What is the most challenging aspect of running your own business?

Question

What is the most challenging aspect of running your own business?

Answer 1

I'd really like to start a business, but with my credit card debt, it is an impossible dream. I'd like to thank Bank of America for adding to my problems by buying out my credit card company and jacking up my rate as high as they could. I also appreciate the fact that when I asked for help in lowering my rate and pointed out that I've never made a late payment in 9 years as a customer they cancelled my account leaving me with a crap credit to debt ratio! I could sure learn something about business from Bank of America!

Answer 2

*cough* dealing w/banks and their ridiculous fees and charges *cough*

Answer 3

Currently the most challenging aspect of running my business is that your bank is not allowing credit lines to increase while our APR's are sky rocketing. Considering that your company received over $45,000,000,000.00 from the US tax payers to help the current economy,you would think that credit lines would be readily available and easy to secure.



What keeps my business afloat is that we have credit lines with other banks (Wachovia, Suntrust), and our rates have not increased and my niche is not affected by the economy (not yet anyway).



What would makes things easier? If banks would stop increasing interest rates on borrowed money when we reach 50% of our credit limit and forcing us into bankruptcy or increased costs to our customers.





Just to add... While starting my company I was very discouraged after trying to open a Bank of America Checking account. They wanted me to have an average daily balance of $2,500 or they were going to charge me monthly maintenance fees on top of that. Also I could only make a certain amount of deposits in a month or they were going to charge me per deposit (they were going to charge me for giving them money).



Pros and Cons of BOA



Pros:

Best online banking service there is.

Deposits process faster than some banks

they have billions of locations every where



Cons:

They almost always charge a monthly maintenance fee

They always raise the apr on your credit cards that you use

They love to buy other banks and raise your interest rate

There avg daily balance to avoid fees is often high

Answer 4

for banks to quit scamming people by holding deposits, and minipulating the order of posting checks to create overdraft fees.

Answer 5

No getting screwed by the short-term minded, bonus hungry executives of your financial institutions. Ahem, AIG FP, Bank of America to name a couple.

Answer 6

Avoiding getting indebted to the greedy corporate mafia (banksters).

Answer 7

My father and I had our own wholesale produce for about 8 years. The biggest challenge was being a one man operation (Dad was the money backing) and trying to compete against large companies. An example would be that a case of lettuce, at times due to conditions, would cost our company $55.00, whereas the large companies purchased larger quantities and therefore rec'd a bigger price break. The prices were very volatile due to weather conditions, quantity, quality, and availability. We kept some customers due to the excellent service we could offer that the big companies could not match.

Answer 8

to have a financial institution that's primary function is not to charge fees for virtually all services and transactions...

Answer 9

Bank charges.







Cheers

-Will

Answer 10

Well I recall one frustrating instance for sure.



I had (still have) a $26,000 credit card line of credit through Bank of America. At some point, Bank of America sent me some convenience checks with an advertised interest rate of 0% for 9 months. I thought it would be a good idea to use the personal line of credit as a sort of bridge loan for the 9 month term (still have to make the mininum monthly payments) and then pay it all back within 9 months.



About 4 months into the agreement I received a credit card statement that suddenly showed an interest rate of 12%. I called BofA and explained that I had the 0% arrangement. I was THEN informed that my interest rate had been reset HIGHER and that if I had a problem with that....I had better just pay-off the balance. Fine! I actually had the funds in the bank. So I wrote a check and paid it all. Then I ask about the interest for the 1 month (on a $22,000 balance, which is basially $220). I was basically told, 'Too bad."



Thanks Bank of America for CARING so LITTLE for your credit card holders.



Oh yeah. And one more thing. I am a SHAREHOLDER of Bank of America stock...so, it's not like I don't hope BA makes money. I just with they would do it ethically.

Answer 11

I was lucky in that I was taught photography from an early age by my Grandfather (a Pro photographer) so by the time I was 15 I knew how to take top quality images, but I still spent three years as a 'gopher' for a well renown portrait photographer and He taught me lighting and how to run a business before I started out on my own. In those day we realised that you have to learn to achieve anything, apprenticeships were common. Everything was film then and there was still some 'alchemy' in photography and most people hired and 'expert' for important occasions. Starting a photography business was much easier back then. In hindsight all this got my Name known within the business community so I was earning from day one - very fortunate, but I did have the ability too. The business skills required, for me, came later over time. It's far more difficult these days as everybody and their grandmother has a decent camera, the 'I have a Pro camera, therefore I am a Pro photographer' syndrome is endemic. Which is a little like saying I have a Steinway piano therefore I am a concert pianist. It would often take a day, just to set the lighting up on a shoot, an hour for shooting and several hours in post processing. What a lot of the photographers in the paragraph above don't realize is that most shots they see in magazines are manufactured and have a lot of skill behind them, they expect just to turn up, take images and get prize winning pictures - not going to happen. You do need a 'Pro' camera to record the data accurately and with good resolution, but the work, skill and knowledge is in what the camera actually sees and records, which is as far away from a simple 'snap' as a cartoon is to an oil painting. The very first thing you need is the vision to create your image, with the knowledge that tells you it's actually possible and how to get the effect you want. Snappers take whats in front of them, photographers create images, there is a world of difference between the two. But to a casual observer it looks simple. Chris

Answer 12

There is no right answer for this question, time is probably the best answer, or rather the management of time and resources. The old cliches are best, a penny saved is earned and a minute saved is a minute earned. Streamlining without the loss of efficiency and verification, this is achieved at the cost of effort and leaves the small business struggling. One must put on so many hats, so referrals are the easiest way to expand and bring income and advertise all at once.

Low overhead and high return on quality work. I hope this has helped in your study, most business owners cannot find the venture capital in these hard economic times so th

Answer 13

There is no right answer for this question, time is probably the best answer, or rather the management of time and resources. The old cliches are best, a penny saved is earned and a minute saved is a minute earned. Streamlining without the loss of efficiency and verification, this is achieved at the cost of effort and leaves the small business struggling. One must put on so many hats, so referrals are the easiest way to expand and bring income and advertise all at once.

