Challenges in Small Business - TakeFin

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What are the biggest challenges for small
business
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Business is an activity that demands management,
leadership, and enthusiasm. You will need to face
everyday new challenges and problems while
running it. There are so many common business
problems like finding customers, generating
leads, building an email list, hiring the right
people for the job, controlling finance and
expenses, etc.
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Biggest Challenges for Small Business
FINDING CUSTOMER/ CUSTOMER RETENTION
STAFF MANAGEMENT
EXPENSE AND FINANCE MANAGEMENT
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Biggest Challenges for Small Business
FUNDING
MAINTAINING ONLINE PRESENCE
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FINDING CUSTOMER/ CUSTOMER RETENTION
Business leads and business generation is a key
activity for a startup to mark growth in the
industry. But, it is not so easy task. One needs
expertise, marketing skills, and network for this
purpose. Similarly, you got a customer, but if he
quit services after sometimes. Similar to leads,
client retention is also very important. To find
customers, think like your customer.
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EXPENSE AND FINANCE MANAGEMENT
Businesses have different sectors and
departments, so it is ideal to keep a check on
the cash flow activities of every department.
TakeFin is your need. This app lets you manage
the financial records in a digital data format.
Also, you can keep on analyzing the digital
records in a graphical format that allows you to
have a stronghold on your financial activities.
In this way, you can monitor finance records of
all departments.
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MAINTAINING ONLINE PRESENCE
One of the biggest issues handled by the small
business is online market presence. It directly
affects your business in these competitor world.
Lack of Marketing affects the service and
promotional activities of business. Small
businesses also not have much more data of their
ideal customer. There are lots of social
platforms are available in the market to present
yourself online.
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STAFF MANAGEMENT
Your staff is your asset. If they are productive,
your business will definitely mark growth for
sure. For that purpose, you need to establish a
keen channel with them. HR department could be
the best option to manage the staff for your
small business. The department will be
responsible for communication, work management,
and tracking of your staff.
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FUNDING
A business needs capital to run. You have various
expenses such as office rent, employee salary,
etc. Various startups initiate with a limited
budget and quit just because of a lack of
funding. But, if this a case then you should look
Bank loan, or try to get finance for your
business from the financial institution.
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Thank You!
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