How Small Businesses Can Resolve Growth Challenges

growth challenges

In recent years, small businesses come up against a lot of different challenges. Research has shown that approximately 20% of small businesses fail by the end of their first year. Are you looking for tactical advice to survive the first few years of business operations? If the answer is yes, then you have come to the right place. Here’s how you can resolve common growth challenges:

Growth Challenge A: Budget Constraints

A significant number of small businesses choose to close their doors because their ‘bigger’ competitors have more financial resources to spend on business growth and development. Today, you do not have to face the same fate as others had before. Thanks to technology, your small business has more opportunities to grow. The process of building and maintaining multiple professional websites is now affordable and hassle-free. You can even develop apps to foster business growth.

Growth Challenge B: Quality of Customer Service

With so many social media tools available today, you can easily make significant enhancements to your customer service practices. You can attract new customers and stay in touch existing ones with greater ease. In addition, you should provide helpful information, promotions, and sales on popular social media sites to stay in contact with clients. You need to provide your loyal followers with the opportunity to schedule appointments at their convenience. Doing it online is an option most customers love! If you want to get customer feedback, using online questionnaires and surveys is the way to go as well.

Growth Challenge C: Meetings and Collaborations

Sometimes, the high expenses of time spent away from the office and travel can cause business owners to turn down meeting opportunities. Thanks to teleconference solutions, you are no longer limited to conducting meetings with employees and potential clients locally. You can rest assured that you also do not need to purchase special bridge line equipment or telephone systems. There are web conferencing tools out there that allow you to seamlessly and affordably connect with employees and clients located all over the world.

Another thing you want to look at is collaborative tools found in Office 365, which enable real-time co-authoring. When a group collaborates on a document, everyone can see changes happening in real time. This saves time and increases overall productivity. Collaboration is usually a simple three-step process:

  • You save the document to a shared folder so that others can work inside it.
  • You invite others to edit it with you.
  • You get your group to open and work in the document in Word 2016 or above.

Need technical assistance during ongoing collaboration projects? Don’t worry, there are plenty of providers specializing in Office 365 migration and support.

Growth Challenge D: Front Desk Management

With managed voice solutions, you no longer need to hire a receptionist just to be stationed at the front of your office, answering your landline during operational hours. Small business owners can stay connected without being tied to a physical office. This means that your staff does not need to be seated inside the office, managing call after call. There are virtual phone lines, VoIP, and smartphones providing business owners with ways to stay connected on the go. That’s why it is time to bid farewell to traditional landlines.