9 Ways To Overcome Your Business’s Biggest Obstacles

There are some common big barriers to business accomplishment that many people overlook. In this article, we will be tackling a handful of them one by one and have a closer look on ways to overcome them. Here are some snippets to start with:

The three most common challenges small businesses face are a lack of capital, a narrow client base, and insufficient marketing strategies. As a business owner, it is easy to feel overwhelmed by each of these scenarios. While it may seem impossible at times, the right planning can help you overcome almost anything. If you have been facing any business obstacles, read the following list of recommended actions.

How To Overcome Business Obstacles

If a single client – or a few clients – make up the majority of your profitable income, branching out and finding new clients will be a vital key to maintaining success. While customer loyalty is certainly advantageous, it can be dangerous to rely on such a small group of customers. Informally encourage existing clients – who you know appreciate your services – to spread the word and recommend you to their friends. Even if the friends don’t immediately turn into deals, they will likely need something down the line, and your business will be the first that comes to mind.

With technology use so widespread, there is no excuse not to be a part of the trend. Shockingly, 52 percent of small businesses do not have a website. Of those with a site, 70 percent have no “call to action” on their page, 68 percent have no contact email visibly on the homepage, and 27 percent don’t even have a phone number. These stats are outrageous. Do not fall into this trap. If your business is not on the web, it is essentially invisible. Social media sites are a great place to start. Use Facebook, Twitter, or Instagram as free marketing platforms, and your new site will receive up to 75 percent more traffic.

Below are 9 other business obstacles commonly faced by entrepreneurs and recommended ways to help you tackle them.

1. Using Repetitive And Ineffective Strategies

If you have ever launched a successful marketing campaign: congratulations, you are one step ahead of the game. Keep in mind that one successful campaign does not equate to a successful business. One of the biggest obstacles business owners face is failing to branch out — even when things stop working. Don’t be afraid to mix up your marketing and communication strategies; in fact, this is one of the best ways to ensure your real estate business’s longevity.

2. Feel Overwhelmed After Making A Mistake

It may sound cliche, but everyone makes mistakes. If you missed out on a business opportunity, skipped a big networking event, or even lost money on a deal: it is okay. The best thing to do is to view each obstacle as a learning opportunity. There is no point dwelling on negative thoughts that could get in the way of new business opportunities. Instead, refresh your perspective and look for ways to improve in the future.

3. Losing Motivation

Are you having a hard time remembering your “why”? Take some time to look for inspiration around you. This could mean researching similar businesses for new ideas or even reflecting on your long term goals to get motivated again. It is not uncommon for business owners to lose motivation now and then, especially if you haven’t landed a deal in a while.

4. Experiencing Tunnel Vision

Don’t forget to celebrate your wins — even the smaller ones. This practice will help you remember to appreciate your business and all that comes with it. Many investors find themselves with tunnel vision now and then, searching for deal after deal. This mindset can be harmful, as it can lead to careless mistakes or even a loss of motivation. If you have been struggling with tunnel vision, it may be time to revisit your goals. A great place to start is learning more about SMART investing goals. This framework will help you plan (and accomplish) business goals promptly.

Want to know more? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at robert@vicleaders.com.au; or call me on 0467 749 378.

Thanks,

Robert