Low overhead and high return on quality work. I hope this has helped in your study, most business owners cannot find the venture capital in these hard economic times so they rely on what works best. Only the internet is faster that the streets, but word on the street brings more money. Mr A. Colbert CFO

The Old Fashioned Way LLC

Phila., pa

267-560-6349

Answer 14

Capital. Without adequate capital any business will ultimately fail. Then if the business is properly capitalized in the beginning will it have staying power? That will depend upon the product or service being offered. If it is based on selling something that plugs in the wall then eventually the product will be replaced by another and it could impact the viability of the business. All the necessary businesses are in the hands of the big money people already. Chances for a startup are not good. Some areas such as business connected to computer products sometimes defy the rule. Yet being your own boss is better than working for someoneelse even if you ultimately go broke.

Answer 15

Respect my company offers to each and everyone that walks in the door. In times like these and being that we are in retail, concern for detail is priority. With less customers walking into the door, the ones that do come in need to be made comfortable, at ease and most importantly happy and have peace of mind with the products we sold and installed for them.



What would make it easier, hm good one. I'm sure I am not alone when I say I could write out an entire list of things that help. But I think most importantly would be an increase in consumer confidence, people need to believe in this country again, belief that these rough times are going to be short and that as a nation we will make it through stronger and better off than we were.

Answer 16

Discipline.



You have to have a plan and stick to it, but you also have to revise the plan when needed. I make sure that everything that needs to be done is done and done on time. You must keep whatever system you have developed running smoothly. A problem can take ten times the energy to solve than to prevent, and your business plan had better provide some leeway to address these types of issues. When I was stating out, I thought that everything would run great and get done when it needed to be, and I got a few surprises right away.



Things will happen beyond your control, we once had a supplier warehouse hit by a tornado that destroyed a large number of custom orders, it caused immense problems for us with our customers, who while understanding, still did not have their orders on time.



Also a small business owner tends to live and breathe the business 24/7, be sure to take some time away, and get involved in the community, provide support to charitable organizations.



But I would not trade all the headaches for the best job in the world.

Answer 17

We are small business owners in the state of Maryland. What seems to hurt the most are the taxes that we have to pay. We make a dollar and it seems like $.75 is taken away. There are so many rules to running a business and it seems like the laws make it harder. On the financial side, taxes are the hardest part along with the banks NOT giving you a credit line even though you show an increasing profit as the years go by. By the way, we do have a business account and personal account at Bank of America. What I dislike about their banks, particularly in the Temple Hills, Oxon Hill, Maryland area are the bank tellers are rude and slow. When we try to make deposits on the way to the next job, we want quick service. We pay way too much in taxes, gas, maintenance, etc to get the piss, poor service at our banks. Please up the notch on your customer service.

Answer 18

We are small business owners in the state of Maryland. What seems to hurt the most are the taxes that we have to pay. We make a dollar and it seems like $.75 is taken away. There are so many rules to running a business and it seems like the laws make it harder. On the financial side, taxes are the hardest part along with the banks NOT giving you a credit line even though you show an increasing profit as the years go by. By the way, we do have a business account and personal account at Bank of America. What I dislike about their banks, particularly in the Temple Hills, Oxon Hill, Maryland area are the bank tellers are rude and slow. When we try to make deposits on the way to the next job, we want quick service. We pay way too much in taxes, gas, maintenance, etc to get the piss, poor service at our banks. Please up the notch on your customer service.



Thanks!!

Answer 19

The most challenging aspects of running y own business is ordering the right supplies. At time I order items only to realize that that's not what my customers wanted. Other times I get supplies that within a short period they seem to be flooded in the market hence the selling price gets low and at this Time my profit margin is bad.



All the same this does not discourage me. I keep moving on.

Answer 20

You'd first think it's easier because you're the boss, but minding everything whilst keeping a steady head is quite challenging.



This is not because you fear of getting fired, but the main scary think about it is that if you fail, this is your bread and butter, where else can you turn to?



The most challenging part would be on having the guts to focusing your efforts on the parts of the business that you're really good at. Running the whole thing means all major decisions go to you, be the topic your expertise or not.

Answer 21

Cash flow... pure and simple.



Many banks, yours included, dont get excited about any business unless they are listed on the NYSE or NASDAQ.



Typically us small and growing businesses get the short end of the stick when we are the ones that need incubator money the most. We dont have publicly traded shares you can take as collateral, we are too small to issue industrial bonds, we cant go to venture capital sites without having to sell our soul for bridge or secondary funding.



You want to help?? Give us loans we can use, lines of credit that are actually functional at a rate that we can service the debt, and for God's sake... be a PARTNER in the growing of our business... not some patronizing parent that resents it every time we come asking for money.



I can say this.. because I AM one of your customers and when I save up the funds to replace the paltry LOC you offered... I'll replace it with someone else and be a FORMER one...

Answer 22

time is probably the best answer, or rather the management of time and resources. The old cliches are best, a penny saved is earned and a minute saved is a minute earned. Streamlining without the loss of efficiency and verification, this is achieved at the cost of effort and leaves the small business struggling. One must put on so many hats, so referrals are the easiest way to expand and bring income and advertise all at once.

Low overhead and high return on quality work. I hope this has helped in your study, most business owners cannot find the venture capital in these hard economic

Answer 23

You have to really want it and work hard at it. You will fail more than you will succeed. And it's those times when you decide whether you will get up and brush it off or stay down and counted out.



One has to be tenacious in the business industry nowadays. It's not for the faint of heart.



One word: Perseverance



Second, a solid business plan. You need to have one in place. Third, banks need to be a little more credit flexible as far as business loans and working capital are concerned. A lot of new small or starting businesses fail because of poor planning and not enough start up capital.



Small business owners have a better chance of getting struck by lightning than being granted a new loan by banks the likes of Bank of America.

Answer 24

Motivation and the ability to see the big picture.



Just putting in hard work isn't the only challenging thing about owning a business. It's different for every person, and even more different depending on the type of business.



It's hard when you have a small business with little to no employees, because you are everything in the company. You do the work of the management, finances and labor, if any. It's hard to keep everything balanced, and to find time to complete everything, yet still try to keep your business growing.



For my us, it really comes down to motivation, and the ability to see that we are making progress.... and with adding a little more effort here and there we can see our goals starting to come to fruition.

Answer 25

In short: time management. As a small business it can be difficult to balance between working in and working on your business. Deciding when something is worth paying to have done vs. doing it yourself poses a challenge.



From a banking perspective the obvious answer is finding the balance between what the bank wants to see and how accounting files the paperwork.

