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发布于:2017-8-22 14:24:34  访问:1639 次 回复:0 篇
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Six Challenges Facing Business People
Six Challenges Facing Business Owners
Having spent the last few weeks meeting with and chatting to small businesses around Essex, it became clear they all seem to face similar challenges over a day-to-day basis.
As I expected, they all are time poor and there was a continuous sense readily available company owners or directors they ought to be `hands on` and across every facet of their business. But, since they told me, they may know exactly about their business but may they want expert support and guidance to ensure their company grows and increases profitability.
A number of the challenges they faced included:
Company is in the middle of any business. Without customers and also the revenue generated then the business becomes merely a good option. One of many challenges they faced was how to get, retain and maximise their clients?
For me personally, the key to winning new company and ensuring customer retention offers not just great products or services but adding an excellent customer service experience. A method needs to be produced for ensuring this customer growth and maximizing revenues from existing customers.
Many business owners are not marketing experts and need strategic advice when it comes to having a business positioning, an advertising and marketing plan, an offer and taking into consideration the channels they wish to promote their business through.
The task is always to encourage the business to share with its story in a manner that enables the business to develop and build customer engagement. Bringing an experienced marketer to the business either in-house or like a consultant to aid develop this strategy enables the company owner to pay attention to what performing best.
For a lot of companies you will find not enough hours in a day. All owners are stretched for time. Making more time means sometimes saying no and focussing about what is essential for that success from the business.
This is when company owner often seek external advice from the business mentor or consultant to obtain them to give attention to what`s crucial for the development of the company.
Financial Management
It really is imperative for any small or medium-sized business to control their cashflow effectively but sometimes handling the P&L seemed to be the third or fourth `order with the day` for some business owners.
Receiving targeted financial advice from your consultant who takes time to analyse business performance, looks at aged debtors, analyses client profitability and puts effective financial planning measures set up mitigates the risk of the business enterprise getting into financial troubles.
Business Planning appeared to be a bit of an afterthought for a few from the business owners I spoken with, these were working more `on the fly`. Annual Planning should start a at least 4 months prior to the end from the financial year and should begin with a formal annual budget, knowing the profitability of each and every client/customer, growth opportunities, business development planning plus an investigation overheads needed to service those clients/customers, market and grow the business, develop a great customer experience along with delivering a sustainable profit margin.
Successful business owners build a fortune and also be their business simply because they understand how to create a culture where sustainable profitability can be a given.
Many business people usually are not across all of the processes involved in in operation so the challenge is to increase the risk for processes involved with running a business simpler. This is where an outside consultant or expert support can show highly beneficial.
Failure to control processes such as sales, marketing, business development, building customer loyalty, operational management, HR and employee development can lead to businesses failing. Being stretched across business functions is not the easiest way for companies to build up their business.
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