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    Top 10 Hottest Issues Struggling Business Owners Face Today in 2017
    Top 10 Hottest Issues Struggling Business Owners Face Today in 2017
    Top 10 Hottest Issues Struggling Business Owners Face Today in 2017
    Ebook101 pages1 hour

    Top 10 Hottest Issues Struggling Business Owners Face Today in 2017

    By Peter Adams

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    About this ebook

    Small businesses are a very important part of any economy. In many countries, small businesses form the backbone of the economy. However, there is not always a lot of support from Government for small businesses who struggle with many business issues plus ensuring compliance.

    When you're a small business entrepreneur, it's easy to feel as if the problems your business faces are unique. You're so immersed in your daily duties and issues that you may fail to recognize that your major problems are essentially the same as what the competition is facing.

    In today’s world, the number of businesses starting up is growing by the day. With more company displacing employees, the market has shifted from employment to small business entrepreneurs. The consequence of employees now turning business entrepreneurs comes at a risk mainly through lack of education and management skills. There is no formal training that helps you with business set up, growing your business coupled with exit strategies. This philosophy also applies to established businesses with the lack of training.

    The purpose of this EBook is to highlight the hottest issues facing business entrepreneurs in 2017 plus real practical solutions to help you minimise these issues in your business.

    LanguageEnglish
    PublisherPeter Adams
    Release dateFeb 12, 2017
    ISBN9781370058518
    Top 10 Hottest Issues Struggling Business Owners Face Today in 2017
    Author

    Peter Adams

    I help restaurants/cafes improve profitability/cash flows by strengthening operational and financial efficiencies to become more resilient, build a better future and offer fair rewards to their stakeholders. I am a virtual CFO, Accountant, Business Consultant and Coach helping small to large size organizations achieve their goals with my experience handling finances, accounts, business systems, business processes and many types of business documentation writing. I have over 30 years of business experience, culminating in my current position as one of the top qualified CFOs and Business Managers across all industry sectors.

    Read more from Peter Adams

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      Book preview

      Top 10 Hottest Issues Struggling Business Owners Face Today in 2017 - Peter Adams

      Top 10 Hottest Issues

      Struggling Business Owners

      Face Today

      And how you can resolve these issues

      Author – Peter Adams

      Wealth Vision Mastery Academy Ltd

      Copyright 2017 Peter Adams

      Smashwords Edition

      ISBN: 9781370058518

      Smashwords Edition, License Notes No part of this book (publication) may be reproduced or transmitted in any form or by any means, mechanical or electronic, including photocopying and recording, or by information storage and retrieval system without written permission from the publisher.

      Published by Wealth Vision Mastery Academy. For further information, contact:

      Wealth Vision Mastery Academy Ltd,

      Lincoln, Lincolnshire,

      United Kingdom

      Telephone - +44 704 560 1772

      Email – admin@wealthvisionmasteryacademy.co.uk

      Website - http://wealthvisionacadem.wixsite.com/wealthvisionmastery

      Index

      Introduction

      Issue 1: The Mindset

      Issue 2: Lack of a Business Model

      Issue 3: No Internal Control Systems

      Issue 4: Succession & Exit Planning

      Issue 5: Acquiring and Retaining Customers

      Issue 6: Cash Flow

      Issue 7: Hiring Employees

      Issue 8: Employer and Employee Productivity

      Issue 9: Marketing

      Issue 10: Profitability

      Bonus Issue 1: Impact of Data Breaches and Cyber Fraud

      Special Offer

      About Peter Adams

      Other Titles by Peter Adams

      Connect with Peter Adams

      Introduction

      Small businesses are a very important part of any economy. In many countries, small businesses form the backbone of the economy. However, there is not always a lot of support from Government for small businesses who struggle with many business issues plus ensuring compliance.

      When you're a small business entrepreneur, it's easy to feel as if the problems your business faces are unique. You're so immersed in your daily duties and issues that you may fail to recognize that your major problems are essentially the same as what the competition is facing.

      In today’s world, the number of businesses starting up is growing by the day. With more company displacing employees, the market has shifted from employment to small business entrepreneurs. The consequence of employees now turning business entrepreneurs comes at a risk mainly through lack of education and management skills. There is no formal training that helps you with business set up, growing your business coupled with exit strategies. This philosophy also applies to established businesses with the lack of training.

      Starting a business is a big achievement for many business entrepreneurs but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. These include things like hiring the right people, customers, production, cash flow, building a brand and so on. However, there are some that are unique to small businesses - ones most large companies have grown out of long ago.

      In this environment the small business entrepreneur will have to balance these external factors with the usual challenges for SMEs of remaining relevant and sustainable in a competitive market. No doubt there will be many sleepless nights ahead for most small business entrepreneurs planning the best path for their business and in particular where are 2016’s biggest opportunities for business looking to create value?

      I am not talking about the external factors today. In this report, I shall be looking at the internal issues that face small business entrepreneurs today. I have listed 10 issues (internal) that small business entrepreneurs are facing today.

      Beware of information overload. It gets difficult to find right and effective solutions. It becomes a challenge for a new business to come up with good decisions. However, one easy solution is to look for the authenticity of the data - check sources, writers. Start asking successful businessmen about their experiences. Learn from them.

      As a small business entrepreneur, you know how hard crises are. Your company suddenly stops bringing in revenue. Rules, methods, and routines that you have relied on for so long don’t work anymore. And you, a smart and brave entrepreneur, are desperate. You are on the brink of losing your company but have no idea what to do.

      Don’t be afraid. There are many strategies to help you and your business through these hard times, and today I want to share them with you. 

      Let’s begin……..

      Issue 1: The Mindset

      Mindset is probably the major determinant of success in pretty much every walk of life. In other words, the thinking patterns you habitually adopt largely govern the results you achieve.

      You may not like this issue but it is a common issue that business entrepreneurs face but not necessarily will to face it – Complacency.

      When the going gets tough, a lack of willpower and a lack of accountability causes the not so tough to run away or bury their heads in the sand. Whether it is fear of going on or lack of gumption to be able to, many small business entrepreneurs go into business not fully understanding what they are getting into. A business is more than making something better than someone else. So, when things start to go wrong, in many cases, they are not prepared for it.

      You should have a prepared risk analysis system in place to reduce the impact of any potential risks in your business – both internal and external factors. By having such system in place, this will increase the likelihood of

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