Even though no business is immune to disaster, small businesses are often more prone to struggling with these disasters than large and established companies. Institutions such as Google, Tesla, and Coca-Cola can overcome any issues they encounter without thinking about it. They have enough personnel to deal with problems even before they morph into something much worse.
But small businesses do not have that luxury. The smaller staff size and lower profits mean that when disaster strikes, it demands everyone’s attention. Setbacks can throw productivity off for the day, but your small business can overcome them.
IT Issues
There’s no doubt your business relies on IT in some form or another, whether it’s storing client data or interacting with customers. However, as much as technology has streamlined business operations, it’s still prone to failures. These failures often occur at the worst times.
You can overcome these issues by investing in reliable IT support to help your business keep running correctly. These services can cover everything from cybersecurity issues to server mishaps, along with a host of other problems that will strike at the very moment they are needed most. Technology has done a lot for business, and even though it works most of the time, you should still be ready for when it doesn’t.
No Awareness
Your small business does not have the mighty marketing machine pushing it that worldwide companies have, which is why it can be a challenge to build awareness and attract new customers to your company.
You can overcome this by focusing your efforts on as many marketing platforms as possible. This includes everything from social media to Google Ads, and even including more traditional or unique ways to spread awareness. While it may feel like a significant investment at first, the new business you will get from these marketing efforts will pay off, allowing you to grow your company with a consistent line of repeat customers.
The Right People
When your business evolves from a side hustle you focus on in your spare bedroom to something more substantial and more ‘official’, you will need to bring in employees to help carry the workload. Early on, you just want to employ people. You need the bodies to fill the office space.
However, hiring just anybody does not always work. The early hires are crucial to developing the right company culture, which will make your company a great place to work. These hires should have goals that align with your plans for the business, and if they do not, then there’s no point in applying the sunk-cost fallacy. If you want your business to survive past its first year, then hiring the right people dedicated to building this business is crucial.
David vs. Goliath
As a small business, you feel up against the world more often than not. It can be a challenge to deal with failures, mistakes, and freak accidents without panicking that your whole enterprise will collapse. However, if you know what to do when these issues rear their unsightly head, then you can overcome them with ease and keep on pushing towards success.
