Business administration related:
Business administration related challenges
As much as we would like to help our SME clients, there are some challenges should you put most of your time and energy into.
First thing is to build your own company culture. This culture comes from your vision, purpose and value. This is important and it has to be you - no one else could help you.
Next, you need to build your team - by finding, hiring and retaining people that are right for you. This is a very critical success factor if your business can have a chance to be a successful one.
There are challenges that come from within and outside your company. Communication and demonstrating your leadership are great skills to tackle the challenges within the company; while the impact of business resulting from the maco business environment relies on business owners to stay on top of business-relevant trends, events and regulation changes.
The progress of finding, keeping and growing your customers should always be one of your key business activities. Without keeping on track of your target customers, your business will start to detach itself from meeting the demands. For example, if your target customers are looking for information online, you should be there to provide what they need.
Finally, often being ignored as well, as a business owner, you need to look after your own physical and mental health. Running a business is a lifetime marathon. You need to run in a way that allows you to run your business for a lifetime.
- Building your team - finding, hiring and retaining the right people
- Building your culture
- Regulatory & legal challenges
- Communication between founders & stakeholders
- Management & leadership
- Maintain your physical and mental health
- The ability to transition to a digital-first world/ ineffective web presence/ social media
- Impact of business resulting from macro business environment (such as Brexit, Pandemic, Wars)
- Delighting your customers
- Embracing technology
- Late payments
Business administration related challenges
As much as we would like to help our SME clients, there are some challenges should you put most of your time and energy into.
First thing is to build your own company culture. This culture comes from your vision, purpose and value. This is important and it has to be you - no one else could help you.
Next, you need to build your team - by finding, hiring and retaining people that are right for you. This is a very critical success factor if your business can have a chance to be a successful one.
There are challenges that come from within and outside your company. Communication and demonstrating your leadership are great skills to tackle the challenges within the company; while the impact of business resulting from the maco business environment relies on business owners to stay on top of business-relevant trends, events and regulation changes.
The progress of finding, keeping and growing your customers should always be one of your key business activities. Without keeping on track of your target customers, your business will start to detach itself from meeting the demands. For example, if your target customers are looking for information online, you should be there to provide what they need.
Finally, often being ignored as well, as a business owner, you need to look after your own physical and mental health. Running a business is a lifetime marathon. You need to run in a way that allows you to run your business for a lifetime.