This qualitative multi case study was intended to explore successful strategies that business leaders use to manage small and medium enterprises. Participant responses from the face-to-face semi structured interviews were from leaders who owned SMEs, who had difficulty ensuring that their business was successful, and would have implemented effective management strategies for their organization. In addition to the interviews, I also reviewed various company documents and archival information to supplement data collection. I used information from the methodological triangulation data collection competencies process to validate data source themes.
In reviewing the responses from the interviews, three themes emerged demonstrating the importance of (a) outside financial aid, (b) effective communication of management strategies between leader/employee, and (c) effective marketing strategies for the business will improve visibility and sales. The literature reviewed and the conceptual framework used support the findings of this study. Most SMEs find difficulty with regards to sustainability as it is very difficult for leaders to manage and maintain a newly created business without effective management strategies and the correct resources. Leaders who accept these effective strategies while obtaining assistance through venture capitalist or other financial resources should ensure the stability of a SME.