A roadblock is a hindrance or inconvenience. It is usually followed by delay or a different course of action. What are business owners to do when faced with roadblocks? Sooner or later it will happen… there is no way around roadblocks in business.
The way we view a roadblock is crucial. J.F. Kennedy once said:
When written in Chinese, the word “crisis” is composed of two characters. One represents danger and the other represents opportunity.
Here are five common roadblocks:
1. Lack of money – we need to invest money to make money. All businesses whether online or offline needs initial capital and ongoing cash. 61 percent of Americans surveyed have either started or thought about starting a business. According to Small Business Administration (SBA), borrowing money to start a business is one of the most common sources of funding for small business owners. And getting funding is not easy because there are many factors to consider. There are over 20 million American businesses that are run by owners without employees and the numbers are growing.
2. Lack of skill – it could be technical, writing or business planning skills. Some skills are necessary for business owners to acquire and some are not. Identifying which skills to hone is important for success.
3. No marketing – all businesses need marketing whether it is online or offline. Without new clients every month, the business is quite dead.
4. Unexpected expenses – machines can break and unexpected expenses occur quite often even outside of the business world. Money allocated for marketing or other expenses may have to be used for the unexpected.
5. Uncertainty – not knowing what you want or what your clients’ want is detrimental to your business. Knowing your clients’ needs could bring huge profits to your business.
Do you face some of the roadblocks listed above? Owning your own business is a dream and making dreams come true takes a lot of determination and persistency. Although having a vision of success is important, we still need to have solutions to overcome roadblocks.
Solutions to common roadblocks:
1. Find creative ways to save money or sell unused things or borrow money (remember to pay back as soon as possible) for your business.
2. Enlist the help of a mentor to help you increase skills. If you need skills on marketing or writing, find a mentor for those areas. None of us can do everything. Some jobs need to be outsourced. The question is, which job should be outsourced? Here is a link to social media and creating a free offer help.
3. Networking, building relationships and collaborating with other business owners can help when you are struggling as a business owner. We get more creative when we seek out other like-minded business owners. They may ask you to guest post or advertise for free on their blog.
How do you overcome roadblocks in your business? Please share your thoughts below.