It's not uncommon for small businesses to face some growing pains. But, as a small business owner, it's also something you need to keep on your radar.
Too many challenges and conflicts might indicate a few red flags that you should address sooner rather than later.
If you aren't exactly sure what some of the most common red flags are, stay tuned. We're highlighting common small business growing pains and a few tips to avoid them.
1. Poor Communication
Good communication is one of the most important aspects of running a successful business. Focusing on being a better communicator can help you put a lot of fires right from the start.
Here's what you can do to start creating a culture around communication in your workspace.
First, listen to your employees so they feel heard. Also don't let small issues between employees linger. Address them immediately in a calm and open manner. And encourage lots of feedback and communication in the office and with your remote employees too.
If you're unsure about your best approach to communication, try a communication style quiz like this one. You can pass it around the office too as a way to make everyone more aware of their own communication styles as you move forward.
2. Lack of Focus
Do you feel like you're constantly running around taking care of the latest emergency and aren't able to tackle all those things on your to-do list?
You're not alone, this is a common issue small business owners face. It can make work feel like a constant grind without a ton of growth.
What you need to do is learn how to get focused and embrace the concept of deep work. Each week create a list of the 2-3 most important things to tackle, schedule time to complete those tasks and remove distractions. It takes a little time and practice, but you can build your focus muscle.
Also work on having a clear mission and vision for your company. This can help both you and your employees filter out the busy work versus the work that matters to the overall company goals.
3. Doing It All Yourself
This one can actually relate to the growing pain above. If you've got too much on your plate and can't get anything done, then it might be a sign that you need some help.
While lots of small business owners are reluctant to hand over the reigns to others, in most cases it's only going to benefit you. When time consuming tasks are off your to-do list, it frees up the mental space and energy to tackle those bigger items that make an impact.
You can recruit a full-time employee to work with you. If you're worried about your budget try working with an intern or hiring a freelancer to handle a few key tasks.
4. Overlooking Marketing
Marketing is critical to growing a business. But sometimes, marketing activities get stuck on the back burner in favor of dealing with HR issues or configuring your budget.
While all those are important too, the fact of the matter remains you need to sell your products or services to stay afloat. There are lots of small things you or your team can do to help raise your profile in a meaningful way that won't dent your budget.
- Keep connecting with your current customers and encourage them to buy again
- Update and improve your website copy
- Get customer testimonials and show them off
Find a few more marketing strategies for small businesses here.
5. Not Tracking Finances
It's an unfortunate reality, but many small businesses have to shutter because they let their finances spin out of control.
The best thing you can do to avoid this is get a system set up for tracking your finances from the start. There are a ton of apps and digital tools you can use to manage your finances.
These tools cover everything from keeping track of your payroll to automating your bills and generating invoices. Using them will help you know exactly your income and expenses are and where they come from.
Keep Focusing on the What Matters
As you continue to grow your business don't forget about making sure you're protected.
That's especially true once you hire your first employee. In Colorado, workers' comp regulations are strictly enforced, so don't get caught off guard.
Get in touch with Cake today and you can have a quote online in just 2 minutes.
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