Answer 26

get motivated for time being but realizing these plans is always difficult only those succeed and survive that realize their plans with all efforts.

2. keep searching and be aware of the customers need of your area may be your whole country have a different taste but the surroundings you doing business is the only concern you should have.

3. dont keep very far targets set small and set the next after achieving this.

4. when you face the situation mentioned try to be a master o

Answer 27

Determination and a husband who motivates me--helps me stay afloat. If I can make it now in these tough economic times-I can succeed at any other time. I opened my business in Feb 2008 and began struggling by the summer of 2008 when the tough economic times hit. I have had to turn to creative ways to bring customers in. I have also had to take less of a porfit by offering customers discounts as an incentive to buy from me instead of Amazon or Target. I have organized buy local night (shop local) w/ other small businesses. I have perfected my elevator speech and am always quick to tell others about my business.



I am a Bank of America (business and personal) customer and was rejected a line of credit and business loans although my credit is excellent (750) but I found alternative lending (peer lending). It would be much easier for me to run my business if I had a line of credit to keep inventory on my shelf-and I didn't have to try to juggle ordering inventory while also juggling utilities, sales/state tax (thank God I have no payroll). Please help your small business customers by giving loans and lines of credit--a lot of small businesses are struggling and if we can't get money from our own banks or other alternative sources we will go out of business and Bank of A will lose customers and money.



The fact that I can check my acct online saves me time and I also do deposits through my drive through which is also great!

Answer 28

time is probably the best answer, or rather the management of time and resources. The old cliches are best, a penny saved is earned and a minute saved is a minute earned. Streamlining without the loss of efficiency and verification, this is achieved at the cost of effort and leaves the small business struggling. One must put on so many hats, so referrals are the easiest way to expand and bring income and advertise all at once.

Answer 29

Cash is king. If you don't have enough to get through the initial trials, don't even start. From there, running your business with as little debt and credit use as possible is a challenge. Many companies are in trouble now because they ran out of credit in tough times. Lastly, finding good business partners is a highly frustrating part of running your own business. When I ran my own business, I had issues finding good, honest, reliable people and companies to work with. Even the BIG BOYS were a pain. Lack of ambition, folks not keeping their word, days or weeks passing before return calls were made... Maybe one positive thing that will come from this recession is that companies will learn the value of a customer again and slackers will get weeded out.

Answer 30

Having a good book-keeper would be a must in a small business.



Most challenging aspect would be to not to use the "Credit

Cards" for the purchases and the bills, or at all.

This would make the financial part of the business very messy, especially

since interest rates "Continue" to climb,and who knows when relief will be in sight, picking the right bank to do our business

with would not hurt either,I Know Better Now, "Which one not to

even look at", Such as "B of A" ........m

Answer 31

get motivated for time being but realizing these plans is always difficult only those succeed and survive that realize their plans with all efforts.

2. keep searching and be aware of the customers need of your area may be your whole country have a different taste but the surroundings you doing business is the only concern you should have.

3. dont keep very far targets set small and set the next after achieving this.

4. when you face the situation mentioned try to be a master of one or two to

Answer 32

My boyfriend and I ran a branch office for over a year. We work well together. He has the knowledge to run a successful company, with his money making ideas and strong will to succeed. I have the patience to pay attention to details and keep good records of everything. So as far as we were concerned, it was going to be great.



The only problem we found is with EVERYONE ELSE. No one really wants to work hard enough and complete their tasks. It seems people just enjoy working for a salary, with no incentive to go the extra mile, even if there is extra money available!



So after a long time of hiring and firing, and pushing people along, we decided to just do it ourselves. It was tough at first on my guy because he is all about teamwork and believes that everyone can be making money. But now we are doing great! No overhead and less stress of dealing with incompetence.



**Make sure money isn't being wasted on anything that is not MAKING money!!**

Answer 33

Cash flow is the most challenging issue for small businesses.



I have a small online business and found out that it is very difficult for a small company to get a loan from banks. Finally I was able to get company credit cards from American Express and Advanta. However, once the economy started to look bad, Advanta increased my interest rate to about 3 times more. I was paying 35% on interest rate until I transferred the balance to my personal credit cards for lower interest rates. When I called Advanta and asked why they had to increase my interest rate that high, they couldn't tell why. They did it because they wanted it to.



I was surprised that American Express didn't do that. I opened up the account through Costco and they charged me the same interest rate they have been charging me since I opened up the account.



Their customer service is the best !!!

Answer 34

Most challenging? Credit card companies that charge parasitical interest rates and fees. Like BOA for example....I can't remember if this is the bank whose CEO spent $40,000 on a TOILET, or the one that needed more corporate jets and a new terminals at the airport, or the one that handed out hundreds of millions of dollars of bonuses, AFTER they've had a gazillion dollars handed to them with no strings attached and have, apparently, continued to operate as before.

But I do know that when I have....check that, HAD.... a credit score of 813, for my interest rate to hit 34% when the Feds are at a fraction of a point, I know that a culture of greed is still wildly and rampantly operant. And our customers, afflicted by this same manifestation of greed, can't/won't contract for our services in this season.

I can honestly check off everything else: virtually all of our customers heard about us by word-of-mouth - from previous, satisfied customers - not from our website or our YellowBook ads or the newspaper. I have the best operating crew in the world. We warranty our craftsmanship for life. Our bid could even be higher than someone else and we'll still get the job. We operate with huge, earned and unearned, favor in the marketplace but NOT in the financial market.

What I've learned? To operate on a cash-only basis, both through my business and in my personal arena. I will no longer be the Golden Goose for predatorial banks who've decided to rape the goose prior to killing it.

My local bank? The absolute best in the world. I most certainly need to make that distinction! Sunflower Bank.

Answer 35

Never having to deal with a worthless bank, they are a P.I.T.A. It does you not one bit of good to have a good credit rating. We have had to borrow money from friends & family to stay afloat.

Works like this. Banks needs money to stay afloat, we screw the tax payer, tax payer comes in to borrow money its NO, good credit? Tough s--t. Banks needs more money RE screw the tax payers again, so we borrow from whomever we can until we move out of California. Like with a lot of other small business people I know.

I honestly don't know why you would waste your time asking this stupid question when you obviously already know this is how it works, Its called the "Hold them and F--K them policy".

