If you started your business because you thought it would be all rainbows and unicorns and sitting on sandy beaches with a cool Pina Colada in hand, you’ve probably come to realize this dream was about as far removed from the reality. If you haven’t, you’ll find out soon enough. This isn’t to say there are no benefits of being your own boss; there absolutely are, immeasurably so. But for all the amazing positives, there are certain aspects of running a business that keeps many entrepreneurs awake at night.
That is why we have compiled a list of the most daunting concerns you need to be aware of as a small-business owner. Of course, we’re not in the business of creating problems and stopping you from getting some dorm room shut-eye, we’re here to help come up with solutions and that is exactly what we’ve done.
Big Concern #1: Revenue
The biggest concern of small businesses is revenue. It is that challenge almost every small business needs to do battle with and overcome, which isn’t easy, especially in a more and more competitive market. The best way to address this issue is to look at the facts. Look at where your business is generating the most income and then compare that to where your business is investing the most resource. By analyzing this simple statistic you will be able to refocus your approach and generate more revenue almost instantly.
Big Concern #2: Technology
Yes. It is the big issue of the modern era for the simple fact our highly expensive and state of the art technology seems to become old news within a week. This is an issue because technology is made to improve the way we do things and we haven’t got the latest pieces of kit we know we’re going to fall behind the competition. The best way to solve this issue is to bring a specialist IT Service Provider for businesses on board. That way you will be cutting downtime, cutting costs, improving productivity, allowing yourself to streamline all your needs to one point of contact and, best of all, give you peace of mind and that’s the single best way to sleep well again.
Big Concern #3: Talent
Over half of small business have stated they find it nigh on impossible to get their hands on top talent, which can be a real worry. Employees are the lifeblood of a company, that asset that can make or break a business. So it is no wonder the challenge of securing top talent is such a worry. The big reason this challenge has sprung up is that of the growing competition across all marketplaces. To overcome this issue, you need to know what top Millennial talent is looking for in a company and then align your on-boarding processes to cater for this. Look at your company values, your interview process, your perks of the job, your job descriptions and how your promotion structure looks to an outsider. You can’t afford to ignore these variables if you want to grow (and sleep at night).