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Challenges facing small enterprises

Discussion in 'General Business' started by Bizz_Guru, Mar 7, 2021.

  1. #1
    1 - Competition (48%)
    The rise of a competitive market is an external issue considered to be one of the most important. Observation: Its effect is to slow down growth.

    2 - The transformation and complexity of digital (40%)
    The rise of the use of new technology.

    Observation: This puts an end to the improvement of access to new knowledge.

    3 - Growth management (47%)
    This growth rate proves difficult to manage in a successful manner, even if planned.

    Observation: If the growth is improved, it has the effect of not going to the critical stages of the growth cycle.



    4 - Human Services (55%)
    Increases in teamwork and performance will be produced under pressure.

    Observation: The search, acquisition and acquisition of quality resources are not always available to keep up with changes in development.
    SEMrush


    5 - Financial Assistance (64%)
    An increase in operating costs. The increase in demand forces you to provide more resources for the acquisition and management of paid accounts.

    Note: This has the effect of slowing down the flow of funds and sometimes makes it difficult to raise funds.
     
    Bizz_Guru, Mar 7, 2021 IP
    SEMrush
  2. mmerlinn

    mmerlinn Prominent Member

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    #2
    If competition is an issue for any business, then that business is targeting the wrong customers. Target the right customers and competition becomes a non-issue. In fact, by targeting the right customers, what few competitors that a business may have will send THEIR customers to you.

    How do I know? Because I target customers that my competitors cannot service with their business model. As a result, those "competitors" literally call me and tell me to call the customer that called them. Or, they tell their customers to call me.

    Example, I made over $500 in sales last Thursday to my "competitor's" customers. And I am in the process of filling a $10,000 order because my competitors cannot fill it.
     
    mmerlinn, Mar 7, 2021 IP
  3. jrbiz

    jrbiz Acclaimed Member

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    #3
    Can you advise as to where the percentages you cite came from? A survey or research study? BTW, these are pretty much challenges that may be faced by any size business, small, medium, or large.
     
    jrbiz, Mar 8, 2021 IP
  4. Bizz_Guru

    Bizz_Guru Greenhorn

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    #4
    The cited percentages came from a research study.
    It is true that those challenges can be face by any size business, but it makes it more difficult for a small enterprise to grow
     
    Bizz_Guru, Mar 8, 2021 IP
  5. mmerlinn

    mmerlinn Prominent Member

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    #5
    Apparently that research "study" was done by someone gazing at their navel, then forming an OPINION based on how much lint they found. If that is not the case, why are you AFRAID to post the PROOF here?
     
    mmerlinn, Mar 8, 2021 IP
  6. Bizz_Guru

    Bizz_Guru Greenhorn

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    #6
    Let's take for example brands of designer wears like, Gucci, Versace, Prada and lots more. Don't you think there will be competition among them to be the best brand
     
    Bizz_Guru, Mar 8, 2021 IP
  7. mmerlinn

    mmerlinn Prominent Member

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    #7
    Competition to be the best brand is NOT the same as competition in the marketplace.
     
    mmerlinn, Mar 8, 2021 IP
  8. jaguar34

    jaguar34 Notable Member

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    #8
    If you owns the shop then Location of shop is everything that will matter the amount of sales you will make over time.
     
    jaguar34, Mar 9, 2021 IP
  9. mmerlinn

    mmerlinn Prominent Member

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    #9
    NONSENSE!!!

    I own my own shop in the U.S. and I can move it ANYWHERE in the U.S. without measurably changing the volume of my sales. Why? Because I TARGET a SPECIFIC demographic and THEY DO NOT CARE WHERE I AM LOCATED as long as I can fulfill their needs.
     
    mmerlinn, Mar 9, 2021 IP
  10. fencerstars

    fencerstars Greenhorn

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    #10
    Innovation is one factor that will help businesses survive. One strategy is study again the market and consumers behavior.
     
    fencerstars, Mar 25, 2021 IP
  11. sarahk

    sarahk iTamer Staff

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    #11
    That all depends on the business you're in.

    Doing haircuts - moving to a new salon can mean starting over.
    Selling cakes - moving your bakery may impact on your ability to deliver fresh cakes to your repeat customers, and you have to build up your clientele again
    Selling more durable items - you can probably move and rely on couriers to deliver.

    While it may be smart to advise a budding entrepreneur to get a product/service that will allow you to operate from anywhere in the world that's not always feasible. Following your passion is more important. Utilising your skills is more important.

    Our family business could be relocated but we've spent 11 years building up a local reputation etc. Relocating makes no sense. It would probably take years to completely move it too. A friend owns an insulation business, he could move within the city but leaving town altogether wouldn't be possible, or sensible, and he certainly couldn't move internationally.
     
    sarahk, Mar 25, 2021 IP