One of the great joys of setting up your own business is the feeling that at last “I’m in chargeâ€. It’s exhilarating, it’s exciting and life-enhancing. It is all of these things but it can soon change as a whole series of pressures and challenges close in and can cause worry and create pressure on you. Here are some of the ways you can handle this.
- Government red tape and intrusion is a necessary but frustrating experience. At times they somehow never leave you alone to create what your best at, which is creating value and wealth for you, employees and the country as a whole. Well there now plenty of apps that can help in managing this for you. Try some of them out and see how you benefit.
- Of course most important is winning quality business. There’s no alternative with this one but to get out there and be pro-active with telephone calls, newsletters, marketing events and the use of social media.
- Maintaining profitability is a worry, particularly as competition threatens your business and costs increase. It happens to all of us and it’s worth looking at everything again. So are there better and more efficient ways of doing things.
- So many people who work for smaller enterprises much prefer the work environment compared with large and bureaucratic companies. As the owner, it is easy to think that staff are not as committed but good people who add value to the company are like gold dust and are important to keep. They are natural stayers but they do need to feel appreciated.
- The bank may not be overly helpful and may cause sleepless nights with their demands but today they are not the only providers. In particular peer to peer lenders such as Funding Circle and crowd-funders such as Kickstarters can be a great help. There a number of new interesting ways of financing.
- Technology is a two-edged sword. The tools of technology can be so helpful in the management of the business but they can also be infuriating as they change and bring in new tools and you have to get up to date on them.
These pressures are not nice and there are plenty of other pressures but looking for ways to overcome the challenges can not only resolve the pressures but can also lead to better performance.
Kenneth Andrew
Executive Coach
If I can help call me on 077104 88282 or email me at andrewkenneth@mac.com.
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