What’s The Greatest Challenge For Your Business?


I am sure that we can all agree that if we are not challenged we will never grow!

Most small business owners say their number one concern is sales. Needing more sales or having a strong pipeline to rely on is important and is often one of the biggest indicators of success or failure. Is this one of your greatest challenges? (leave a comment below)

Another great challenge for small businesses today is the fact that the economy has not fully recovered. We have acclimated to the fact that banks are not lending money so we are becoming more inventive but there is still not enough confidence in the economy for Main St. employer’s to higher more people and to expand their business models.

Statistic: “Consistently three-quarters of small businesses feel they’re operating in a stagnant economy. At this stage of a recovery, the economy should be growing at 4%. But when you see this response from the sector that creates over half of U.S. GDP, it’s not difficult to understand why the economy has barely averaged 2% growth per year.”

This is evidence that we no longer rely on Wall Street and the banking system to be an indicator of success so it has been difficult for us as small business owners to feel confident that their is steady growth. “Wall Street, once the leading indicator of the economy is now merely a leading indicator of itself. The new leading economic indicator is Main Street. If you want the economy to grow, create conditions that foster small business growth” This is the truth and no matter what your challenges are right now it is important for all of us to push forward, start your small business, expand. Big business took over Main St. and now it is our time to take it back!

There are so many jobs out there and just as many if not more qualified people to fill them. But for some reason we are still weary of the talent making it difficult to want to invest in them. Instead we opt to do what most small business owners have done for so long and that is to just do all the work ourselves. In the end that hurts our productivity and the economy. “Some sources estimate there may be 4 million positions wanting qualified candidates.” So start hiring, work with talented individuals to expand and watch your sales increase as your products and services get better and your business practices become more automated and streamlined.

Make a commitment to:

-Work More Efficiently

-Automate & Streamline

-Nurture Relationships

-Higher New Talent

Your business can and will grow if you focus on these things and then you will have new challenges to overcome because as we all know life would be boring without a challenge.

 

Reference:

http://www.forbes.com/sites/jimblasingame/2014/04/17/the-greatest-challenges-of-small-business-owners-today/