Should have added we dropped our health care so we can use this money towards keeping us "afloat" I know you are crying your eyes out as with Obama. I don't have health care but if I was here illegally and could start kicking out babies left and right, I would have the medical I so desperately need.

Answer 36

0 debt, when banks do not loan it makes it impossible to run a business, so have lots of cash on hand to keep things going in these tough times. If you're looking for a start up idea look for something internet based, 100% paperless, it will be cheaper to get into and maintain long term. I know some people will scoff at this statement but the adult entertainment industry is a recession proof online business, if you have the start up money.

Answer 37

I thought about opening a business but decided not to for many reasons.



1. In my area there have been several business going out of business.

2. Rent/mortgages are unstable. Foreclosures are high.

3. Credit card interests rates are astronomical and the companies seem to hike them up with little or no notice. The fine print is confusing and hard to understand...

4.People aren't going out spending money as much as they used to.

5. I make a lousy sales person. I couldn't sell a bag of flour to a baker.

Answer 38

Constant shakedowns by the mob. It's bad enough they collect protection money and make me hire idiots that I don't need. They constantly act like they are doing me a favor. And it doesn't matter if a new regime takes over, they are still the same old wise guys. Of course the mobsters in most of the other neighborhoods are a lot worse. So I shouldn't complain, but I don't like this US Government crime family.

Answer 39

Having sufficient capital. And with the banks and credit card companies are operating right now, especially. I'm really worried about the future of our nation. It seems the big companies are getting the help and the small ones are just pretty much on our own.



So, what is up with lenders getting the tax-payer bailouts and not freeing up the money to tax-payers willing to take risks? How do you foresee getting out of this economic crisis when the banks won't take any risk?

Answer 40

The most challenging aspect of running your own business is getting customers on short notice so as to pay back the loans and get returns on your investments.

Answer 41

I have never ran a small business so I may not be qualified to answer this question. I am, however a Bank of America account holder and I feel compelled to add my own personal input to this question. If big banks, like BOA, treat small business owners in the same way I have been treated then I would imagine that the most difficult aspect of running a small business would probably be having to deal with the never-ending barrage of bloodsucking fees and charges that are thrown at you when you are lying curled up in your most financially susceptible fetal position feebly trying to shield your head and face from a bombardment of merciless fiscal blows while having to deal with smug finance executive types who were probably picked on in high school and have only just recently given up the acne cream and penis enlargement pills and now pusillanimously hide behind a shadowy, but legally binding wall of fine print.

Answer 42

The biggest problem by far for me is successful marketing. I get good word of mouth and recommendations, but advertising is almost completely ineffective despite considerable advice and attention to it. I have no idea why this is so. Moreover, recommendations and a good reputation do not bring more clients through the door. Furthermore, undercutting all my competitors has failed to lead to more consultations and raising my prices even slightly puts people off, despite the fact that my competitors charge ten times my rates or more.

Answer 43

I've been a BofA customer for over 20yrs. I've had personal and business accounts with BofA, in addition to a charge account for many years.



BofA made an attempt to turn around its horrible customer service standards in the 90s and has since reverted to its former, loathsome self. Where BofA could have stood out as a leader in the industry, it stood out as a leader in raising fees and rates. Today, BofA survives only because it has a large network of locations.



BofA has done to me the way its done to so many customers. The greedy bank that held its hand out for taxpayer funds decided to make changes to my credit card, an account which has never had a late payment in its 10+yr existence and which has been paid off monthly for the last two years. Well, BofA actually closed my account and reopened a new account with a credit line of roughly 40% of the previous account. Now my FICO score takes a crap for showing a closed account as well as having a replacement account with a much lower limit. And I can expect my other credit cards to act in a similar manner. Thanks BofA for screwing the people that have paid your salaries.



I'm beyond mad, though. I will be closing all of my BofA bank accounts and putting my money elsewhere. BofA will never have my business again. I'll keep my wonderful replacement credit card, of course, but its balance will continue to be paid off monthly. BofA will not make a red cent in finance charges from me ever again. And it won't have my deposits to fund loans, either.



Good luck BofA. It's a little late to pretend to care. The word is out, you've lost many customers over the years. Add me to the list.

Answer 44

I am amazed and pleased that a Bank would ask this question which is an important one.



The answer does depends of what line of business.



In the clothing business for example the BIG problem is when to unload the present season's stock and get the next season's stock in its place.



If a business waits until July 15th without beginning to sell off ALL summer stuff they will be stuck with a costly inventory which will NOT sell the next year.



If the business is hard seasonal goods then DISPLAY is the biggest problem. For example if a dealer does not have a RADAR website he is doomed.



If it top rain to-morrow he and his staff should be at the business all night long putting rain goods at eye level or out front if allowed. Same with snow and snow shovels, same with below zero weather and heated gloves.



The second biggest challenge is preventing your staff from stealing or giving their relatives discount buys.



The secret of success in any businessis making the staff partners. Offer each clerk some shares, to be paid painlessly out of his bonus or commission.



A longtime excellent employee should beinvited to his bosseshouse at Christmas and be awarded a small partnership FREE. (for example 100 shares of the company).



Each year do the same thing.



If a dealer goes on holiday leaving his shareholding emplyees to look aftert the business it is a certainty that they will NOT steal and will wake up each cold winter's day saying "I must get down to MY business."



Eventually your employees will be owning HALF your business and you can retire andlive off the other half.



I've just given you some proven strategoes that have worked wonders in our extended family who own many profitable businesses and factories.



Make you employees proud and your success is assured.

Answer 45

1) Staying organized and keeping accurate records.



2) And if you have to hire employees this not only gets more complicated and expensive, but finding good help in this day and age where most people want something for nothing is challenging in itself.



3) Also you gotta be frugal, but if tools/equipment are involved buy good ones that wont need to be replaced over and over, if you buy cheap tools/equipment by the time you are done not only may they cost more in the end, but when they break and there is down time you may also lose business. So buy quality, just be smart about what you pay.



4) ALWAYS pay your taxes, as soon as the money hits your hand slice off Uncle Sam's portion right away. This will insure that you don't get into trouble down the line.



5) ALWAYS pay your taxes, I cant emphasize this enough.





6) Keep your wits, don't let little setbacks make you fold your hand before its time. Think and Strategize on the fly if necessary.



So basically its not so much any one thing, but keeping a balance of them all in order to not get into trouble.

Answer 46

Remember following.



