“Our annual global entrepreneur survey reveals insights into entrepreneurial life, providing key learnings as people consider becoming their own boss,” said John DeSimone, president of Herbalife Nutrition. “This year’s survey findings align with something we’ve heard consistently from our distributors—that good business fundamentals and hard work combined with planning, organization and surrounding yourself with supportive people who can offer an honest opinion, can be essential drivers of success.”
Herbalife Nutrition commissioned the global survey of 8,000 small business owners and employees from 15 countries, which was conducted by market research firm OnePoll. The survey, which included responses from 2,000 Americans, inquired about the specific lessons they’ve learned from workplace mishaps.
According to the findings, 84 percent of small business owners and employees worldwide see making mistakes as opportunities for growth, and small business owners surveyed reported experiencing an average of two unsuccessful ideas before finding one that worked — but these ideas created learning opportunities and were important in their growth. Of those who previously had unsuccessful ideas, 89 percent learned lessons from each one — indicating that missteps are an important part of most respondents’ success.
“In business, just like in life, what matters most is seizing the opportunity to learn and improve,” said DeSimone. “Entrepreneurs are constantly learning and growing, ultimately strengthening their businesses.”
The survey uncovered advice that small business owners would give to new entrepreneurs including:
- Make a business plan (41%)
- Get organized (39%)
- Don’t be afraid to make mistakes (38%)
- Ask for help when needed (36%)
- Surround yourself with people who have stronger skillsets in different areas than you (26%)
Also, according to the survey respondents, the top five lessons learned from mistakes included:
- Learned how to be more productive (41%)
- Gained a better understanding of their tasks (34%)
- Learned how to prioritize (32%)
- Picked up a better understanding of the big picture (30%)
- Developed a willingness to learn best practices and innovate with continued education (27%)
For more information about the survey or tips for entrepreneurs, visit www.IamHerbalifeNutrition.com.
About Herbalife Nutrition Ltd.
Herbalife Nutrition (NYSE: HLF) is a global company that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed products to consumers in 95 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company’s commitment to nourish people, communities and planet, Herbalife Nutrition pledges to achieve 50 million positive impacts – tangible acts of good – by 2030, its 50th anniversary.
Data from an international survey commissioned by Herbalife Nutrition in 15 countries from March 14 to April 11, 2022, with a panel of 8,000 small business owners and employees. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).
SOURCE Herbalife Nutrition (NYSE: HLF)