Small business owners face challenges

Many people dream of the life of creating and running a small business that was created by their own knowledge and time. Knowing that you are the boss and working hard to get that title. It is not an easy thing to conquer, but it can be done. There are going to be many obstacles in your way. Some you can predict and see long before they arrive, and many others that seem to come after you and crush your dreams of success. Knowing how to overcome these challenges is a key element that will shape you, and your business, towards future success.

Building the Foundation

The foundation of your business is everything. It’s what you continue to build your empire on and if you don’t have a good foundation, it’s not easy to continue building up. Knowing how to build a good foundation is something that is learned over time and will not immediately occur to you. You have to work at it and learn that it’s not about quantity, it’s about quality. Many people already know this, but many business owners just starting out seem to leave this key factor out of the equation. They want to produce as much as they can, as fast as they can, so they can take their business out into the world and build it as fast as possible. This won’t work. You may be able to move faster, but this is not a good thing. The product or service you are offering is not of the quality that it should be, which means that you lose a lot of potential customers.

Motivation

When you are in the building stages of your business, you will not see success very quickly. After a while, you start to lose the burning desire and motivation that you had when you started building. Many times this discourages young entrepreneurs from giving up or slowing down. They’re not putting in the effort they did when they started because they don’t have the motivation to create the energy and enthusiasm. Passion is an amazing emotion that can do wonders if you use it the right way. If you are losing motivation, you can easily watch a speech about being successful and never giving up, or an audio talking about someone’s success and the struggles they had to go through. You’ll also want to make sure you keep your dreams close to you at all times. Save photos, videos, or ANYTHING that reminds you of what you’re working for. This could be that new car, your family, that beautiful house, etc. Just be sure to constantly remind yourself of the things that gave you the passion to start your journey to success.

Failure

Simply put, failure is the number one component that keeps most small business owners from going above and beyond or trying harder. It’s the easiest thing to get and the hardest thing to beat. Failure can take away your burning desire for success and make you rethink everything you thought about your business, as well as the strategies you’ve been using. This ties directly into the motivational part of success.

“When you want to be successful as much as you want to breathe, then you will be successful”

This is a beautiful line that says more about success than much else. When you struggle to breathe and take in air, that’s the ONLY thing you’re thinking about. You’re not thinking about tonight’s game, or what you’re going to do tomorrow, or what your friends are going to do. All you’re thinking about is breathing. That’s your only goal, and you put all the energy you didn’t even know you had into trying to get that breath of air. When you want to be so successful, then you will be successful. This means that even though you are struggling and going through failure, you cannot quit because it is not an option. You only have one goal, and you will give everything you are made of until you reach that goal. That is success.

lack of organization

When you are searching through a container of documents that consists of 9 different topics and they are all assimilated together, what are the chances that you will find the document you are looking for without having to throw the whole container on the ground? When you’re running a small business, especially in the early stages, it’s crucial that you keep everything organized. This will help you clean up any mass that may occur and will also save you a great deal of time that you can use to improve your business. You will also be able to look at your business as a whole and see if there is anything you can reform and improve your business.

Competition

Competition is what crushes many small businesses that don’t compare to all the companies that have been in business for countless years and have the experience under their belt. What you have to remember is that they started with nothing. Every business starts from the bottom. You want to look at big companies and competitors in a positive light. See what they did that made them successful and then replicate it! You already have a similar business that had to go through the same thing you are going through, so use it to your advantage. You can reduce their learning curve and also avoid the mistakes they made. Use your failure, for your success.