During my time in recruitment and as a Business Coach there are a few things that my clients and potential clients have in common.
- All of my clients want to be better. Improve efficacy, process, procedures, set targets or communication to name a few.
- After my clients have given full disclosure, they ask, almost embarrassed, if I have seen issues like these before. The answer is nearly always yes.
There are no new problems. It is the solutions I love to concentrate on.
To this end I have compiled a list of the most common problems that I find in business. Not all businesses have all of these; some have more, some less.
See if you recognise your business issues in this list?
- Future Uncertainty: A lot of the time, business owners know the direction that they want to take the company. However they have no plan on how to get there. Failure to strategically plan means that they can get lost in the fog. I have rarely seen a business owner knowing what success looks like for them. Business owners who do not relate to their staff the companies direction, leads to uncertainty, mistrust, confusion, and a lack of communication.
- Training: In all aspects of business it is vital to improve. Lack of training for sales people, outside of product training, is rare or non-existent. Helping marketers improve their skills in an ever changing digital world would keep the business ahead of the curve, but is lacking. As the FD says to the MD, “What if we spend money on training, and these people leave us?” and the MD replies, “What if we don’t, and they stay!”
- Empowerment: “Delegation is the key”!!! Delegation is critical for efficiency, and development of staff. Too many directors micro manage their business, and as a result the direction of the business falters.
- Clear Goals: A lack of planning, setting markers and clear, achievable goals for a business, makes staff despondent, unhappy and restless. A set of concise business goals that encapsulate all members of your team will keep everyone on track, and leads to celebration when achieved. K.P.I’s are vital for business growth.
- Triple down on what you’re good at: The amount of businesses formed on a certain skill set is immeasurable. Marketers starting marketing companies, Engineers starting engineering companies. This makes sense. However, an engineer (or any other profession) being effective on sales, finance, marketing, HR etc. is a rarity. Capitalise on your skills, and hire in the talent you need.
- Recruitment: “It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.”- Steve Jobs. ‘Nuff said.
- Technology: Never trust a sales person who tells you their product is “future proof”. Technology is moving so fast these days, and your business needs to keep informed. GDPR, Cyber-Crime, Law, H.R., Telecoms, all vital to your business running effectively.
- Marketing: As Gary Vee says, “All businesses these days are media companies”. Business is more and more being done in the digital sphere. Direct communication with your current and potential clients is vital. LinkedIn, Twitter, Instagram, Facebook etc. are all methods of communication with your clients. If you are not using these, start using these.
- Employee performance: Employees who lack motivation, talent, experience and the customer in mind, will be detrimental to your business. An understanding of your employee’s drivers will help your businesses immeasurably. Your businesses reputation is the oxygen you need for growth. If you have a toxic member of your team (even if they are your top performer) I would advise two choices a) change the person or b) change the person.
- Communication: One of the most common problems in businesses. Communication should always have the receiver in mind. Focus on the receiver, will they understand the point I’m making. A lot of businesses frustrations are built up because of poor communication, or a complete lack of same.
As before the list can go on and on. These are the most common reasons I have come across. I am regularly dealing with, from director level down, on some or all of these. The 10 challenges are not in any order, and are the most common I have seen.
I would advise having a meeting with your entire team and finding out where your business stands on these issues.
Should you have any comments to make about these, I’d love to hear from you.