Adapting and Thriving: Small Business Insights from Capital One’s David Rabkin
Update: 2024-06-19
Description
In This Episode: David Rabkin, Executive Vice President at Capital One, shares results from a recent survey on how business owners are navigating challenges and leveraging technology to thrive. We discussed key strategies for resilience, the impact of digital tools, and the role of AI in small business.
Key Takeaways:
- 90% of small business owners are now using digital tools, which is impressive given the analog nature of much of the economy.
- Creating awareness and developing solutions to reach smaller and newer businesses is a massive opportunity for us.”
- Despite challenges, a significant majority of business owners believe in their ability to solve their problems. Confidence and a positive mindset are crucial.
- Actively seeking and learning from customer feedback can lead to beneficial pivots in products, services, and business models.
- AI can automate processes, improve business performance, and help redefine strategies. Small businesses should explore AI tools to stay competitive.
- There are numerous free resources available from federal, state, and local agencies. Business owners should take advantage of these to gain financial and operational support.
The post Adapting and Thriving: Small Business Insights from Capital One’s David Rabkin appeared first on The Small Business Edge Podcasts.
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