The opinions expressed by Podjetnik employees are their own.
I recently spoke with a small business owner who was quite successful and overcame so much to get where she is. She owns a cleaning company and has been in business for over 25 years. Nevertheless, the last four or five years have been an increasingly challenging period for generating new business. As we discussed the issues, I asked her how she raises funds from current clients and how she uses social media to get new clients, and she immediately said, “Oh, I never use computers, I don’t believe in them.” Bingo — found the problem.
You’d think learning technology would be an easy fix, right? Just a few hours of computer science and she’s ready, right? Wrong. She won’t do it. In fact, he is extremely opposed to technology in any form. Which is unfortunate, because we all know how important online accessibility is to today’s business, right? You also know how important it is to keep up with technology and the expectations of your customers, right? She also stated that she wants to continue running the business and then sell it in about 10 years. The sad truth is that in 10 years it may not be in business at all. The competition will beat her simply because they’ve embraced technology and kept up with the changes, while she’s still doing what she’s always done.
“They don’t want to learn the technology” is just one of the many problems facing business owners today, and hopefully by shedding some light on these issues, you’ll avoid some of the pitfalls.
Related: The 10 Biggest Challenges Small Business Owners Are Facing Right Now
1. Inability to use or update technology
My wife and I had a contractor in the house to check out the kitchen remodel. Of course, he himself talked about how good he was, how long he had been in business, how great his results were, but there was no evidence. Read also : City Council Approves 30.95 Million Small Business Rehabilitation Plan. No website, no mobile site, no Facebook, no LinkedIn, no Google reviews – NOTHING. This might have worked for people years ago, but not today. We’re over.
Look, getting a good desktop or mobile website is so easy and cost effective these days it’s ridiculous, and you have no excuses not to. In fact, it’s the same with online reviews that you need because it’s today’s version of word-of-mouth marketing. All of this is so easy and affordable that a small business would have to be extremely creative with excuses not to build an effective online presence. So, stop making excuses and start doing it.
But technology goes further. For example, today’s customers want quick, easy and convenient ways to pay for your services. Checks and cash are used much less today than they were a few years ago. It is estimated that only 19% of all transactions in the US were made with cash last year. With apps like Zelle, Cash App, and Venmo, people are experiencing the ease and convenience of new payment technology. So what have you done to make it easier for your customers to do business with your business? Are you meeting their expectations in communication, collection and/or service selection?
A desktop and mobile site to build your online presence
Online images and videos to help educate customers and your prospects
Simple ways to deal with customers (sales, collection, communication, etc.)
Review what industry updates are available and see how you can implement them.
See what your competitors are doing and find out how you can do it better.
Related: How to prepare your business to adapt to new technologies
2. Millennial workforce
Love them or hate them, they’re here and they’re not going anywhere, so learn to work with them. By far the biggest challenge employers face with this generational workforce is the fact that they will be changing jobs frequently. On the same subject : The report indicates that DSV has interests in acquiring C.H. Robinson’s Global Forwarding Business. In past generations, employees chose to be more loyal, but today’s new workforce knows that’s a load of crap. Today, a company needs to show employee loyalty to retain top talent for long-term benefits.
But before you think that you have to pay them more, this is not always the main problem. Millennials tend to look for a company that makes a difference in the community and/or the environment. These people really like to feel good about who they work for and know that what they do every day makes a difference in people’s lives.
So, one simple way to help retain this workforce is to get involved in some worthy local causes. And the easiest way to do this is to simply task the millennial with starting and making sure it continues. When you allow someone to step out and take responsibility, they’ll stay with your company longer because it’s their project and they’re personally committed to it.
That means you’ll be generating new leads for the next level of your business at the same time (you’re welcome). Here’s what you should aim for:
Keep employee loyalty expectations in perspective.
First, show loyalty to your employees before you expect it from them.
Allow your staff to create ways for the company to give back to the community/environment.
Read articles about millennials and how to best work with them.
