1. Not In-Touch with Customers Through a Deep Dialogue
The most important thing a business owner is supposed to master is the relationship with the customers. The understanding of your customers is the key to your success, so without it your business won’t last long. An entrepreneur must walk in the shoes of their customers to get a better feel of what their needs are or what they like.
To get in touch with your customers, think about their user experience, rather than what you hope they experience. Check out your website during peak hours—is the load time too slow or the website unresponsive? If so, it might be time to upgrade to a better web hosting service. Are customers even able to find your website when they search products or services in their area? If not, then now is the time to contact an SEO specialist or get in touch with a digital marketing agency to help you get your website and your business onto your customer’s radar.
No matter what, your customers are your most valuable asset. Without valuable relationships there basically is no business. If you feel like you have no connection with your customers and you’re worried your business is on the rocks, start with some real dialogue.
2. Lack of Unique Value

3. Failure to Communicate
Communication is huge! Whether it’s a professional student tutoring service, an e-commerce retailer a famous personal injury law firm, any business owner will tell you that communication is the foundation of success. Without a smooth flow of communication between coworkers, managers, and to the audience, a business cannot survive. It is imperative that a business is run on clear and concise communication. Small businesses are much more fragile than large corporations making strong communication even more important.
Many business owners work too hard on branding, advertisements and design they forget about communicating a clear message. It is pretty straight forward on how to communicate better, it starts with being truly engaged in every conversation. This way you can listen and then use their language right back at them. Here are some helpful pointers when communicating in the work place:
● Be clear with each message you try and convey
● Be concise (keep your messages short and sweet)
● Be compelling (use works to persuade your team or customers to take the actions you want them to)
4. Leadership Breakdown
Sometimes it can be difficult to be the CEO, manager, and co-worker. Owning a small business can often times cause breakdown in leadership roles due to high stress or lack of roles. Leadership breakdown is also caused by poor decision making; not being intentional with your customers, not having purpose behind your motives, and not managing your business in a organized fashion. Not everyone was born to be the perfect leader but if this is your business you poured everything into you may want to be more careful with your decision making. Your solution to leadership breakdown is to realize this small business you started is your baby. If you have leadership issues or anger problems, seek help quick or find someone to run things for you.
5. Budgeting
At the end of the day it is always about what is left in those cash registers. The next most common thing that happens to small business is a failure to manage their money or achieve revenue. If you do not have a strict budget plan or have someone who is managing your money responsibly your business could be in jeopardy. Startups require quick movement in sales without spending ton money on the business itself. The best advice is to think and move quickly.
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