5 common problems encountered by business owners
Running your own business is exciting, and a dream come true. However , it comes with its very own specific set of problems and drawbacks – some of which we’ve tried to help you solve here!
- Standing on your own two feet
Of course, part of the point of starting your own business is that you run your own life rather than constantly answering to people higher up the chain, and you want to be self-sufficient. However, that doesn’t mean you have to carry on completely alone as there is plenty of access to startup company support available out there to help you get properly standing on your own two feet. Overstretching yourself risks making mistakes you can’ afford to make, so it’s important to make use of the help and advice that is out there.
- Impact on your personal life
Running a business is the dream for many, but it’s also really difficult and above all, time consuming. 9-5 isn’t a reality for you, especially in the early years when you have to spend every waking minute marketing, chasing clients, fulfilling orders, or responding to customers. This can have an impact on your important personal relationships over time, and it might be a good idea to consider using an organisation like Relationship therapy Mississauga to help make sure you keep on top of those relationships and maintain a healthy, communicative bond with those closest to you even when you’re at your busiest.
- Shipping problems
Once you’ve got a great product and customers that want to buy it, what you instantly run into is the issue of how exactly you plan to get it to them. Finding reliable international freight shippers or even domestic courier services can be really difficult, but ultimately you know it’s important to track down the right ones. The best thing to do is to balance the reviews against the price and range of delivery destinations, but ultimately – put quality first.
The bane of every self-made person is the self-advertising; from freelance writers to startup founders the proportion of time spent on self promotion rather than doing what you love is truly mond boggling. However, it has to be done. There is one way to reduce your time spent on marketing, and that’s to dedicate a set amount of time per month to your marketing and use that time to plan, update, and schedule the next month’s social media and email campaigns – that way your advertising is happening as needed, but you don’t have to pay daily attention to it.
- Tempting shortcuts
Especially as your business starts to grow, it can be really tempting to start cutting corners, especially if it saves you money – for example, asking your assistant to also package orders, despite there really being enough work for two people. Or perhaps even outsourcing delivery to a company with more bad reviews than you would like simply because they’re cheaper, risking customer satisfaction at a time that is critical for your business’ health. Even when it seems difficult, it is important to maintain these standards of ethics you started out with, as customers value this integrity and it will also give you a more robust foundation down the line if you do things the right way now.
Running your own business can be really difficult as well as incredibly rewarding – hopefully this list helped you on your way to working through any problems you might be experiencinG!