Ever wonder if you made the right decision starting your own business. Every business owner wants to be successful, but too often they go in without a plan for that success. I’ve listed some of the top reasons why businesses sometimes become stagnant.
1. Minimal Support. Many times small business owners lack the support they need because of costs so they try to do everything by themselves. Hiring an employee can be very expensive. You have to factor in payroll taxes, vacation pay, sick pay, workspace, etc.
2. No focus. Small business owners are typically pulled into so many different directions that it’s quite easy to lose focus.
3. Failing to invest in the right support. Cheap doesn’t always mean better. You should be focused on partnering with skilled, committed professionals whom have your best interest at heart.
4. Burning out. Most business owners typically get burned out mentally within the first 2 years of business. It can be stressful trying to learn every single aspect of effectively running a business.
5. Mismanaging funds. Trying to find several cheap routes instead of a few quality support systems. Quality always reins over quantity.
6. No real administrative support. Failing to organize and streamline processes.
7. Poor on-line presence. Not having a website that effectively promotes your business with advertising that brings traffic to that site.
8. No clear plan of action. It takes more that drive and product knowledge to run a business. Poor to little knowledge on the many different aspects of running a business like advertising, marketing, sales, operations, administrative, accounting, etc.
9. Lack of patience. Rome wasn’t built in a day. It takes time to build a profitable business. Stop expecting it to be an overnight success because it seldom happens that way.
10. Lack of preparation. No real clue of who your target market is. No idea what products should be aimed at which markets.
As a savvy business owner, you have to realize that you can’t do everything by yourself. Whether you’re capable or not. You have to understand that time is always your most valuable asset and you can’t be in two places at one time.
Your primary focus should be on activities that will help your business generate revenue. So many of these reasons keep businesses from growing and maturing. The good news is that there’s an easy fix. Outsourcing your administrative and marketing tasks makes it really easy for you to get the support you need without breaking the bank.
Virtual Assistants are independent professionals that offer administrative, marketing, customer service, and sales support to small to medium size businesses. VA (virtual assistants) partner with clients in an ongoing, collaborative business relationships.