Small Business Success Starts With Solutions

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In addition, you may land a large client that makes you feel hopeful for the future, but it then becomes difficult to keep up with their needs. Because of this, a small business challenge is being able to scale and managing the side effects that come with scaling.

Here’s How to Fix It:
Unfortunately, there’s no perfect answer here. But I will say this: What it comes down to is not obsessing over every detail but the right details. Closely monitoring product perfection, for example, might not be as important as doing so over customer service. It‘s better to put your fears aside and launch a product that isn’t perfect because you can always update and improve it. After all, once your products are in the hands of your customers, you can learn much more quickly what‘s working and what isn’t.

Obsessing over customer service, however, is worth the extra effort. Amazon CEO Jeff Bezos puts it well in his 2016 letter to shareholders: “There are many ways to center a business. You can be competitor-focused, product-focused, technology-focused, business model-focused, and there are more. But in my view, obsessive customer focus is by far the most protective of Day 1 vitality.”

(“Day 1” is what he refers to as a period of growth united kingdom phone number material and innovation, whereas “Day 2” is stasis, irrelevance, and slow demise.)

While these are just a few of the many business challenges facing small businesses daily, there are many others. With the proper planning and strategy, many of them can be planned for and mitigated.

Running a small business is no easy feat. And while all the problems can feel daunting, they are far from insurmountable. By proactively identifying key obstacles and employing strategic solutions, small business owners (yes, even you) can significantly improve their chances of not only surviving but thriving.

My final words of advice? Don’t hesitate to seek advice, leverage technology, and continuously refine your approach to not only being a good business owner but a good leader and collaborator. With the right mindset and tools, you’ll overcome the statistics, build a strong foundation for your business, and set yourself on the path to long-term success.