What are the challenges for entrepreneurs or small business managers?

2019 presents numerous challenges for startup founders and small business owners.

Many, undoubtedly! But we cannot fall into despair or discouragement. At least not because of reading this article… Here, I will try to provide a small compendium of the problems that arise in the daily life of small business entrepreneurs when trying to get their ventures off the ground. But not in a negative way — with a focus instead on facing them and finding solutions.

Obviously, society changes over the years, and businesses were not run the same way in 2000 as in 2010 or as they will be in 2020. Different needs from clients, different needs from employees, and also different needs from executives.

You can read a lot in books or magazines about methods and techniques to deal with everyday business problems. Let’s learn from them! And learn from technology. Major technological advances help us become more agile in our tasks and communications. Let’s find ways we can help ourselves using it.

What problems might an entrepreneur face when pursuing their dream?

1. 1. The business must be profitable. If not… what’s the point? Many companies fail before reaching 2 years. So let’s put all our effort into thinking from the start why my company will succeed. Do you have a product/service that is truly good and offers value to your future clients?
      I’m not talking about becoming a billionaire in 15 months and buying the football club of your dreams from a sheikh, or George Clooney’s Greek island, or tickets for a trip to Mars. That would be amazing, but it’s reality only for the 20 or 30 people who had a brilliant idea and executed it flawlessly.
      I’m talking about a profitable business that can support its founder and employees. And for that, you need to think about what you will sell. Which brings us to the next point.

1. 1. Your product or service must be excellent. Is it different from what’s already available? It must be high-quality and distinctive. Otherwise, you’ll end up competing on price, a field where you won’t always win. It’s better to bet on the great value your product provides. And if you think it’s amazing, protect it. Don’t let it happen like the recent Big Mac case, where Burger King made a clever but aggressive move against McDonald’s. Check the link for details.

1. 1. Human Resources. How to build a great team? One of the biggest challenges in small businesses is being surrounded by a strong team. How do you choose the right people to join you on this journey? It’s better to have a trustworthy team that works together and rows in the same direction. At Dos Setenta, we especially like this video showing how our team should be to achieve maximum efficiency:
      

1. 1. Finding talent. This is another major challenge. Talent is abundant… but knowledge? That’s where the problems arise! According to a study by IESE, 72% of Spanish companies struggle to find employees for the positions they offer. One key reason is that the labor market evolves quickly, but the education system does not. As a result, certain skills are in demand that universities or training centers do not provide. My personal experience is similar. In an online marketing agency like ours, I receive hundreds of CVs from “junior” candidates who only have theoretical knowledge of many of the tasks we perform daily. What is taught in master’s programs or specialization courses? It surprises me. I focus on other skills that I consider differentiating, and most importantly… hiring based on values. The rest can be taught.

1. 1. Continuous learning is necessary. The world changes very fast. Are you up-to-date with your sector’s news? Do you try to learn something new in every client meeting to improve your work or your entrepreneurial skills? If your answer is no, you’re wasting time and missing opportunities to improve yourself and offer new value to clients. At Dos Setenta, we always stay current, reading both offline and online, gathering insights that make us all better. Do you know Feedly? Add your best knowledge sources there and keep up with everything they publish.

1. 1. Technology. Does it help or overwhelm us? Technology is designed to help us be more efficient. Use it. Find tools that automate processes or make tasks much easier. One common issue for companies is that they haven’t completed their digital transformation. Many aspects remain outdated. With some clients, this is exactly what we focus on raising awareness about today.

1. 1. Your website – does it represent you well? Having a well-positioned website is crucial. It’s often the first impression of your company: Will potential clients find it attractive and modern? Are your products and services clearly explained? Is it focused on acquiring clients? And in terms of Google, is it fast and well-ranked? This is critical to attract more visitors. Want us to take a quick look and suggest improvements? We offer a free audit!

1. 1. Hyperconnectivity and digital disconnection. Smartphones have changed how we communicate. In the workplace, they improve efficiency and make communication with clients and employees smoother. But they can also have negative effects. One common complaint from employees is that rest periods aren’t restful because work emails or WhatsApp notifications keep coming. For community managers, having clients’ social media on their phones often means receiving messages or comments at all hours. Companies like Telefónica have enforced the right to digital disconnection to protect employee rest. At Dos Setenta, we discuss a similar idea in this article: the mindset shift companies need.

1. 1. Handling criticism. How to face it? The internet has become the perfect punching bag. Review platforms accept everything — true or false. And they disclaim responsibility. It’s your word (as a business owner) against theirs (as a client). And we all know the client is “always right.” What can be done? Many clients opt for the easy path: “let’s remove ourselves from it. What does it bring me?” That’s a mistake. Having a profile on Tripadvisor, Google My Business, etc., allows you to control what’s said about you and improves your local SEO. Imagine your competitor publishing a profile in your name and saying whatever they want — you couldn’t do anything!

1. 1. Feeling fulfilled and happy at work: For me, this is the most important. There are good days and bad days, but knowing you’re not going to the “slaughterhouse” when you climb the metro stairs or close your parked car… that’s gold. It’s a fundamental ingredient for success: being motivated to face the day and achieve what you’ve set out to do.

Many points have emerged in this article. If you identify other challenges in everyday business life, I would be happy to read them and expand the article together. The challenges mentioned here in February 2019 likely won’t be the same in 2025 — so we need to pay close attention from now on!