There are some unique challenges that are especially difficult to overcome when dealing with business. Whether you’re just getting into the game or you’re thinking about facing obstacles, we are here to make your life easier.
01 Make It Easier To Face Obstacles In Your Business: brainstorm and solve problems
To create a successful and relevant business, you have to first think about what problem you will solve, how you can really help your clients and what your competitive advantage is. The first step is to establish your target audience and its context. Then make a list of problems related to their reality and possible solutions. For example, making a list of problems about local public affairs is efficient to become aware of what you will develop to public employees (your clients). In short, you need to choose a specific audience, recognize the scale of its problems and the need for a solution, then create a system or a product that solves the problem(s). Write down your every idea in post-its!
02 Failures open up the doors of success
If you tried one solution and the prototype didn’t work, do not worry. Failures and faux pas are part of our journey and they must be seen as a great opportunity to learn and improve ourselves. We need to accept that our failures make us unique and are part of important lessons. Some people say that the kind of mistakes you make define you. So, the more interesting the mistake, the more interesting the life. Try a lot! As Samuel Beckett once said, “ever tried, ever failed. No matter. Try again. Fail again. Fail better”.
03 Make It Easier To Face Obstacles In Your Business: develop emotional resilience
If you take risks, you will have failures, it is part of the game. Therefore you need to develop emotional resilience to stay strong and don’t give up. Most successful people have always found ways to turn their failures into successes. Their background stories reflect resilience as you never know what your failure today will lead to in a few years. But one thing is for certain, taking a problem, creating a plan that fixes it and then using it to your benefit can only make you stronger. Accept your failures as a normal part of the process and go on!
04 Abandon what doesn’t work
Don’t be a fool: learn from your mistakes and abandon what doesn’t work. To err once is human, to make the same mistake twice is stupidity! Some products or services you include in the business might not work. We tend to fall in love with our own products and services and find hard to let something go. It’s almost as if we have developed blinders that prevent us from seeing what is very clear to outsiders, but not to us. Like people say, if you’re going to play the game, you need to know when to fold the cards.
We need to accept that our failures make us unique
05 Make It Easier To Face Obstacles In Your Business: use new strategies
Some obstacles are the result of our bad habits – i.e. clinging to outdated models and ways of doing business because it’s what we know best. Always try to update yourself on what is happening in the market and look for new methods to solve old problems. They can work just fine, open your mind and stay active!
06 Manage your cash flow and keep money coming in
Money problems in their several forms are at the top of most lists of company woes. For small businesses, the major worries are clients stalling payments, unexpected outgoings, and outstanding bills that will not wait to be paid. There are some money management tools that can help you to manage cash flow, multi-functional apps that can create budgets, calculate VAT, automate bill payments, alert you of unusual outgoings and provide a free credit score. Look for it and keep the money coming in!
07 Make It Easier To Face Obstacles In Your Business: stay focused and do your best
Simplify and stay focused on what you know and what you do best. In other words, “stick to the knitting”. If you believe in your product or service and you know that it adds value and solves problems, don’t go looking for the next exciting thing. Stay focused and win this game!
08 Be close to the sales function
Attention: during the startup phase, entrepreneurs generally act as sales chiefs. It means that they know their product or service best because they have created it. As they grow and start to hire staff, some founders may remove themselves from the sales function. They usually slowly start to distance themselves as they focus on financing, people management, and other operational issues. And it’s a trap! They may end up losing their grip on what matters most: sales, sales, and more sales. As we all know, sales can make or break a business.
09 Make It Easier To Face Obstacles In Your Business: set aside time for yourself
Fatigue is one of the most commonly overlooked small business challenges. It can leave you disorganized, forgetful and cranky, not paying as much attention to clients and products as you should. Business owners have to pace themselves, which includes embracing strategic delegation, something that for any highly motivated individual isn’t an easy ask. You can start by identifying business elements that don’t require your expertise, such as mailing, and take on an assistant to help you out. We advise you: for the best of your business, set time aside for yourself!
10 Focus on your most profitable customers before taking new steps
To understand what customers want, you can ask for feedback from your current best clients, which also counts as part of your follow-up engagement, another ‘must do’ when you’re looking at keeping valued partners. Take everything into consideration and be as attentive as possible.
You must focus on your most profitable customers
11 Make It Easier To Face Obstacles In Your Business: cut back your overheads
Overheads are one of the biggest small business challenges and excessive overheads have driven many otherwise good companies to the wall. Resolving them involves paying close attention to what customers actually want and providing products or services sharply tailored to fit. This means working out what customers need and trimming back gold plating or unnecessary services. Try to cut back on your overheads!
12 Teambuilding: motivation and union
Even if you have management experience, picking the right team for a startup is stressful and difficult. It’s not enough to find candidates who fill certain roles; you also need to consider their culture fit and how they’ll work as part of your overall team. Another important tip: team motivation and unity are very important. Ensuring employees are happy and productive means communicating clearly and being approachable. Good companies foster a relaxed atmosphere where staff feels able to talk to management. You should also ask for employee feedback regarding their needs. This is not an option, it’s a must! Too many businesses don’t look at what their employees want, assume everything is fine, then wonder why they have a high staff turnover. Motivation and unity must always be up, do not forget that!
13 Make It Easier To Face Obstacles In Your Business: deal with the unknown
What kind of business should you start? How long will your business exist? How profitable will your business be? Will customers like your service? Will you be able to give yourself a steady paycheck? None of these questions have a solid, reliable answer.
Dealing with this volatility is one of the hardest parts of emerging as a new entrepreneur, but it is a great learning opportunity!
14 Rulemaking: create agreements together with the team
Do not be a dictator. Of course, your business needs rulemaking. How about creating agreements together with your team? Acting like that you will get more commitment from the team. Remember: your role is not to create or dictate rules, but to remind employees of previously agreed agreements. Try to communicate with them in a calm and empathetic manner.
15 Make It Easier To Face Obstacles In Your Business: decisionmaking
New entrepreneurs are forced to make hundreds of decisions a day. From big, company impacting decisions, to tiny, hour affecting ones. These decisions aren’t easy. Decision fatigue is a real phenomenon and most new entrepreneurs will experience it if they aren’t prepared for it. Always try to remember the main goals of your business and your personal goals before making any decisions.