How To Overcome Hurdles When Operating A Small Business

There are many hurdles one will face when starting and operating a small business. Failure to overcome these hurdles will lead many businesses astray and, unfortunately, to their early graves. Fortunately, the web and many tech-entrepreneurs have created solutions to these common problems in small business, solutions that allows a business owner to break through the barriers so they can operate without a looming feeling of doom above their heads. The following article details a few of those hurdles and the solutions available so they never become a problem:

1. PAYMENT PROCESSING

Payment processing is one of the areas that catch many small business owners off their guard. Major credit card companies have a stranglehold on payment processing equipment and often lock small businesses into handing over a cut of every transaction. Couple in the need for flexibility in our modern, connected world and this area of business can become a true hassle.
The solution: virtual terminal credit card processing is a great way for small businesses to accept credit card payments because it removes the physical barrier of payments. This technology allows you to process a transaction within a web browser or by using a special mobile card reader, which can be tethered to many common handhelds and tablets. Also, pricing for this option is inexpensive compared to the traditional options which should have many small business owners jumping for joy since they will keep a larger amount of the income.

2. PRODUCTIVITY AND FOCUS
Owning and operating a small business puts the ultimate power in your hands; it allows you to make the hard decisions that lead to incredible gains and rewards. However, it’s very easy to become consumed by your work if you’re a perfectionist that too frequently suffers from project creep or, on the flip side, not being able to focus on the important tasks at hand in order to get the job done.
The solution: Learn to let go and allow other members of your team to pick up where your skills hit an end. Don’t overreach your abilities; focus on what’s important for the daily operation than rolling the dice with long-term speculation. Utilising time saving and collaboration software like Share point or Power BI can also be a great boost to your business.

3. ONLINE MARKET REACH
A website, social media, content strategy, and reputation management are all elements of small business that will have its owners crawling up the wall. It’s a hefty amount of tasks to be taken on which can have tremendous drawbacks when it comes to having the ability to stay flexible with work and enough time to chase loftier goals versus the micromanagement of the online operations.
The solution: Small business owners should approach the web with open arms but with a mindset that they’re not the ones to control every aspect of their presence. Web development should be handed over to those that understand the best practices and needed items to have a successful website. Likewise, individuals should be brought on to manage the social media presence and monitor the brands reputation; a dedicated individual (or team) will keep the brand present within the online market all-the-while the owner can focus on making the big deals and big wins.

CONCLUSION
There are, no doubt, many hurdles in the way if you’re taking the plunge into entrepreneurship. Fortunately, you have access to the web and its expansive set of opportunities to reduce the stress and frustration brought on from these minor annoyances. Embrace technology, education, and foresight and your small business will not only survive the ups and downs but thrive in the marketplace.

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Created on Aug 10th 2019 06:20. Viewed 500 times.

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