What are the biggest challenges facing small businesses today?

[Flower]

The problems that small business experience are lack of capital, high competition and fast changing market environment.

Cash flow is another big challenge and another challenge is to find the right people and also dealing with the latest technology.

Some of the effective strategies that I found useful are revenue diversification and digital marketing.

 

[Nomad]

lack of capital, high competition and fast changing market

These are certainly challenges small businesses are facing today but in my opinion the major challenge is related to lack of knowledge and skills to manage and operate business. These days people are so desperate to start a business that they start without any marketing plan and without any research.

 

[Shawn Gossman]

Lack of strategy and unrealistic expectations are my picks.

I'm getting ready to start a family of business directories. They're not link directories, they're more than that. But in order for me to be successful at this, I have to have multiple strategies in place.

I have a business and exit strategy. I have a marketing and advertising strategy. I already have a target audience. Having that audience before you launch is so essential.

And lastly, you have to have realistic expectations.

Most forum owners fail because of unrealistic expectations. They want this thriving big board in less than a year and then fall on their face when reality sets in and they learn that it takes years to grow that big and years to make a living from it.

I see it so much.

 

[Teegold]

Lack of strategy and unrealistic expectations are my picks.

I'm getting ready to start a family of business directories. They're not link directories, they're more than that. But in order for me to be successful at this, I have to have multiple strategies in place.

I have a business and exit strategy. I have a marketing and advertising strategy. I already have a target audience. Having that audience before you launch is so essential.

And lastly, you have to have realistic expectations.

Most forum owners fail because of unrealistic expectations. They want this thriving big board in less than a year and then fall on their face when reality sets in and they learn that it takes years to grow that big and years to make a living from it.

I see it so much.

The realistic expectations part is very important. People go into a business and be expecting to start raking in money immediately, forgetting that it takes time and consistent effort.