In the last year, we've spent some time working closely with our clients by not only working on their marketing strategy but also assisting them with their business strategy. We've found that despite these businesses being great in their field of work, they struggle with day to day management, organisational management and developing workflows and strategies that will assist in improving delivery of their services to customers as well as creating a positive internal culture. Here are 4 of the most common small business issues we've identified across the board:
- Waiting too long to fix a problem – Generally, managers understand and are mostly aware of issues they are facing. Whether it be staffing, loss of profit or any other workplace issues, we've found that these either get ignored and managers hope they will sort themselves out or they just don't have to the time to work out a fix. Unfortunately, these things only get worse over time until they are properly dealt with. We suggest managers invest time in working on resolving internal issues properly as they will always end up affecting the business' output.
- Failure to delegate – A surprising issue that always seems to pop up. We find that managers hire staff to do a particular job but have difficulty delegating work to them or trusting them to take on more responsibility. This unfortunately makes the success of the business highly dependent on one individual (usually the owner) which makes it even more difficult to for the business owners to take a step back from their business. There are so many issues associated with this but we'll leave that blog article for another day!
- Getting too comfortable – Another problem that is extremely common. When business owners/managers have been successfully running their business a certain way for decades, they don't see the need for change; however the problem is, in business things can change all the time. Losing one big customer can impact heavily on a small business – therefore owners should never maintain the 'status quo' and always look for ways to improve, contingency plans and ways to build or scale up on their existing business.
- Quick fixes – There's no such thing. We understand business owners are busy (see point 2) however we really recommend investing time in fixing problems. Giving a disgruntled employee a $10,000 pay rise may keep them happy for now, however the same problem will arise months down the track.
Are you a business owner guilty of any of the above? We've helped many small to medium sized companies get their business on track so that they can focus on growth. The hardest part is acknowledging your business needs help – we can assist with the rest.
Contact us about our strategic business development services.