What are the major headaches of starting and growing your business?
Let’s be real, starting a business is not all roses and dandelions. There is a lot of hard work and stressful days. But what out of all things involved in starting a business brings the most stress to people? Perhaps if you can identify this, you can take steps towards reducing this stress. Let’s have a look at some of the major headaches when starting a business.
It is fair to say that we don’t know everything. So when starting a business it is very likely that we will need to use a new piece of hardware or software that we are not familiar with. If we are not properly trained in using this technology we might get a little annoyed when it behaves in an unexpected way. And even more annoyed when we can’t do something that we want to.
How do we help mediate these issues? Well the obvious answer is proper training. It might not be something that you have factored into your plan when starting a business. This is vital, as these technologies could play pivotal roles in the day-to-day running of your business. Inefficiencies in using the technology will cause delays. These small delays might not seem like much but a little delay here and a little delay there can add up to serious business inefficiencies. This means less time to worry about the other things that matter in your company.
This can all be alleviated by planning in a little extra time to make sure you have sufficient training on the technologies that you are not familiar with. A little time early on can lead to huge savings later down the line.
Not enough sales prospects
So you have a product, you have a beautiful website, you have your sales pitch ready. But no one is visiting your website or getting in contact. This is not a good feeling and can cause a lot of stress and anxiety. You have just spent a lot of time getting to the position where you feel like you have a great product offering and nothing is happening. This could cause you to go into marketing or cold calling overload. Spending late nights in the office or at your computer trying to find prospects and encourage people to visit your site.
Sometimes we get too excited about starting a business and it’s all systems go trying to get to the point when you can launch. When we are in all systems go mode it is very easy to make decision after decision without giving the reasoning a second thought. There is always going to be a lot to do when starting a business but sometimes the quickest and best way to do it is by taking a little longer to think about it. Plan a strategy for how you are going to overcome the hurdles that you face. Set targets for how you are going to get to where you want to be. Step-by-step, inch-by-inch. Effective planning is the best way to meet your goals.
There is nothing that will get the stress levels up like having a huge amount of expenditure in a new business. Especially if you are trying to run it on a shoestring budget. If we are working to tight deadlines we have all made decisions to spend more in order to help meet those deadlines. Time is money after all. But if money then becomes time do we really win at all? Probably not. It is so easy to see something that has a small perceived cost and say “just buy it.”
I have been there and I am sure many people can empathise with this attitude. Several little costs can add up to a big cost very quickly. It is always worth getting a handle on costs early on so they don't start skyrocketing.
Budgeting absolutely needs to be an area where you pay attention to in the early stages of starting a business. Understand what you need to operate your business, create your budget, and stick to it. Sure there should always be some room to manoeuvre as it is likely that there will be something that you have missed. However, you can even budget an amount for that. By creating this plan early on, you know how much you are going to spend and therefore how much you need to make to cover your costs and make a profit. This is really simplifying your accounting processes but it really does not need to be complicated.
This is not only true for your physical wellbeing but also true for your business. If you are getting headaches when starting and growing a business it is likely that your business is hurting too. By spending a little bit more time planning the actions you want to take, you can avoid these headaches and therefore avoid hurting your business. Planning equals less headaches – it is that simple!