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发布于:2017-8-22 16:09:46  访问:107 次 回复:0 篇
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Six Challenges Facing Business People
Six Challenges Facing Business people
Having spent the last few weeks meeting with and chatting to small business owners around Essex, it became clear they all seem to face similar challenges over a day-to-day basis.
When i expected, all of them are time poor where there was a continuing sense from these company owners or directors they ought to be `hands on` and across every element of their business. But, since they told me, they might know about their business but may they want expert support and guidance to ensure their company grows and increases profitability.
Some of the challenges they faced included:
Company is in the middle associated with a business. Without customers as well as the revenue generated then the business becomes merely a good option. One of the main challenges they faced was how to build, retain and maximise their customers?
Personally, the main element to winning start up business and ensuring customer retention offers not merely great products but adding a fantastic customer care experience. A strategy must be produced for ensuring this customer growth and maximizing revenues from existing customers.
Many business people usually are not marketing experts and want strategic advice with regards to having a business positioning, an advertising and marketing plan, a campaign and with the channels they wish to promote their business through.
The process would be to let the business to inform its story in a fashion that enables the business enterprise to develop and create customer engagement. Bringing a seasoned marketer in to the business either in-house or being a consultant to aid develop this tactic makes it possible for the business enterprise owner to concentrate on what performing best.
For most business people you can find simply not enough hours in one day. All owners are stretched for time. Creating more time means sometimes saying no thanks and focussing about what is essential for your success of the business.
This is where company owner often seek external advice from a business mentor or consultant to get these to give attention to what`s critical for the creation of the company.
Financial Management
It really is imperative to get a small or medium-sized business to handle their cashflow effectively but may handling the P&L seemed to be the third or fourth `order of the day` for a few business people.
Getting good financial advice from a consultant who takes time to analyse business performance, looks at aged debtors, analyses client profitability and puts effective financial planning measures in place mitigates the chance of the company engaging in financial troubles.
Business Planning seemed to be a bit of an afterthought for many from the business owners I spoke with, these folks were working more `on the fly`. Annual Planning should take up a minimum of four months prior to the end from the financial year and should start with a proper annual budget, understanding the profitability of each client/customer, growth opportunities, business development planning plus an investigation overheads needed to service those clients/customers, market and grow the business enterprise, generate a great customer experience along with delivering a sustainable profit.
Successful companies create wealth and also be their business since they understand how to create a culture where sustainable profitability is a given.
Many companies aren`t across all of the processes involved in in operation and so the challenge is to increase the risk for processes involved in in operation simpler. That`s where another consultant or expert support can prove highly beneficial.
Failure to control processes such as sales, marketing, business development, building customer loyalty, operational management, HR and employee development can result in businesses failing. Being stretched across business functions is not the best way for business people to develop their business.
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