5 Things That Keep Business Owners Up At Night

 

What Keeps You Up At Night

 

Sleepless nights are no stranger to the small business owner. There are some common issues that keep business owners up at night and we hope to provide some simple solutions to help put those issues to bed, so you can rest easy!

1. Overwhelming Workload

Lying down to rest can often be tough, especially when your brain is still whizzing and clicking away, even though you left the office hours ago.

Close the day by checking things off the list and moving unfinished tasks to the next days’ to-do list. Assessing accomplishments and reassigning uncompleted tasks will help you feel a sense of completion at the end of each day and may relieve the overwhelming feeling that you did not get enough done.

2. Lack of Skills

This could be a couple of things: your own lack of skills needed in order to complete all said tasks or the lack of employees with said skills. Consider outsourcing as an immediate fix to such problems – instead of investing the time and energy in educating yourself or your team.

It is easier to find contractors who have the knowledge and put them to work. However, it should be noted that this is more of a temporary, Band-Aid like solution, than a permanent fix! In slower times, always consider adding to your skill set with courses, seminars, etc.

3. Slow Moving Sales

Sales result in profits. The stress of slow moving sales weighs heavily on the mind of a small business owner, especially when it creates a ripple effect on all operations. Alleviate the pressure by ramping up marketing efforts during slow periods and reaching out to loyal clients with great deals and incentives to increase their purchasing habits.

Add these tasks to your daily to-do list, so that you are actively working on them every day.

4. Managing Debt and Paying Creditors

Poorly managed credit/debt is one of the indicators of a struggling or doomed to fail small business. Tackling debt is always easier when you get out in front of it. Be in constant contact with your lenders, keeping them updated and exploring solutions together.

Lenders can help you restructure your debt, increase credit limits and lower interest rates to help manage your businesses finances. Of course, you should involve us in that process with you.

5. Managing Staff

Managing money is hard, but managing people is harder. A solid HR software management system that handles payroll, employee files, scheduling, etc. can help you breathe a little easier and help you catch more of those much-needed ZZZ’s!