1. its easy to make soo many plans and get motivated for time being but realizing these plans is always difficult only those succeed and survive that realize their plans with all efforts.

2. keep searching and be aware of the customers need of your area may be your whole country have a different taste but the surroundings you doing business is the only concern you should have.

3. dont keep very far targets set small and set the next after achieving this.

4. when you face the situation mentioned try to be a master of one or two to give better service to the customer instead of trying to become of jack of all trades and master of none you got what i mean?



Good luck in your plans.........

Answer 47

Thirty years ago, my father had a friendly and close relation with a local Bank of America branch. Obtaining construction financing was a critical part of keeping his construction business going, and things worked out pretty well between my father and the local BofA branch. That was thirty years ago. Today, I'm amazed that you are even asking small businessmen how it's it like to run their businesses. Are you kidding me? Yes, we have all kinds of interesting difficulties in running our businesses, but you (yes, BofA) are doing nothing to help us. We are no longer a "profit center" to BofA any more. In fact, it's almost impossible to get you guys to even LISTEN to our minor banking problems ("You need to call this number for assistance") any more. What a joke. I guess this Y!A question is just all part of an BoFA advertising campaign that attempts to build the illusion that you still have any relationship or rapport with small businessmen.

Answer 48

It would make it easier on us if the credit was not so strict. I think take someone more for their business plan than their credit score. Most of us have been through a lot of trial and error which (as a bank) you know hurts our credit. There is no instruction manuals for operating a successful business. The only thing that keeps me afloat is persistence. My credit score is bad and no bank will help even with a great track record and doubling my sales every year.

Answer 49

Have enough customers to keep us busy and enough money to expand to serve more customers.



What would be most helpful is having access to credit in some society like Gamin Bank program where credit is given out to those in the community who complete the course and make some commitment to pay back which is backed by the others in the community.



That's it, customers and credit.



You would help your business if you leveraged your customers to the advantage of your other customers by creating networks of buyers and sellers.



Also by setting up neighborhood micro credit associations.



These two things would expand your own business by getting most customers for your customers and by getting your customers more money for credit to expand, then there will be more money in your bank.

Answer 50

I Own 2 businesses, - both dealing with various government agencies and i think either adding 3-4 hours to the day or possibly another day ( from the normal 7 ) would help tremendously! I was thinking "Munday" a break from the weekend to ramp up to work.



As far as supplies go the problem is that 1) if you buy just enough it cost too much 2) if you get a lot of a product in for a good price you may be stuck with it.



FInances are a time grown thing, in my book, you spend what you NEED to put the rest into accounts and let them sit. Don't waste ANYTHING, one day you will need it and you won't have it. I HATE going for loans or or cards (no offense) so I try and do everything within 30 days, and ALWAYS ask for a 2-5% discount for early pay from your supplier.. what's the worse ? they say "no?". During these times most say yes to 3% net 15.



I always will take the money as pay as needed, and if worse comes to worse you can lend it back to your own company, that way you earn linterest (legally) and you don't have a corporate monkey on your back (again no offence!)



Just starting our yes you need credit I prefer a credit card and PAY IT OFF ASAP every month if possible



My last bi of advise don't blow you money, things may be going good, but I have seen people blow it all and have nothing when times go tough. Basically the lesson to remember is "Always depend on yourself.. look out for #1... but don't step into #2!"



Jim

Answer 51

Being happy with your chosen profession is paramount. If you do not enjoy what you are doing then sooner or later you will decide you do not want to be there. You need to be present for your business to survive, thrive and grow. The worst thing you could do in the first years of business is to hire employees. If the business is small you need to run it yourself and commit the time to it, until you get it off the ground enough to afford to make the leap to hiring employees. If you do not plan to spend more time at work than your employees then they will care less than you, since they do not have a dime invested, and you do. Your actions show them how dedicated you are and they will take the same pride as you.

Answer 52

Making sure you're well organized and have a good business plan mapped out. You also need a good balance between your social and work life. Having the faith and confidence in your business when things seem like they aren't going in the direction you'd have them to go in is also helpful.

Answer 53

Marketing, reaching more and more customers... then: customer education, giving him some story hinting that it will help him & sense of some good-life or national-service or something like that--vision in buying your product. After that, servicing, care, growing with the customer, and finding the latest produsts... use ful and worth his money... be honest aboput it. It is no use just cramming -- stuffing-- banging him with useless drag items, just for the sake of seller's need.

Get the full knowledge of things you are selling. Next, make grades of quality and usability and utility. Next, understand the potential customer... as to what type he is: his personality, mood, work, status, social history, apparent location in place and time, indulgements-activity-business and the set of mind that goes with it. And also what could be put down his throat--sold to him. And how. Be polite and low-profile. Emphasise on what you are there for -- at the customer's time and place). Devise ways of making his mood and then present your knowledge with the honest attitude of teaching him the product and it's ranges-options, and help him in deciding what suits him. Don't bang things you want to sell on his head. HE cares two hoots for what YOU think. Improvise, rersearch for latest trends and future possibilities and time the things perfectly, also comprehend / envision things-needs-products to come. Make them feel your products and servicves help them. These not be drg on them. And be honest in providing service and really MAKE THEM FEEL THAT THEITR MONEY HAS BEEN USED FULLY FOR THEM.

Answer 54

Currently? Keeping the present Administration out of my till, keeping what I EARN to expand my business, not cover YOUR mistakes, and greed, and illegal activities. Take note of the comments AGAINST you guys here... YOU are PART of the problem.

I work hard to keep my end of a deal up... maybe you should try that?

What helps me stay afloat? CASH... I dumped your kind a while back, and use CASH to expand... now if we can remove the Great entitler out of Office, I, and many small business owners, would do even better!

Answer 55

Frankly Mr. BofA official, it doesn't seem appropriate for you to be making inquiries about how small business owners manage their finances, not when BofA is receiving billions of TARP funds due to criminally negligent loan practices, credit default swaps. How many diamond earrings did that 4 billion in bonus payouts to Meryl Lynch employees (your employees now) buy?



You bastards are jacking up interest rates sky high while receiving all this TARP money? I'd love to smack you for having the nerve to post a question such as this. Shame on you.

Answer 56

Before you ran your business did you do a feasibility study?



