Watch for the Five Ps in every small-business success story. This will not be the first time you have read about the importance of critical items to startup and early stage, small-business success.

After spending more than 10 years mentoring and coaching startups, I am equipped to opine on the most important Ps in early stage small businesses. These are things, in my opinion, that are essential to small-business success and I believe many of my associates would heartily agree.

The Onondaga Pitch Competition required a three week development of the business plan before the  final elevator pitch competition/ presentation night.

The competition promotes existing and start-up entrepreneurs and small business development in the Syracuse Onondaga County area.

Participants pitched their businesses to a live audience and panel of judges who provided expert feedback and awarded cash prizes.

Family-owned businesses can excel at generating economic value by creating broad-based value for all stakeholders (not just shareholders). This includes employees, customers, and society in general.

According to a PWC report: “Many of today’s most successful family businesses are extending the power of their values to benefiting others — not only their businesses and people, but also the communities in which they operate, as well as the projects and philanthropies that fit their personal mission.”