Small Companies experience all of the same operational obstacles as large companies while also facing many additional unique challenges. After working with many Small Business owners over the years and having them list their major issues, most of the problems fell into one of four groups. A lack of:
TIME
CAPITAL
EXPOSURE
LABOR
Time may be the most common issue, even if the Small Business owner doesn't realize it is. Small Business owners often wear multiple hats in their company. Besides being the go to Innovator they will also be Accountant, HR, Engineer, Advertiser, Customer Service etc. This need to play a role in everything can come from true necessity brought on by one of the other listed limitations but can also often be self inflicted by the owner themselves. Their desire to make their vision work and fear of having someone's mistakes potentially ruin their opportunity can also turn them into micro-managers.
Small Business owners often begin financing their vision with their own personal saving and then reach out to friends and family for added help (Seed Capital). For many people this will still not be enough to properly carry out their Business Plan. Even a profitable company from the start will likely face difficult scaling up and growing at the desired rate. With the current economic environment it has become much harder for Small Businesses, especially start-ups, to go to the traditional sources for loans and thus Small Business owners are often pursuing their vision on shoe string budgets.
No Business Plan is complete without a Marketing / Advertising section. The best company or idea that lacks exposure will never make it in the long run.
Many Small Business owners believe they can just set-up a Google Adwords account and buy some internet space, maybe run a radio commercial or print a few coupons for the Daily News paper. Often this leads to a lack of production and an inability to gauge what methods worked best, if any. A planned and coordinated campaign with analytics and "tweaks as necessary" is the only appropriate method.
In today's Economy we are unfortunately faced with a high level of Unemployment. On the surface this would look to bode well for a Small Business owner, providing them with a strong pool of candidates to choose from but unfortunately it is not so easy. While there are many under or unemployed people, they do not all necessarily have the skill-set needed to become a contributing employee and teammate and due to time constraints many Small Business cannot appropriately train new employees and need candidates that can "hit the ground running"
This is where VEROS can help your Small Business. We understand your desire and passion for your company, remember we are business owners too, and promise to treat your clients, projects and opportunities as if they were our own. We will work to help you execute on your Business Plan with an emphasis on increasing your company's profitability and efficiency.