This focus mainly on the environment you wish to locate. Too much competition, difficult access by customers, low product satisfaction, mediocre advertisments or promotions, pricing (most times prices can become too high with respect to other businesses), sanitation and hygiene personally and work location, lack of investments to keep the business afloat, and of course something that might pass by your thoughts, honesty and business principles, not excluding deportmental status of employees and adequate business etiquette by them. Not excluding mannerisms and patience to deal with all class or category of customers.



It takes days to get customers, and seconds to lose them!!

Answer 57

high taxes which could lead to layoff of your workforce. Keeping items in budget. Insurance and other costs related to your business. Layoff of workers would be a large worry for some especially in these times. But branding and getting your business out there would be another.

Answer 58

For me it would definitely be the bookkeeping & tax returns. Laws change yearly, and it is very difficult to constantly change your bookkeeping methods to keep up with sales tax laws, federal laws, etc.



For example, if I sale a retail item in my own state, the tax law is changing this year that requires me to look up each individual tax rate to each county I ship to. This means if I sold items to 50 different counties/cities, I will have to go and look up their individual rate. Add to that the fact that you must account for various other costs & report those, and it becomes a mess.



For many small businesses, it would be far too costly to hire a bookkeeper or full time accountant. So it makes much more sense to do the books yourself until you reach a level of income that can support an additional employee.



But the problem is that it becomes hard to focus on the business, and I often find myself spending more time on bookkeeping than actually thinking of new ways to increase revenues.



So to me, a simplification of tax laws would be very nice, and make business much easier.

Answer 59

I currently run a car audio business. I have a shop in San Francisco and now im expanding into Las Vegas. I think the most challenging aspect of running your own business is timing. The economy is so dried up now its hard for any business to succeed. Even the big companies are going down. If your in business for yourself you have to stay on top of everything at all times. Constantly looking for new ways to attract more customers. How did I succeed in California? I offered something other companies didn't, and it worked out!



lasvegasondisplay.com

Answer 60

There is always going to be ups and downs in business, The most challenging aspect to me is finding someone to share your burden. It can get lonely trying to stay near the top. Both friends and family.

Answer 61

The most challenging aspect of running your own business is being able to use credit cards without predator banks always raising their interest and fees.



I find that I play "musical credit card chairs" when I keep transferring my balance to banks that offer temporary no-interest or low-interest on transferred balances.

Answer 62

Yes but for us is Never having a vacation, having 2 lease payments one for our house and one for the store, two of everything two water bills two electric bills, payroll, and paying the state comptroller taxes every month if you are late they show up at your store and take what is in your register or freeze your bank accounts It is very stressful you have to be on time with everything and at same time keep your customers happy but thats what keeps us going our great customers who have given us the opportunity to continue to grow with our store now 20 years but it is hard work and much dedication

Answer 63

There is no straight answer to this question. It really depends on the business and what market the business is positioned in.



The challenge a beauty salon faces is ALOT different to a forex trading business for eg

Answer 64

honesty is the best policy - time punctuality - preference for the need of the day - customer focus and reasonable profit oriented - balance in between demand and supply - quality conscious and cost effective - substitute and brand maintenance - no shutter down in either cases - regular stock maintenance to avoid customer disappointment.

Answer 65

Being able to compete against the large corporations seems obvious. I sell the same type product Wal-mart does so I have to offer exceptional customer service to keep the customer coming back.



Besides that I'd say the biggest challenge we have (my husband and I) is carving out time for ourselves and our family. We feel the need for at least one of us to be there during every open moment as well as several hours of paperwork after closing.

Answer 66

The most challanging aspect would be to find a bank that is solvent and won't be bailed out by Barry Obama, Good luck with that.

Answer 67

Always plan ahead and try to have money aside in case of an emergency. Never buy more than what you need, and keep a good inventory. Your best customers are the ones the keep coming back.

If you provide a good service they will keep coming back to you.

Good luck.



http://www.zipit7.com

Answer 68

The most challenging aspect is that unlike a bank, you can't rely on the government to bail you out.

Answer 69

Invisible pink unicorns attacks was the most challenging problem I have yet to run into. A couple weeks ago my business was overrun by a heard of these beasts for the twenty third time. There was no way to stop them, they trampled on everything. Anti-IPU (Invisible pink unicorn) repelant would make it much easier for my business to run. The next attack can happen at any time. Help me.

Answer 70

I dont find it hard to keep customers happy , maybe its because I never charge them unfair fees or raise their interest like Bank Of America does, no offense. That makes me have loyal customers that always keep coming back happy.

Answer 71

Staying afloat: not drawing a salary for years at a time and living off what the wife makes.

What would make it easier: same problems as others on the loans. But in addition, all the little stuff you have to stay on top of because other people are not doing what they are paid/contracted out to do.

What I would appreciate most, though, is just not having all the tax forms every quarter. I have multiple locations, so this means multiple sales tax, city tax, county tax, every quarter/six months/year and I know I could pay someone else to do it, but always trying to save money. Just seems everyone has there hand out for a little bit, they make it hard to comply, and then come back and ask for more (see election in CA tomorrow).

Answer 72

the most challenging aspect of running a small business is keeping on top of everything

the thing that keeps me going is the publicity aspect

Answer 73

It would be easier if customers paid for services at the time of service. It is hard to survive when you have thousands of dollars in accounts receivable. My vendors expect to be paid within a timely manner, so why do my customers think they can pay whenever they want to.

Answer 74

Finding the right monkee. You have to have a monkee that keeps his damn hands out of the till. I had to resort to a stuffed monkee and I began to make enough to feed myself. That old monkee was grabbing it all while I was living on bar peanuts (for free) and getting a bad reputation. Business began to get better. I became happier about my work. I have enough to tip the bar maid now and she gets me a cold mug without me asking. She smiles without me telling a joke. I dont have a tab and for once the lawyers are buying for me. I am a street musician recomending we close the Federal Reserve on the same principal of proven worth. Gold and Silver really do the job better without banks.

Answer 75

I can't get the same massive bailouts that you can.



But help is on the way: Dave Ramsey said if it gets tough, then don't pay you guys a penny.



Sounds like a plan!

Answer 76

Since Bank of America is in the business of giving checking accounts and loans to illegal immigrants, even though the loans can't be repaid back, so Bank of America is looking to the American tax payer to bail them out, I will integrate that into my answer.



It is challenging for a small business to pay their illegals under the table, and not get caught. However, this is a win-win situation if you don't get caught. The small business evades FUTA, SUTA, and FICA taxes, while the illegal immigrant pays no taxes at all.



