How To Manage Your Toughest Challenges As A Small Business Owner
Small business owners have certainly faced a lot of challenges in the past year. The COVID-19 pandemic created a lot of uncertainty for business owners. Many businesses had to close their buildings or send employees home to work remotely. If you are a business owner with children, you faced the challenges of having children at home with you. You had to shift your environment so you could help them with online school, continue running your business, and maybe incorporate new technology to re-invent your company or brand. In other words, you came to realize that you have superpowers. You faced those challenges head-on and survived.
We did some research on what the toughest challenges are that various types of small business owners face. Then we looked at ways that we can manage those challenges effectively. Just as we all have learned how to handle the difficulties that COVID-19 created in our lives and businesses, we can handle just about anything!
#1 Challenge – Getting And Keeping Your Ideal Clients
Every business goes through seasons where clients come in steadily and times where they don’t. This is especially true with health and wellness entrepreneurs. It’s important to know that it’s nothing personal, in most cases. Clients may come and go, depending on what their needs are at the moment. For health and wellness entrepreneurs, you may serve clients who are on the path to improving their health. When things are going well in a person’s life, they are better equipped emotionally to focus on their health. However, in times of stress, their healthy lifestyle changes may fall to the side. Don’t give up on those clients that fall to the side, as they will most likely come back again once they remember how much better they felt when they made health their priority.
The solution to this challenge is to try to maintain a full client base. As a client takes a break or stops your services altogether, encourage them to provide a review and show your appreciation when they refer someone to you. Keep a list of potential clients, such as your email list, and offer an incentive once in a while to encourage clients to return to benefit their health and wellness. You don’t want to put all of your eggs in one basket, as the saying goes. Counting on one or two high-paying clients can make or break your business if and when they decide to move on. So know your niche and make sure you are reaching out to those clients. Always have a list of potential clients on hand, and continue to engage with your followers on social media and your email list.
#2 Challenge – Hiring And Keeping Staff
As your small business grows, you may need to take on a few team members to help with various aspects of your business. Small business owners often face difficulty in finding qualified staff, especially if it is a specialty service. And once you find skilled people to work with you, they don’t always stay forever.
While it can be a challenge to find the right help, you cannot do it all yourself. A simple solution to this problem may be to outsource your day-to-day tasks to a Virtual Assistant (VA). A VA is not an employee, but an Independent Contractor. A VA will take care of the tasks that you don’t enjoy, or don’t have time to do yourself. Many VA’s specialize in certain administrative tasks, such as Email Management, Calendar and Scheduling Management, Social Media Management, Content Management, and Project Management.
#3 Challenge – Maintaining Your Passion And Sanity
Small business owners often find out that running a business requires tasks that they don’t enjoy doing. They may have to do so many business management duties that they miss doing the “fun” things that made them want to start the business. They can begin to lose their passion and motivation.
One solution is to outsource what you can to an online business manager (OBM). An OBM can take on managing the backend of your business, leaving the “fun work” for you! Self-care is crucial for you to keep your sanity. If you work too many hours, you will have fatigue and burnout, impacting the energy you put into your business and clients. You may be tempted to avoid taking time off because you worry your business will stall in your absence or something will go wrong. You deserve to get the rest you need and take time away to recharge.
In conclusion, whatever challenges you are facing in your business may be unique to you. However, you are not alone. Find a support system, whether it is family, friends, an OBM, or a business coach. Take time to take care of yourself. Develop your skills and work toward your goals. You will feel a sense of accomplishment as your business grows.
What is the biggest challenge you are currently having as a small business owner? Do you need help accomplishing this challenge?