Last Updated on December 5, 2022 by Adnan Ali
Did you know over 600,000 small businesses open their doors for the first time every year? However, only about half of these businesses will survive past 5 years. This is due in large part to the lack of poor planning and having an adaptable strategy. Many small businesses fall into the trap of trying to make a square peg fit into a round hole. What I mean by this is they create a pseudo plan that is not usually detailed or in-depth and do not adapt or change when the plan doesn’t seem to be working.
Starting a new business is hard work and often deal with the fact that you are underfunded and overworked. This is is the life of starting a new business. It’s a grind. Anyone that tells you their business was a success overnight is not being truthful or honest.
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Yes, there are ways to work smarter to help you achieve more of your goals but like I said when you are first starting it’s a grind to gain traction within your market. Unless you are a well-funded startup the duties of a small business owner are endless from being your own custodian, IT specialist, human resource, tax account, manager, salesperson. These are just some of the duties that I can think of off the top of my head I am sure they are many more.
Growing a business is tough for any owner, let alone for a small company. Lucky for you there are resources that can found by the stroke of your fingers. For instance, here is an in-depth article on SEO marketing and how it can help boost your business.
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You should get the picture now of what a small business owner goes through daily. If you are ready to take the plunge and open your own company then head my suggestion if budget permitting finds people to do the work you are not strong at. For example, I am a small business owner of a boutique digital marketing agency. I am an expert when it comes to marketing through search engine optimization, email, or pay-per-click. Where I’m lacking is in the administration part of the business and I’m not the greatest salesperson. I am have gotten better at these tasks as time has gone on but if I had the funds I would have hired so I could have avoided those learning pains.
Business is hard enough so if you have the money don’t put all the stress on you. If you don’t have enough money I’m going to be honest its going to be un uphill battle. I’m not saying you can’t succeed but things will take longer and you will have work twice a hard.
Some people just want to do things themselves and I fall into this category and honestly why I started offering consulting services through my company. So if you must do the work yourself make sure you take the time to really understand what you are doing and if your plan isn’t working be willing to adapt and try new things.