It is beneficial for the small business to pay their illegal employees well under the federal minimum wage. However, once our politicians reward criminal behavior by granting amnesty to all 18 million illegals, this will require the small businesses to start paying the min. wage and all employer taxes.

Answer 77

Dealing with all the government imposed rules and regulations. I had a small business, and I had to spend so much time and money on insurance, state licenses, federal licenses, employment laws, tax laws, DOT laws, FMCSA laws, etc, it was tough focusing on the core business. Our society has a lot of rules, laws, and regulations. It can be very challenging with just one guy running the show.

Answer 78

all my finaces at my finger tips when making purchasing decisions,from my personal accounts to my over seas accounts.having more hours in the day so that I could do bisiness while at the same time creating new.Thats a problem. would like to have accounts refreshed daily like my web page for latest up to date perks without long bullish contracts.

Answer 79

The fact that start-up funds are rarely available and small businesses have to compete with big box stores like Wal-Mart.

Answer 80

WHen I had my business, it was realzing that I did not have live breathe and eat my business. There were others who could do the job with and for me.

I was killing myself for the almighty dollar. You have to eventually take time off and trust someone else.

Answer 81

The biggest thing that has improved my business is that I didn't borrow any money from Congress-bribers like you clowns.



Of course, you managed to take my money anyway.

Answer 82

Red Tape

Answer 83

I personally think that running your own business involves all types of help. Especially help from your bank, and when your bank charges you overdrafts for items that you had money for, it makes it all the more difficult. Thats why it is important NOT to bank with Bank of America. A business cant be run effectively when their bank tells them, "yes sir, you have overdraft protection so there is no need for alarm" so the customer doesnt transfer from any other accounts, they are then charged with overdrafts because of erratic hold policies excercised by the bank, like bank of america. There is no way that a business would be ran effectively if it relies on Bank of America, bank of (their own) opportunity.

Answer 84

I would say it is balance. It is hard balancing work, advertising, and bringing it all together. Not to mention, trying to have a family life and good health.



I have confidence in myself. I don't know what would make it easier.

Answer 85

Being confident that you can pay your taxes and your employees on time. Remember in the long run your employees do run the company and are your front line. Hiring the right ones can be difficult. Always be optimistic !

Answer 86

It all boils down to "good employees." They are actually what makes your business. A good employee will do all they can to help your business to grow. On the other hand, if you have someone who is just there for the paycheck, you may have someone who could do more harm than good.

Answer 87

I cant emphasize this enough.





6) Keep your wits, don't let little setbacks make you fold your hand before its time. Think and Strategize on the fly if necessary.

Answer 88

I owuld keep it organized. Take care of everything on time. And bills etc. And keep in mind that when your customers (or clients) are happy you are happy too.

Answer 89

Hi,my father died when i was only 16 till then i am handling my father business according to me business is business there is no small and big in it it is your mind which make it big or small i am running my business coz my mind never panic i mean matter what happen just never panic make your brain cool be cool and handle all problems with easy and second you must know law and do all work on papers also i mean if you are dealing with some one be sure your side of paper work is right so it means your money is in good hands there are many more things to tell but 3rd rule of business is never tell anybody how you do business have nice day bye bye.

Answer 90

finding the right people has been my biggest challenge, as well as knowing when to relax lol you need a break once in a while or you will burn out



no one will work as hard for you at your business, so don't expect them to, expect them to work hard at the job they are preforming, big difference.



always get an accountant/bookkeeper

Answer 91

finding and retaining good employees. in a small business, when we lose an employee, it may mean losing 10-25% of your staff. finding good employees, quickly, can be a challenge. i realize that the job market it tough, so it should be easier to find emploees for small businesses, but we often are not able to match salaries, benefits, etc of large corporations. or people are afraid to take the (perceived) risk of moving to a small company. what they often don't realize is that by joining a small company, they have greater opportunity to make a huge impact and really enjoy their work.

Answer 92

Competent employees who gave 10% of what I give who consistently follow instructions and rules. I have no idea why this is so difficult in an economy where so many talented people are taking low-level jobs.

Answer 93

Alot. During these times owning a large buisnees is hard...

Answer 94

Hmm if a particular bank that borrowed from the gov would stop rearranging deposits so you incur 105 fee on 3 $3 transactions.



And if they stop lending to people with phantom incomes and allowing undocumented people to obtain credit cards and bank accounts while denying American citizens that same privelege...



Bofa - you know you set yourself up to get bashed, please read ALL OF OUR SUGGESTIONS AND INCORPORATE THEM INTO YOUR POLICIES,



oh and show good faith during this recession - um does your leadership and C-level officers have to receive multimillion dollar salaries/bonuses? Can they live off the $20 million they made last year?





that's all

Answer 95

dealing with government regulations and taxes is the hardest part. There is software that can help balance the books.

Answer 96

The most challenging aspect of owning a small business: keeping customers.



With less money to go around, customers are less willing to spend.



The challenge will be to sell a promote that customers really want in their lives because in this economy consumers are being more selective with their purchases.

Answer 97

biggest challenge in business today lays at the feet of the banking industry, BoA being one of the worst offenders.

Answer 98

Risk

Answer 99

Complicated tax laws, paperwork. Clowns in Washington who want to spread the wealth...to themselves.

Answer 100

Not being able to count on a regular income. you will have months where business is good, and months where it is slow...and you have to divide your input over the year. so plan ahead, and always put a good sum of money aside for bad times, to carry you through.

Answer 101

This is fascinating, i am finding it hard to get back my status from 2 years ago, simply not good enough isn't the economy.

Answer 102

Getting the capitol to start and operate as a contract driver.

Answer 103

the financial aspects whether your biz is doing bad or good the money has to be delegated wisely or if not it can mean the difference between prosperity or failure. Experience is a virtue here.

Answer 104

Marketing.

Answer 105

Using a good bank helps me with my business, and Bank Of America is not the bank I use

Answer 106

Surviving in spite of ridiculous banking fees for every little thing.

Answer 107

I guess it would be being responsible for everything, and trying to insure those that you hire can handle the responsibility that you delegate.



Delegating responsibility is a very large issue for many small business owners since in many cases people are putting the future of their company in someone else's hands.

Answer 108

Balancing too much work & not enough work with number of employees.

