Common Small Business Challenges (with Solutions)
Posted: Sat Jan 18, 2025 6:43 am
a vibrant graphic of hands holding up a hello my name is name tag that says “small business challenges” with sparkles surrounding it
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With this potential fate looming over small business owners, it’s easy to see why people face their first few years of ownership with trepidation. However, many common business problems and challenges are actually fixable if you take a step back, assess your pain points, and rethink your strategy.
In this post, I’ll discuss common challenges that small businesses may face, along with tactical advice about how to fix them.
1. Find the right customer(s).
This first one isn’t just a small business problem. The vietnam phone number material marketers at well-known companies like Apple, Toyota, and McDonald’s don’t just sit around waiting for the leads to come in — even the biggest, most successful companies have people working hard every single day to find new customers.
But, for small businesses, the challenge is even more significant. How can you find customers when you’re not a household name? And, there are so many channels to focus on for acquisition, but how do you know what to prioritize?
In addition, for small businesses, all the little things matter, especially when it comes to customer acquisition. If this is something you’re struggling with, you’re not alone. Even bigger, more trusted brands have trouble navigating this. With new customers, brands/companies cite that with new customers, the chance of closing a sale is just 5-20% (versus a 60-70% chance when selling to an existing customer).
Entrepreneurship Trends Report
Unlock the future of entrepreneurship with this free report from HubSpot and The Hustle.
Download Now: 2024 Entrepreneurship Trends Report
With this potential fate looming over small business owners, it’s easy to see why people face their first few years of ownership with trepidation. However, many common business problems and challenges are actually fixable if you take a step back, assess your pain points, and rethink your strategy.
In this post, I’ll discuss common challenges that small businesses may face, along with tactical advice about how to fix them.
1. Find the right customer(s).
This first one isn’t just a small business problem. The vietnam phone number material marketers at well-known companies like Apple, Toyota, and McDonald’s don’t just sit around waiting for the leads to come in — even the biggest, most successful companies have people working hard every single day to find new customers.
But, for small businesses, the challenge is even more significant. How can you find customers when you’re not a household name? And, there are so many channels to focus on for acquisition, but how do you know what to prioritize?
In addition, for small businesses, all the little things matter, especially when it comes to customer acquisition. If this is something you’re struggling with, you’re not alone. Even bigger, more trusted brands have trouble navigating this. With new customers, brands/companies cite that with new customers, the chance of closing a sale is just 5-20% (versus a 60-70% chance when selling to an existing customer).
Entrepreneurship Trends Report
Unlock the future of entrepreneurship with this free report from HubSpot and The Hustle.