Solving the Ten Most Demanding Small Business Challenges

Before we start reviewing the “Ten Most Demanding Small Business Challenges”, let’s review the top three National Reasons why Businesses fail!

  1. Poor Cash Flow – Too much going out and Not Enough coming in
  2. Ineffective Advertising & General Marketing Efforts –  Unable to solve poor advertising efforts
  3. Denial – Not admitting there is something wrong with the business

Now, the “Ten Most Demanding Small Business Challenges”

No. 10 – How Much Money is Sufficient in Business?

Most start-up businesses do not have sufficient funds.  It is recommended by business consultants to have twice as much of what is determined as start-up expenses.  Always have some financial reserves to inject in the business . . . a business should not be in the red.

No. 9 – Is the Bottom Line Really that Important?

As was stated in No. 10, a business should not be in the red at anytime.  The Bottom Line is important to watch carefully for any clues of potential business difficulties.

Bussiness Planning

Business plans bring success

Why write a business plan? 

Imagine departing for an unknown vacation destination without the use of a road map. This association is similar to a business person who is attempting to either start or operate an existing business without any idea of how to develop the business.

What is a business plan? 

A business plan is a written narrative with financial and marketing projections. The plan describes the goals of a new or existing business and how the goals will be accomplished within a certain period of time.