Starting and running a business is an incredibly exciting venture. However, if we are being completely honest, the path to success is often paved with a few bumps along the way. There are a number of barriers to running a business that will inevitably come up. The difference now is that you have our blog in your arsenal. You no longer have to see these moments as barriers … They are now opportunities for growth!
Let’s explore the most common barriers to running a business and look at how you can change the narrative whenever you encounter them!
1. Refusing to delegate work.
Running a business means that you are wearing multiple hats all at the same time. You aren’t just the MD and Founder. You’re in charge of everything from finance to marketing, sales, operations and company morale. All of these aspects ultimately fall on your desk!
The important thing to remember in these scenarios is that you have the power to delegate work and there is absolutely no shame in doing that! Try to outsource these tasks to those who specialise in these areas. The truth is that they will complete these tasks with the keen eye of a specialist which means accessing exceptional speed and efficiency! This also means that you can now focus your attention on several aspects involved in running a business.
Remember that in order to make money, you need to spend money. Investing in outsourced help will be the smartest business move you make - trust us!
VA's (Virtual Assistants) are not only becoming a highly sought after profession but are quickly proving to be a corporate asset. Many VA's are multi-talented and have a wide range of skills that can be leveraged to your benefit. Lean on their skills and knowledge and you will witness smoother processes like never before!
Another great way to get some extra time back is to automate some of your tasks - Check out my article on some tasks that I have automated myself. All you have to do is click here!
2. You don’t know what your next step is.
Or perhaps you just have no idea where to even begin?!
There are a number of barriers to running a business and feeling a little lost along the way is part of the process! So, if you’re not sure where to start, or how to jumpstart your business, then this specific point is perfect for you.
Below are a few tried-and-tested options you can look at when you’re feeling a little stuck:
- Hire a Business Coach. There are MANY excellent business coaches out there that can help you navigate the ins and outs of running a business. Try to find someone that specialises in your specific industry so that they can customise their approach to address your particular needs with regards to both you and your business.
As a quick note, always make sure to check out their testimonials and references!
- Enrol in a Business Course. Whether it is a Certificate, Diploma or Short Course, the reality is that getting additional certifications will not only keep you up to date on current industry insights but provide your business with remarkable accreditation! These courses will also open the doors to excess information and resources that these teachings can only access.
- Go to Seminars. Depending on where you are located, you will most likely have several excellent seminars/workshops that you can attend in your area. If not, you can participate in many of the incredible, reputable virtual seminars currently on offer!
- Find yourself a Mentor. Many of the world’s most successful business owners have all attested much of their success to having an exceptional mentor. Not only have these individuals walked the very same path as you, but they essentially have a cheat sheet to success that you can leverage and duplicate yourself!
3. You’re too proud to ask for help.
This one is a significant barrier to running a business and something that many of us are guilty of - whether it’s happening on a conscious or subconscious level.
It’s easy as human beings to assume that we know it all, especially when leading an entire company and establishing our presence! That being said, not only do you NOT know everything, you run the risk of losing your company if you pretend that you do know everything. If you want to grow, you need additional guidance, and there is absolutely nothing wrong with that.
So, swallow that pride and ask for some assistance. No one will judge you, and if they do, you don't want help from them anyway. Find people you can connect with and lean on throughout your career - again; this can be in the form of a business coach or mentor.
4. Not knowing if your product is the right fit.
Sure, you are getting sales, but is your product actually hitting the mark? Is it addressing a pain point that your target audience currently has? Is there a way you can increase customer satisfaction? All of these questions can easily be answered if you turn to your greatest resource: your customers!
Execute many surveys, get feedback, organise focus groups and let your customers tell you precisely what you want! Remember that there is always room for improvement or elements that you may not have thought of before, so take their insights seriously! Don’t let a lack of customer insights become one of your significant barriers to running your business.
5. A lack of processes.
Whether you’re a small startup company or a major monopoly, the reality is that all businesses will benefit from various stringent processes being put in place. Without these steps, your organisation runs the risk of absolute chaos. This will put pressure on your team and will result in avoidable errors being made.
Disorganisation is one of many barriers to running a business, and yet it doesn’t have to be!
Simply put, you cannot grow without proper processes in place. Think about it, would you really want to increase your workload and continue to fumble through it with no safety nets?
Take time out to set up processes so that your business can run smoothly and effectively. That being said, surprises do come up that might threaten to throw your operations into a bit of a spin, but that isn’t the norm. Having contingency plans will also help with this!
6. A lack of focus.
Ah yes! As entrepreneurs, we tend to have this optimistic "Let's Do This" attitude! Suddenly, we’re hyped up on all the exciting ideas that we constantly have popping in our heads! We’re energised, positive and ready to make an impact! However, this so-called "Ohh Shiny Object Syndrome" is actually a double-edged sword.
If you focus on too many things at once, you won't be able to finish a lot of the projects you are attempting to complete because you will be distracted by a new idea halfway through.
The best thing to do is remain focused on one area/idea at a time. Take the time to develop it, create it and do it well. Only then should you move on to your next idea. I, too, am the kind of person that has all sorts of ideas in my head, believe me, so I have my "Ideas" book ready to action once other tasks are complete. This ensures that I do not shift my focus until I have finished what I am working on right now.
So which of these steps are you going to put into action? Hopefully, all of them! The idea here is to implement as many of these points as possible. They will actively help you break through all of those barriers to running a business! Success is on the other side, and it’s waiting for you to claim it!
Are you ready?