The Top Three Pains of Being a Business Owner

No one said running a business is easy all the time. In fact, sometimes it can be pretty hard going and from time to time it makes you wonder why you started up in the first place. I meet lots of business owners, either through meetings with my clients or at networking events, and although they are in a variety of different industries,

 they share similar pains when running their businesses

they share similar pains when running their businesses

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Whether it’s issues with money, health, staff, customers or simply not having enough hours in the day, the conversations are frequently the same and I reassure business owners that the solutions are achievable. They don’t need to keep going through the same pains and you don’t need to be going through the same pains either.

 

These are the top three pains many business owners experience:

Time can be a Business Owner’s Pain

Too much time? Not enough time? We all have the same number of hours in the day, however the difference between a successful business and a business that fails is who makes the best use of the time available.

Setting tasks to be completed in a certain length of time can be helpful. Whether it’s on an hourly, weekly or monthly basis, your time can be measured and monitored to get the best use of the minutes. Do you have a member of staff who drifts along? Could you help them manage their time better?

What about you, the business owner? Do you have enough time to do the things you want to do? Do you have enough time to see friends and family? Are you always in a rush or late for appointments? Do you skip breakfast, or lunch, or dinner? Managing your time and creating good habits can be a great starting point to deal with other business pains.

Money can be a Business Owner’s Pain

It’s said if you’re not making money you don’t have a business and for some business owners this can be a real pain to deal with and overcome. You might have a great product or service. You might deliver your great product or service every day of the week. But if you don’t send your customer the invoice and receive their payment then it will all have been for nothing. Your business bills can’t be paid with nothing and if you can’t pay your bills then your suppliers can’t pay their bills and so the negative cycle continues.

To break this cycle, it can be a good idea to streamline your processes. Can you automatically issue an invoice and email it to your customer so there is no excuse it got lost in the post? You can take payments by cash, card, PayPal or BACS which are much quicker than the somewhat antiquated method of receiving a cheque in the post and finding a local branch to bank it. Making sure you’re in control of your cashflow and money cycles will avoid financial pain as a business owner.

People can be a Business Owner’s Pain

Even the nicest people can sometimes be a pain for business owners. Just when you think you’ve done everything right, they throw you a curve ball and upset the carefully balanced apple cart. Maybe they demand an unrealistic deadline or turnaround. Maybe they win the lottery and don’t need you anymore. Maybe a member of staff announces they’re quitting. There are lots of things that can happen and will happen when people are involved and if you are having any pains please contact me and I will help.

Typical people pains can occur with customers, suppliers and staff, or occasionally perhaps you feel as though you’re causing pains within your own business. With customers, pain can occur either if you’re gaining too many customers too fast and are experiencing growing pains, or you’re losing customers and that triggers money pains. Gaining and retaining a happy customer base is essential for a pain-free business. Looking after your staff, their day to day needs and career progression opportunities, is essential for a pain-free business.

How can I help?

I specialise in dealing with all types of business pains, from time pains, money pains, people pains and many other pains business owners encounter from time to time. I make things easy for business owners to relax and focus on the success of their businesses. To find out more please contact me, either by emailing rachael@rachaelchiverton.co.uk, or on 07756 772950 and I will be happy to take your pain away.

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