Are There Practical Solutions for Small Business Problems?
Business problems are often either overlooked or ignored, but most small business owners cannot afford to do either. Even though it might not be the immediate preference of anyone to actively go looking for problems to solve, that is exactly what might be appropriate and necessary. In many cases, finding small business finance problems can prove to be more difficult than solving them. Here are some of the most frequent obstacles that will appear in typical small businesses:
- Ineffective business development (to increase sales)
- Poor business communications
- Lack of sufficient commercial financing
- Little or no contingency business planning
- Business ethics difficulties
- Excessive operating expenses
- Commercial banking concerns
- Absence of negotiating strategies
- Business teamwork ineffectiveness
While this might seem like a lengthy list, it is more like a tip of the iceberg situation in that these are the most generalized examples of small business problems. Each company is also likely to have at least several unique challenges in addition to the broader issues just mentioned. But it probably cannot be emphasized enough that these problems must be found before they can be solved. Someone has to take the responsibility for actively searching for and finding business obstacles. Only then can the process of problem-solving begin.
The short answer to the question posed by the title of this article is yes. Some of the most practical small business solutions are likely to have a positive impact involving several of the problem areas noted previously. Three such examples of realistic and practical solutions are the following:
- Improving the effectiveness of business proposal writing
- Increased use of business negotiating
- Adding cost-effectiveness as a routine business decision criteria
Evaluating whether something is cost-effective or not can particularly prove to be helpful in many ways. Peter Drucker, one of the most influential management thinkers, described the importance of effectiveness this way:
- “Efficiency is doing things right; effectiveness is doing the right things.”
That particular sentiment by Peter Drucker essentially expresses the point of this entire article. In the end, finding and solving small business problems does require doing the right things.