Related: This is the kind of job millennials are looking for
3. Resistance to change
During the Korean and Vietnam wars, American soldiers came home from overseas and began learning the martial arts styles they were taught, and they were taught the way their teacher taught them, who were often physically brutal. That was fine until The Karate Kid came out in the 80s. To see also : Israel’s high-tech funding fell in the first half amid fears of a global recession. These master fighters weren’t ready to teach little Billy, and they certainly weren’t ready for Billy’s mother! Martial arts schools were bombarded with younger customers wanting to learn, and schools that were able to navigate the changes in their industry were successful. If they did not change, they went downstairs and closed their doors.
But martial arts is not the only industry that has faced change. Look at the changes in the real estate industry over the past 20 years. Look at the fitness industry, banking, as well as air conditioning and heating. Every industry changes due to different factors and, honestly, who cares why it changes? What you need to do as a business owner is to see the change coming and make the necessary adjustments to stay relevant.
Look for changes in your industry with new technology, new services, etc. and create them.
Look for changes in customer requirements/expectations and deliver them.
Find and obtain any new training for yourself and/or your staff.
Look at what you are doing that is too old school for your customers and stop doing it.
Read the book Who Moved My Cheese?
Related: How to Manage Resistance to Change in an Agile Organization
4. Doing it all themselves (a.k.a., not delegating)
If you’re good at what you do, why would you even ask for help? You are strong. You are independent. You are successful because you did everything. And since no one knows as much as you do, you can do it all yourself. And you’re absolutely right — until you’re wrong.
Jamie, an HVAC company owner I know, was a freelancer for years until he really wanted to reach a new level of success and make more money. The only way to do this was to scale up, and to scale up he had to bring new people into his business. He had someone else take care of the books and collections. All the sales were done by someone else. Someone else took care of the marketing and online presence. He only trained the employees so that they could do practical work instead of him. However, today he even has someone else doing the training. He now has about 40 HVAC trucks and is branching out into plumbing by getting licensed and hiring experienced master plumbers to run that branch of the business. Jamie hasn’t turned a key in years, and because of that fact, he’s making a lot more money.
So what do you delegate? Will you give up the things you’re not so good at or maybe don’t like and let someone who is good at those things handle those tasks? Proper empowerment means the freedom, growth and development of leaders for your company. Try it.
Make a list of things that only you can do right now.
Make a list of people you think can learn these skills and then teach them.
Make a list of things you hate and are not good at.
Make a list of people who can do this for you.
Set clear expectations and review results weekly in employee meetings.
Let these people do their new job and avoid them.
Know that delegation is a big part of developing your future leaders.
Pro tip: While these topics may not be at the top of someone else’s list, I actually sit down with business owners all day, every day, and I can assure you that these issues are common topics I discuss throughout the week. But if I had to pick the one that is most prevalent, the one that has caused the biggest challenges for business owners, it would be resistance to change. Many business owners hate change and their reluctance to keep up with change is always a downfall for businesses.
Starting a business is a major accomplishment for many entrepreneurs, but maintaining a business is a bigger challenge. There are many common challenges that every business, whether large or small, faces. These include hiring the right people, building a brand, developing a customer base, etc.
What small business Owners Should Know?
8 Things Every Small Business Owner Should Know
- Culture counts. Whether your company employs two people or 200, corporate culture matters. …
- Hire the right people. …
- Delegate your way to success. …
- Have a contingency plan. …
- Billing is essential. …
- Customer service is king. …
- Understand the new health care law. …
- Marketing to ensure a high return on investment.
What should small business owners focus on? A small business owner needs to take a good look at their to-do list and decipher what they can handle and what they can delegate to trusted employees. Identify the strengths of each staff member and determine who can best handle marketing, procurement, financing, sales promotion, etc.
What keeps small business owners up at night?
A new survey from DaySmart Software says this is the number one challenge for small businesses in the US. According to data, making enough money keeps 54% of small business owners up at night.
How can a small business survive in a competitive market?
Find profitable niches with less competition in the wider market to find an audience. Own this space. Then see if you can cross-sell or up-sell products or services to them. Make sure you focus on the prospects who have the biggest problems to solve and for whom there are fewer service providers.
What is the problem you may encounter in starting a business?
1. Failed planning. CHALLENGE: With the excitement of a new business idea, it can be tempting to start without thinking much about the future. However, a lack of planning can mean your business runs out of cash or is unprepared for vital activities such as marketing or dealing with suppliers.
