Tips from TAP – 6 business challenges

Consider some of the following challenges faced by business owners as they grow their business.

  1. Time Management: as the business grows prioritizing and organization becomes more important than ever. Who has more than 24 hours in a day?
  2.  Budgets or lack of!! Hard to get financing without a financial snapshot of where the business is planning to go.
  3. Cash Flow – balancing the money coming in with the money going out!!
  4. Advertising on a small budget! Social media has helped many a business get off the ground inexpensively!!
  5. Limited Resources in terms of both people and capital. Banks don’t always take small business seriously which can sometimes make expansion difficult.
  6. Timely and effective communication. Do you prefer face to face, phone calls, texts of e-mails?

Are you a business owner? What are some of the challenges you have faced as you have started or expanded your business?

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