5 Common Problems Faced by Business Owner

Becoming a business owner does require extraordinary skills and intentions. In business, we will face many risks and problems. Here are common problems faced by business owners:

Business Owner

1. Hard for time

The difficulty of time is often complained by businessmen, especially those who have just started to build their business. The average business owner who has just started a business is the CEO. Meanwhile, on average, those who start a business may also still have the status of an employee in a company. On the one hand, the main job demands attention, while the side business also needs to be taken care of.

2. Lack of confidence

Many novice businessmen initially lack confidence. This is natural, because they feel that their business is still small. Many entrepreneurs lack the confidence to admit that they own a business. This usually happens when you are just starting a business and the business is still small or not growing. As a result of this lack of confidence, then comes the feeling of fear of failure. In fact, sometimes the biggest capital to be successful is self-confidence.

3. Difficulty finding the right employees

Being a business owner, sometimes we are required to be able to delegate tasks to other people. Finding the right employee or assistant is also a separate problem for business owner. The right employees here, apart from sufficient and adequate skills, are also commensurate wages.

4. Confused about determining marketing channels

Marketing is one aspect of business that is very important, and must be considered carefully. It’s like a business without marketing, it will definitely hinder sales. How can people recognize our business, if we do not promote it. If we have a product that can help them solve a problem, what if we don’t introduce it? Marketing is indeed an important process. Unfortunately, there are still many business owners who don’t know how marketing can be effective in capturing potential customers.

5. Difficulty determining the price

The selling price is also usually a problem for business owners, especially those who are just starting their business. Especially if the product has quite a lot of competitors in the market. The existence of a price war is a separate homework for business owners. Usually the confusion is how cheap we can provide a price, so that potential customers are interested in buying, but without endangering margins, especially cash flow.