It would be nice if running our businesses would always go without a hitch, but that is simply not the reality. When you run a company, you are always going to run into problems from time to time. That is okay! As long as you are aware of them and know how to go about dealing with them.
With that in mind, let’s take a look at some of the most common business problems you should be aware of in 2021:
At first glance, unmotivated employees may not seem like the biggest problem in business, but actually, if your employees have no intrinsic motivation that could be a big problem. Why? Because employees who are unmotivated are less likely to be creative, productive, or loyal to your business which means you will struggle to beat the competition at pretty much every turn.
What can you do about it? First, make sure that you have a really happy and positive work culture, and that every employee is engaged in work that is meaningful for them in some way. Then, make sure that employees are adequately rewarded for a job well done. If you can then also offer benefits they won’t be able to resist, you will immediately start to see motivation levels improve.
Non-paying clients can seriously jeopardize the viability of your business by putting a real dent in your cash flow. When clients don’t pay up that could mean that you don’t have enough money for vital supplies or even your employees’ salaries – it is not a good position to be in.
What can you do about it? Start by creating very clear contracts that layout when a client is expected to pay and what fees they will be subject to if they do not. Then, download a package like this accurate hospital contract management software to ensure that you are able to track non-payers effectively and recoup the costs. As a last resort, speak to a legal professional about your debt collection options.
No matter how hard you try or what you do, you are always going to come across customers who are unhappy with one or more aspects of your business and they have the potential to really bring your business down in the eyes of others.
What can you do about it? When you receive a complaint or a bad review, keep calm. Take it all in and consider if it is valid. Acknowledge the complaint with the customer and tell them what you will do to make it right, or if you don’t agree, lay out your reasons why as neutrally as possible. It’s fine to dispute a badly written review but do so neutrally and without spite or going off the deep end because that will only make you look worse to anyone who is reading.
Being aware of these three very common business problems will help you to run a successful business overall even when things get tough.
P.S. This post contains affiliate links.