FACES OF ONY | Top 3 Challenges Faced by Small Businesses - FACES OF ONY
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FACES OF ONY | Your oasis for Entrepreneurship, Travel, Fashion & Style, Hair & Beauty, Food and Celebrity slander.
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Faces of Ony is a personal and unique blog page offering you the hottest celebrity styles, latest fashion trends, useful beauty tips , and everything that inspires the modern woman. This webpage is dedicated to empowered women like me who juggles the balance between work and pleasure.

 

Eat and Travel in Style

Travel with me as I share stories of my journey in different parts of the world. Get a glimpse of my personal experiences in exploring different countries and get some advice on where to go, places to eat, and treasured spots to discover. Let’s eat like a celebrity, let’s travel in style.

 

For Love of Hair and Beauty

Know more about different tips and tricks on hair and beauty and be the first to know about how celebrities style their hair and get beauty tips from a make-up aficionado like me. I am very excited to tell you about my stories and share with you my love for hair and beauty!

 

The Gift of Fashion, Music, and Style

I have an avid fascination with the latest on fashion and celebrity styles. Let me give you a taste of my thoughts on what’s hot and what’s not and at the same time give you various ideas on how to play around with your personal style. I would also like to tell you more about my diverse collection of music. After all, everyone of us has a gift for fashion, music, and style.

 

Be Healthy, Be Fit

For me, being beautiful is not all about how you look but also about how your body feels. Like most celebrities, my style is to not just to look fit but to be healthy as well. I adore dancing, so for dance lovers like me, take a peek on my exercise routines which involve a lot of swaying and shaking. Feel good, be fit and be healthy. Let’s start now!

 

Women and Entrepreneurship

As CEO of ONYC Hair Extensions, I have learned so much about how to sustain a business and how to effectively deal with people, click on www.onychair.com to find out more. If you are thinking of putting up your own business, read along and learn a lot from my articles about how you can work your way into entrepreneurship and be successful. Women do business in style and that is one of the many things I have tackled in my stories.

 

I am thrilled to hear about all your suggestions and what you think about my stories so feel free to browse around and you’re always welcome here at Faces of Ony, your newest online BFF! See you around!

Top 3 Challenges Faced by Small Businesses

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25 Jan Top 3 Challenges Faced by Small Businesses

Starting a business is not easy. There are countless opportunities for growth as well as there are obstacles. Thus, it is important to understand some challenges faced by small businesses, especially if you are a starter. Know the fact that success doesn’t come in an instant.

 

Entrepreneurs, either big or small, experience these common business challenges all the same. Competition is everywhere and there is no guarantee that you will get what you expect from your business. You will go through the different phases of running and developing your business venture. There are great risks and it takes a lot of courage, perseverance, and patience to reach the top of the ladder.

 

In this article, we highlighted the most common small business challenges that owners experience. We will also give you helpful entrepreneur tips for success along the way.


1. Financing

Hands In Front Of Chalkboard

Running a business could be costly. That’s why finances are considered one of the most common business challenges faced by many entrepreneurs. Funding your business, whether by means of personal savings, raising capital, or securing a loan, needs a lot of hard work and patience. Profit increase is expected to take time.

 

Tips:

  • Secure loans from banks or lending companies that offer lower interest rates.
  • Establish an efficient money management.
  • Understand your recurring cash flow.
  • Seek the right insurance.

2. Marketing

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It’s not enough that you know how to manage business. You need strategies in establishing your brand presence to your target market. It doesn’t happen overnight, especially for small businesses that have smaller market. Making people aware of your products and/or services is one thing, while keeping their patronage is another.

 

Tips:

  • Identify your target market and set strategic marketing plan.
  • Take advantage of the social media in engaging with customers.
  • Link your business to frequently visited websites like Google, Yahoo!, and YouTube.
  • Try sending e-mail marketing newsletters. It should be mobile-friendly to make it more accessible.
  • Print out flyers, posters, and business cards. Traditional but they still work.
  • Create a blog and share stories about your business. Blogs are trendy.

3. Hiring employees

employees

A growing business means there are more responsibilities. Whether it is a sole proprietorship or a partnership, you need people who can efficiently manage specific workloads. So, if you feel you’ve been spending unusually extended hours working, then it’s time to expand your team.

 

For some entrepreneurs, hiring could be considered a critical small business challenge, especially if it is the first time for owners to employ staff.

 

Tips:

  • Seek referrals from people you personally know.
  • List down a job description. Know what you expect from your new hire.
  • Find time to interview applicants until you find the right person for the job.
  • Create an orientation and training program. It will help your new hire be more efficient with work.
  • Hold a regular performance evaluation of your staff.
  • Outsource staff if necessary. Freelancers are quite in demand nowadays.

 

There may be a lot of difficulties that will be experienced by business owners. Aside from the basic knowledge on how to manage business, tactical abilities would come in handy if you want to start a small business of your own. So, don’t be afraid to take the risks. Start your own venture now!

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