Business

problems and
ways to solve
them
Introduction

Entrepreneurs frequently encounter va

rious difficulties, while they are
starting a business.
The problems can differ based on the
sector, geographical area, and the
unique characteristics of the enterpris
e.
1. Lack of funds
The issue: Limited financial resources
can hinder the development of a
business.
Solution: Explore various sources of
funding. For instanse: personal savings,
borrowing, securing venture capital
funding or even just start with little
money.
2. Competition and
market relations
Problem: Challenges in identifying a specific
target audience or distinguishing from
competitors.
Solution: Conduct a thorough market
analysis to understand the needs and prefe
rences of customers. Consistently collect cu
stomer feedback. Create a distinctive offeri
ng and customize marketing plans to efficie
ntly reach specific groups of people.
3. Mktg & Sales

Issue: Limited financial resources for

advertising and difficulties in
generating customer leads.
Solution: Focus on cost-effective
marketing strategies like content
marketing and social media. Invest in a
well-designed website, CRM systems
and sales training to improve customer
acquisition and retention.
4. Scaling and Growth

Problems:
• Growing the company without compromising on quality.
• Preparing for expansion and effectively handling
difficulties associated with growth.
• Finding new markets or expanding the range of
products/services.
4. Scaling and Growth

Solution:
To strategically plan for growth, set con
crete goals, improve operational effe
ctiveness, and allocate funds for infra
structure and technological advance
ments. Ensure that your business mo
del can expand and adapt successfull
y. Continuously monitor financials
and adjust strategies as needed.
5. Risk management and un
certainty
Issues:
• Difficulty in recognizing and reducing
potential threats to a business.
• Creating backup strategies for unexpected
events
• Efficiently handling risks associated with
finances and operations.
5. Risk management an
d uncertainty
Solution:
Perform periodic risk evaluations,
develop backup strategies, and obtain
suitable insurance policies. Get
guidance on risk management by
consulting business advisors or
mentors who have relevant
experience.
6. Team Dynamics and
management
Problems:
• Challenges in hiring, retaining, and managing skilled employees.
• Establishing a strong organizational culture and resolving conflicts
within the team.
Solution:
Thoroughly evaluate prospective team members, provide attractive
compensation packages, and establish a constructive work
environment. Implement effective leadership and
communication techniques to preserve team unity.
7. Time Management and
Work-Life Balance
Issues:
Being overwhelmed and struggling to find a balance between professional and
personal commitments. And juggling multiple responsibilities and assignments.
Solution:
Assign higher priority to tasks, delegate responsibilities when it is possible and set
clear boundaries. To ensure a healthy balance between work and personal life, give
emphasis to techniques for time-management and taking care of yourself.
Thanks
for attention

Made by student of a group БЕМ-723е

Veronika Krainia