I'm looking for my next business problem to solve. I would like to hear from business experts who can tell me what problems they face and solutions they've looked for but have been unable to find.
If you would like to share, I would be happy to book a Clarity call with you.
What exactly are you looking to accomplish? What type of business segment are you in? do you have any capital? Do you have experience in said field? What makes you want to start "this" type of business. Let me know~
The biggest pain point my clients express, though they don't always realize that they're identifying them as "pain points," is having too many ideas, concepts, iterations and functions they want to do "someday," but being unable to tell what comes next.
One of best values I provide to my clients is helping them prioritize and sequence their plans. I've met with countless entrepreneurs and inventors who want to build something, create a logo, have a full-service web site with a membership plan, do a multi-platform advertising push, manufacture their invention, get it on the shelves of every store in America and hire 100 people to make it all happen. ...and they have no clue where to start.
Let's chat more about this and about how I help my clients identify important milestones, set a timeline and prioritize what comes next.
The financial burden that insurance , licensing and regulations put on my profit margin.
In the state I am in, Illinois, these three factors cut into profit so much that businesses are fleeing the state in droves.
For small business, it is even worse because most of the time profit margins are very slim and insurance can consume a huge chunk of your operating budget and drive up the price of goods to cover it.
But, insurance is a necessary evil- people are lawsuit happy.
Frankly speaking, I have never run a business, but I was an HR in the companies whose biggest pain points were as follows:
1. Insufficient Capital: That said, it is important to constantly look for capital to fuel the business. As the business owner it is up to you to identify potential financing options. Whether it is a small business loan, line of credit, angel investment, or venture capital you always need to have a few available.
2. Cash Flow: Maintaining a consistent cash flow is difficult at all times of a small businesses’ lifetime. From debt to late payments there are plenty of causes for cash flow problems. One of the most common reasons for cash flow issues is delayed payments. This allows you to focus more on scaling your business and less on chasing down deadbeat clients.
3. Employee Turnover: People typically think businesses are successful because of their products and services. What makes a business tremendously successful is the people that run it. Employee turnover can be an awfully expensive pain point for small businesses.
4. Marketing on a Budget: There are plenty of ways to market your business while on a budget.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
