240: The 10 Problems Every Business Owner has and how to embrace the suck

Mar 13, 2024
Tina Tower Her Empire Builder Show

If you're feeling overwhelmed by the endless challenges of running a business and constantly hitting roadblocks, then you are not alone! Managing marketing, sales, cash flow, team dynamics, and personal energy can leave you feeling exhausted and questioning if entrepreneurship is really for you. Today I am sharing with you the 10 problems that I know every single business owner experiences from time to time so that first of all, you're prepared, and second, that you feel less alone when you're going through them.

Feeling overwhelmed is a rite of passage for business owners. You launch your company with high hopes, only to get slammed by challenges you never anticipated. It's easy to question if you have what it takes to make it. Know that you're not alone in facing hurdles - they come with the territory. This listicle reveals the top 10 problems plaguing entrepreneurs so you feel prepared for the ride ahead.

1. Marketing to New Customers

Acquiring those first few customers when no one knows who you are can feel next to impossible. An evergreen struggle is figuring out how to get your offer in front of its ideal audience when you have zero traction. The irony? Marketing only gets more crucial as your company grows. Continually finding new ways to expose your business to more potential fans never stops being a priority.


2. Improving Sales Skills

You've created an amazing product that solves real needs. But now you must convince prospects to buy-in. Many founders resist 'selling', worrying it seems overly promotional or aggressive. Yet done right, selling serves both parties. When your messaging clearly conveys how you can help, customers welcome the opportunity to purchase. Be willing to sharpen this muscle - your income depends on it.

3. Managing Cash Flow

Watching profit roll in while bank accounts run dry is a hard lesson in business finances. What looks good on paper may not immediately translate to available funds. To dodge chaotic shortfalls, diligently forecast cash flow during slower and busier seasons. Find the threshold where you feel comfortable operating day-to-day. This number will likely grow over time as your company scales.

4. Pushing Past Your Growth Edge

That feeling of being an impostor in uncharted waters is often just a sign you're expanding beyond your comfort zone - aka your growth edge. These make-or-break moments require deciding whether to play it safe or boldly embrace new challenges. Some edges reveal capacities you never knew you had. Others surface hard limits on personal aspirations. Both shape your path ahead.


5. Building Productivity Systems

In the early days, staying on top of tasks feels feasible. But as your business grows, keeping all the plates spinning gets trickier without firm systems in place. Take time to create standardized processes, especially for repetitive activities. It saves mental bandwidth, ensures consistency, and allows for future delegation when you eventually hire help.

6. Delighting Existing Customers

With so much effort spent attracting new buyers, it's easy to overlook those who've already said yes. Yet their lifetime value eclipses one-time sales. Set reminders to check in post-purchase, gather feedback, address concerns quickly, and surprise them with value-adds. This loyalty pays dividends as happy clients refer others.

7. Knowing When and How to Hire

Realising you need more hands on deck but unsure where to start can stall progress. Before posting any job listings, thoughtfully assess which roles deliver the most impact based on current workloads and strengths of your team. Consider whether it makes more sense to train emerging talent or recruit those with experience. Vet candidates thoroughly to confirm alignment with company mission and culture.

8. Leading and Managing Your Team

You've finally brought on your dream staff. But leading a squad requires brand new abilities, like directing multiple priorities and personalities. Management skills won't happen overnight. Reflect on your natural inclinations - are you more motivated by big picture vision or steady execution? Then delegate what drains you to those whose strengths complement your own leadership style.

9. Maintaining Your Energy

Business owners constantly field demands from many directions - staff, customers, projects, and our own ideas that never stop percolating. Before we realise it, we've overextended our time and crossed the fine line from productive to burnt out. As your enterprise grows, consciously prioritise what matters most. Don't let FOMO (fear of missing out) constantly override self-care. Schedule space to recharge.

10. Achieving Business Longevity

The passion that fuels a new venture often flames out within a few years. Long-term success requires moving past a scarcity mindset into trusting your abilities.

Want to hear more about how to embrace the suck? You can find all the details on our podcast Her Empire Builder Show in episode 240: Embracing the Suck - The 10 Problems Every Business Owner Has. Available to stream wherever you get your podcasts! Or click here.

Want to start an online course?

Grab your free guide!

We hate SPAM. We will never sell your information, for any reason.