal feelings of owners with regard to change and their overall attitudes.
Over 56% thought that there was nothing that could stop them from making change in their own small businesses while 36% are more apt to initiate more change in their corporate life than their personal one. The overwhelming majority, 80% said they are optimistic by nature.
Explaining their very proactive means in initiating changes to their businesses about 23% said they were slow in reacting to make changes to their business and worrying about change was named by 20% of those polled.
A spokesman for the Forum of Private Business, Phil McCabe believes that the ability for the small business owner to think on the go is one of their key strengths. Sound planning is a good practice but with the ability to think on the go, the small business owner can be more flexible when a sound business opportunity presents itself.
T-Mobile SME Director Martin Lyne believes taking risk at times is needed as well as making quick snap decisions. There is always going to be some sort of element of risk and included in that risk is to be able to make a good snap judgement decision and move forward.
Gut instinct plays a key role in many decision making processes some of the small business owners are using an alternative to that when talking of change. A full 6% said they would consider using a psychic, fortune teller or horoscopes to help with the decision making while 17% of the owners younger than 30 often times would consider flipping a coin to make their business decisions.