Challenges & Opportunities We Face as a Small Business
Running a small business is a unique endeavor. Small business owners face many challenges … and also some exceptional opportunities. This blog post expands on some of the challenges and opportunities of running a small business.
Small Business Challenges
All businesses face adversity, that’s a fact. Small businesses, however, have a rather distinctive list of opponents:
- Remaining passionate
- Growth vs. quality of work
- The economy
Loving Your Business
Small business owners are no strangers to the daily work grind. But when you’re dreading the day to come instead of waking up excited to head to the job of your dreams, you may have a work-life balance problem. Remember, you started this business for a reason: You love the industry. But it’s important to dedicate time to yourself away from work to prevent burnout.
Growing the Right Way
Sometimes, small business owners are faced with a choice: growth or quality of work. It can be difficult to turn down new opportunities when they’d bring some money in the door. It’s important, however, to remember why you started your business in the first place. Don’t sacrifice your quality of work for a client that doesn’t understand your priorities.
You wouldn’t be a small business owner if you didn’t have customers. It can be tough to stay positive when business is slow. Before you despair, try pinpointing exactly what the issue is: Is your product or service solving your consumers’ pain points? Is there anything you can do to better serve your consumers? How can you market your product or service in a new and engaging way?
Opportunities for Small Businesses
Despite the challenges, owning a small business presents a unique set of opportunities that larger business owners don’t have as much access to. These opportunities include:
- You’re your own boss
- Minimal experience required to get started
- Inexpensive to begin
You’re in Control
This is perhaps the biggest opportunity for small business owners. When you decide to open up your own business, you’re your own boss. Your business can be anything you want it to be. It’s pretty hard to think of another way to have this type of freedom.
You Don’t Need a PhD
You don’t need to go back to school or have a certain number of years under your belt. To open your own business, all you need to get started is a good idea.
Limited Startup Expenses
Along similar lines, it doesn’t cost much of anything to start your own business. In Michigan, it costs just $50 to claim your own limited liability company. Apart from that, a desire to succeed and a strong sense of dedication will suffice to give you a great head start.
PointA Specializes in Small Business Marketing
Our small business marketing services include packages in local listings management, website development and hosting, SEO, display ads and social media advertising and PPC. If any of those services sound like they’d be meaningful to discuss, give us a call at 231.882.1100.
Subscribe to Our Blog
Subscribe to the PointA blog for more information. We'll send you newsletters, blog posts, tips and so much more from time to time.