3 Business Challenges and How to Overcome Them
Easy ways to overcome these challenges
1. Scaling & Staffing
As your small business grows, there’s nothing more important that finding and hiring a great team.
Staffing your company with dedicated talent is one of the swiftest way to make sure you’re growing in the right direction.
Another challenge small business owners face has to do with scaling their businesses. Make sure you have a plan for the next 6-12 months, as well as a 3 and 5-year plan that includes specific growth goals. Successful companies hand pick stellar talent and create strategic growth plans that incorporate the talent of the people they’ve hired.
If your business plan doesn’t include ways to manage growth once it happens, it may be time for a rewrite.
2. Staying Competitive
In order to stay competitive, your small business must create a customer-centric marketing plan that’s continually solidifying your relationships with your target market. One of the best ways to do this is through email and content marketing.
3. Managing Money
One of the most important aspects of running a small business is keeping track of the money you make how it’s spent, where it’s coming from and where it’s going. As you grow, managing your finances on a manual spreadsheet just doesn’t make sense.
Many small business owners find that they don’t have time to manage their books because they’re too busy with daily operations, but they can’t quite afford an accountant or full-time bookkeeper.
Source: verticalresponse
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
Business management consultant.
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