San Antonio ad man Bill West, who formed Taylor West Advertising twenty years ago and is known as an innovator in local business, has been named the San Antonio Small Business Person of the Year by the Trinity University School of Business.
West’s company specializes in activities from media buying to social media to broadcast production and setting marking and branding strategies.
West says the reason most small businesses fail is not due to a lack of hard work or even a lack of capitalization. He told 1200 WOAI’s Berit Mason that it is due to the failure of the founder to properly judge the needs of the marketplace.
“80% of most start ups fail regardless,” he says. “It may be something they are passionate about, but they didn’t dig deeply enough early on to see if truly consumers saw a need.”
The award was established by the Trinity University School of Business to recognize a local small business entrepreneur for his or her outstanding leadership, commitment to the community, and overall achievement in business.
While people are told repeatedly to ‘follow your dreams,’ West warns that frequently, dreams are not enough.
“Most of them start based on a dream which is really not fulfilling a true market need,” he said.
West will talk with Trinity University business students about his recipe for success before receiving the award on Wednesday.
He says businesses today have to be able to change on a dime, and be aware of the currents of change. He points out that much of his business today involves concepts which didn’t exist twenty years ago.
“You have to have a lot of focus on what you do well, and you also have to be aware of the marketplace, and what the challenging, constantly changing needs are.”