6 Ways Small Business Owners Can Overcome Everyday Obstacles

As a business owner, you are constantly jumping over hurdles and putting out fires. It is engrained in you to be proactive, and when you can’t you seize the day and take action on the obstacles that lay within your path. Whether it’s surging forward on developing a new product or service or adjusting the current options and offers you now have available to you, every day is full of opportunities.

When opportunities arise, so do obstacles. Unfortunately steering clear of them sometimes isn’t an option. You can however navigate through the fog a bit easier using the suggestions below.

6 Strategies To Overcome Everyday Obstacles

1: Listen to Your Gut

Surround yourself with people who know you, like you, trust you, and most importantly support you. At the end of the day, the people you are going to rely on to help you achieve your company goals are crucial to its success.  This does not mean hire friends and family, it simply means to be selective with your choices and confirm they want to help you build and grow your company. Benchmarking a job as well as job-matching employees to that role will ensure you have the right people in the right seats.

2: Avoid Emotional Pricing

Many business owners have a difficult time selecting a price point for their product or service.  It’s hard to emotionally disconnect yourself from the product or service’s worth; it is after all – yours. By closely analyzing the hard costs and potential competition, you can price with your head, not your heart.

3: Be Frugal With Your Funds

Running a business is costly and having a secure line of credit to help power business growth is convenient.  When factoring in employees, healthcare, office supplies and production costs, you’re already on a tight budget.  Obtaining access to working capital has its perks. A quick and simple solution is Kabbage. With no fees until you draw against your credit line, you can qualify to get a business loan instantly, safely, and securely with no obligation 24/7.

Though you may experience a euphoric feeling when funding begins to roll in, replacing the thrill with common sense will prevent you from bankrupting your own company or using your company’s funds like it’s your personal playground to live lavishly through. Be frugal on spending. Every penny adds up and could ultimately make or break your budget.

4: It’s Ok To Let Go

Avoid wearing blinders while evaluating your products, services, offers and staff. What once worked, may no longer be applicable in today or tomorrow’s market. Accept change and let go of what you think you know by allowing yourself to responsibly learn new tactics and strategies so you can stay competitive.

5: Stay Focused On Sales

As a business owner, you are likely wearing multiple hats. Depending on company growth, the one hat you want to maintain or at least stay aligned with is sales. Selling is the most important function in your company. And you know your product and/or service better than anyone. Align yourself with sales executives who can help drive your sales growth and maximize the organizations profits.

6: Automate Whenever Possible

The great thing about developing a startup business today is all of the accessible data, applications and software systems you have available to you at your fingertips. The challenge determining what in particular you need to automate versus what you would like to have just because it’s new and all of your entrepreneur friends have it as well. Evaluate what processes eat up a majority of your time and what you dislike doing, from there research how it can be automated.

For instance, time and attendance software can be pre-programmed with schedules for meals and breaks, PTO and labor management. A sophisticated system will integrate with your payroll system automatically, helping prevent errors for tax deductions, and essentially taking the hassle out of managing your employee’s schedules and attendance.

Talk to an Expert

View Similar Posts

Training on Time & Attendance Software

Every worker loves new technology, right? Not quite. The truth is, even in today’s business world, where certain segments seem dominated by news of an ‘always on’ culture, adopting and training on new technology can be daunting for plenty of employees. Training Employees on New Time & Attendance Software Perhaps you’ve recently added one or […]

Read More >

Cloud-Based Time & Attendance for Satellite Offices

Organizations are always looking for ways to improve processes. Many leaders prioritize efforts that increase sales, or maximize ROI on marketing efforts. They also care about enhancing the way employees connect, collaborate, and sync up across different locations, including satellite offices. Time and Attendance Software for Satellite Offices These days, business happens almost anywhere, and […]

Read More >

Convert to a Point System – a Simple and Effective Employee Productivity Tool

Many of today’s companies recognize that their employees are the key to their success. Whether their people help drive innovation, create great customer experiences, or follow through on efficiencies, engaged and productive workers typically lead to a successful business. Right now, retaining employees is a hot topic. The Right Point System is a Reward In […]

Read More >
View More
Back to top