Blackburn Accounting - Roadblocks to Business Success

In your way, there they are Roadblocks, barriers and obstructions, holding you back, stopping you from achieving the success you and your Business deserve!

You may be feeling such obstacles are insurmountable and too difficult to deal with. You are daunted, overwhelmed and even exhausted trying to find answers!

But don’t give up, there are strategies you can adopt to overcome them. You can achieve the success you deserve!

READ on, to learn how you can bypass Roadblocks to achieve your Business Success.

Let’s get started by looking at some possible Roadblocks

Cashflow challenges
Under utilising resources
Lack of confidence
No Marketing Plan
Poor Customer Service
Time

Are these familiar to you?

Yes! Check these 6 Tips 'how to get around them'.

1. Cashflow Challenges:

A barrier for many small Businesses, you find you are robbing Peter to pay Paul, and with no Financial Plan or Strategy you are operating on the edge. Stressful and often nail-biting times.

To overcome this barrier

Simply put, ‘good supplier and customer management will ensure you have a consistent flow of money coming in from sales to be able to pay your bills’. And don’t we all want that?

There are ‘9 Ways to Help get your Cash Flow flowing’! Click on the link......... https://blackburnaccounting.com.au/blog.

2. Under utilising Resources:

This can be both human resources and equipment that are available but not fully utilised or employed efficiently to maximum capacity and capability. Employees lacking training, or without empowerment are wasted resources. Equipment may be in need of upgrade or repair. In this situation, productivity is compromised.

To remove this obstacle

Undertake an audit of resources. Conduct a Staff survey, engage with them, listen and respond. Staff that are heard and feel valued are more satisfied and empowered to produce their best effort and work. Use feedback to match or fix gaps in capabilities and capacity to ensure maximum utilization of human and equipment resources. Resource capacity planning and forecasting are tools to mitigate underutilisation.

3. Lack of Confidence:

A Mindset, afraid of change, fear of uncertainty and afraid of leaving your comfort zone. It can also lead to indecisiveness. These are all obstacles hindering Business development and success. You and your Business suffer.

To move past this roadblock

There is much written and said on this matter, along with readily available professional advice. Developing yourself is a starting point that looks at boosting confidence by learning and practicing various techniques and activities. These are physical and psychological. Scheduling fun in your life, using positive internal dialogue, and adopting a Mentor are examples.

4. No Marketing Plan:

Without a Marketing Plan or an outdated plan, your Business will be stuck at the roadblock. Not keeping abreast of consumer patterns, changed buying and spending habits your Business is stagnant. And if not in tune with advertising formats, technology and social media opportunities you won't go forward. Your competitors will be whizzing past, reaping the rewards and enjoying the benefits of a thriving business.

To go past this barrier

The importance of a Marketing Plan can’t be stressed enough. Develop your Plan, a roadmap that outlines goals, initiatives and strategies you will adopt to ‘sell’ your Business. This helps in attracting new customers and encourages existing ones to come back. It is also a guide for your Team. Adopt various advertising mediums including social media platforms to reach a wider audience.

5. Poor Customer Service:

Poor delivery, products, and service can hinder and damage customer experiences and sales. This roadblock, if not removed, is fatal. Customers keep your Business operating, they are the vehicle for your financial viability.

How to overcome

Start by identifying and investigating the problem (human or product)
Identify recurring issues and develop solutions to remedy
Train your Team in Customer Service Excellence
Encourage and support teamwork
Implement quality assurance measures

6. Time

Never enough time to do everything, spreading yourself thin, don’t delegate or let go!

Managing your time effectively and efficiently is the key to helping you to focus better, be more productive, lower your stress levels and give you more time for work and play.

To get past this roadblock

Develop and adopt a Time Mangement strategy. A framework of prioritizing, planning, productivity and positivity to achieve your goals and bring order to your life.

Steps to take: