Running a successful small business is hard work. That’s why so many of them fail.
Sooner or later, every small business owner—even the most motivated and enthusiastic of the lot—will run into seemingly insurmountable problems that thwart his or her company’s progress.
In almost all instances, these problems are actually very common. Many other small business owners have encountered the same ones over the course of their careers.
Rather than letting these common small business problems hold their companies back, however, these folks have worked hard to overcome them.
When you run into a wall, don’t give up. Use this advice to solve the most common small business problems you face and take your company to the next level.
Problem #1: I’m having a hard time getting new customers or clients.
It’s no secret that getting new customers or landing new clients is tricky—particularly when you’re just starting out. While you can’t expect to grow your business exponentially overnight, you can take the right steps to increase the chances that new customers find you and you start generating more revenue.
For example, if you haven’t done so already, launch a website that makes it easier for your customers to locate you when they search online for the products and/or services you offer. Better yet, enable e-commerce functionality on your site so that you can make money even when you’re asleep.
You could also offer promotions, contests, and giveaways to generate buzz for your business on social media. And you should incentivize your employees (e.g., commissions or prizes) so that they’re encouraged to try to bring in new business themselves.
There’s no end to the number of tactics you can employ to attract new customers. It might not happen overnight, but with enough commitment, you will almost certainly generate more revenue over time.
Problem #2: I don’t have enough money to grow my business.
From time to time, virtually every small business owner runs into cash shortages. That’s the nature of being an entrepreneur.
Instead of letting cash-flow problems stunt the growth of your business, be proactive and take matters into your own hands. For example, you can apply for small business loans online to get access to the money you need to finance your operations.
To expedite the process and increase your chances of approval, consider borrowing money from a non-bank lender instead of a traditional banking institution.
Problem #3: I am too exhausted to run this business every day.
Small business owners are known for working hard and rarely taking time off.
If you don’t set aside enough time for rest and relaxation, you will almost certainly burn out. Don’t force yourself to put in 15-hour days seven days a week. Set boundaries and delegate tasks to make sure that you’re able to take enough time off to recharge your batteries.
Not only will making downtime a priority improve your health, but it’ll also give you time to come up with new ideas and look at your products and/or services from a fresh perspective.
Problem #4: I have a hard time convincing my employees to work hard.
According to a recent study, more than half of U.S. workers are burned out. So if you’re having a difficult time motivating your employees to become fully productive, you’re right where countless small business owners have been before.
You can’t control how much effort your employees put in. But you can control how heavy their workloads are, how reasonable their job expectations are, how enjoyable the work culture is to work in, and how much they get paid, among other things.
Make it as awesome as you possibly can to work for your small business and employee efforts should increase.
Nobody ever said growing a small business into a big one would be easy. But with the right mindset and enough determination, it’s within your reach.
To learn more about what you can do, specifically, to help your business reach its full potential, check out our ebook, The Small Business Owner’s Marketing Playbook.