Answer 109

Two essential things for your business would be great customer service and good computers.



With those two things you can move mountains. The people working for you must understand people and what they want, regardless of what you are selling.

Computers help keep track of everything and are an essential part of any business large or small.

Answer 110

The competition of course!

Answer 111

My dad has his own auto repair. Its putting up with the nagging customers!!

Answer 112

Finding trustworthy, loyal and dependable employees who are not ONLY interested with their paychecks and well-being but also with the GROWTH of the company.



On what tree do THEY grow?

Answer 113

Keeping up with the government stuff.

Answer 114

Not overpaying when acquiring crummy companies (i.e. Countrywide & Merrill Lynch) can be quite challenging.

Answer 115

Paying all of Bank of America's new fees.

Answer 116

Generating Cash, reducing overheads and expenses. remmember CASH IS KING!

Answer 117

No doubt everyone's life would be easier if usury gangs (banks) were finally outlawed.

Answer 118

Asking the boss for a raise or the day off.

Answer 119

1.stay high and motivated 24-7



2.finding a good/trusted/reliable/ wont cheat partner or worker

Answer 120

Taxes and finding reliable, honest, hard working employees.

Answer 121

The challenges are infinite, yet variable.

Answer 122

Collecting money and dealing with building inspectors!

Answer 123

Banks scam people sometimes.



Also credit card debt.

Answer 124

Collating From dead beat's. Like the United State's dept of defiance. there long on promise shot on delivery. the persintion was good: thescince was good; the technology good. The only bad spot is us dod fraud.

Answer 125

Keeping the Govt. out of your pocket.

Answer 126

Keeping your imployees and customers satisfied

Answer 127

Use a system that works, and and repeat it year after year.

Answer 128

If i was in that situation then the most important ideas of running a business would be to make your employees happy and its also important to have a good quality of service to your customers by having them come back for more. Also, the appearance of the business is crucial so that customers come back for another visit. Having a reliable staff of workers and a steady flow of customers insures how the business will do, but due to the economic problems around the world and the idea of competition between businesses; however, when everything settles at the end it all about surviving by knowing what you are doing.

Answer 129

never open with a "friend" they will burn you and use you even if they have a great outside appearance and hangout quality.

Answer 130

Always I want to make sure that I'm going the right way. I need free professional advices.

Answer 131

Try to avoid loans as possible, loans are the worst thing in business. Depend on yourself and your capabilities, you can do it !



On the other hand, " try to start where others ended". Try to gather enough information about the particular field of trade, this will guarantee you to grow and make great profits.



"Marketing" is the key behind sales. Small businesses -ignore- this fact, which is the reason why they stay small or even come to end.



In large businesses, market R&D is directly proportional to profits. Small businesses are no exception, try to specify your target market, and define your competitive edge.



To conclude, good management is the secret behind a successful business.

Answer 132

Keeping those damn Oompa Loompas from escaping.

Answer 133

getting the money to start

Answer 134

say no to the north amrican union wake up

Answer 135

In Canada, we're not permitted by law to advertise for Christian employees. Christians make great sales people, much better than some other cultures. Therefore we're required to interview anyone who applies which takes up huge amounts of resources, and we have to document why someone with a terrorist attitude, for example, would not make a good salesperson. This is incredibly wasteful! A huge drain on resources.



Since Canada doesn't have freedom of speech, we're also required to to business with people we may not want to do business with (for instance, people who don't like paying their bills) since we're not permitted to say why. Well, we can say why, but what we say might be prohibited speech for which we can be fined or jailed.

Answer 136

You work more than anyone else and your employees still complain that "the boss is lazy"

Answer 137

competition is the biggest challenge......

Answer 138

the stress of dealing with banks

Answer 139

inventory and maintenance...sometimes they get away from me and cause problems later at the worst possible time. you get into a gold rush and start hoping nothing will fail or run out...then it does...



seems like i've gotten into a vicious cycle of living hand to mouth...so to speak...i need back-up equipment and some overstock of supplies(just in case)



and since i'm sitting on santa's lap here...i need some more room...and more personnel options...and a big fat loan...about fifty grand should do it....and a cpa on call at the branch of my choosing.

Answer 140

that would probably be finding customers and clients

Answer 141

If I really thought Bank Of America cared I would answer willfully. B of A has allowed illegal immigrants to open bank accounts with them. While I am educated, licensed, insured, and bonded, I lose business to the illegal immigrants who under bid me and are not licensed or insured. B of A says they are helping America, B of A only helps B of A. They charge exorbitant fees and are heartless when trying to explain charges that should not have occurred. I will die talking to everyone I know to leave Bank of America or never bank at Bank of America.

My credit union is the best source of banking. People please understand this one fact. Banks are banks for one reason only, to make money off you. A credit union is there to service it's members. A credit union always provides lower interest rates than banks and truly offer kinder service.

I pray nothing but bad luck for B of A, bad loans for B of A, and that they fail again, this time with no more bail out money to help them survive.



This arrogant bank should be called,



"Banked off America."

Answer 142

Well i guess it would be very helpful if the banks (at least in Australia) would pass on rate cuts to their customers, that way the hard times won't be so hard on their customers (who also won't flock to other banks who have cheaper rates), & the customers themselves won't be such a$$holes to everyone they meet or speak to (ie, our receptionist & techs, & other receptionists/ppl out there) cos they're taking out their frustrations on innocent ppl who are also doing it tough. I just wish ppl were not so rude to others, they need to realise that other ppl are doing it tough too, & maybe even tougher than they are doing it, so think about that first before u get all b*tchy on the phone or blast a receptionist. Besides, it just makes ppl think that ur like that all the time, when maybe ur not. :-)

Answer 143

i would say taking the risk

Answer 144

write off

Answer 145

look at what you have in hand, if you have $10,000 , you will not go and get a bad *** loan and build a big grocery store, but instead you will rent a small place in a mall. start it small and simple and then build it from there.

Answer 146

Less bank fees....

Answer 147

KEEPING TRACK OF EVERYTHING!

Answer 148

um i dont own a sb but i do sell eggs

Answer 149

stealing money

Answer 150

Government paperwork. all the rest is a snap.

Answer 151

MAKING PAYROLL

Answer 152

honesty

Answer 153

sustainability is the most challenging i would say

Answer 154

Figuring out how to con suckers into thinking your business is worth patronizing.

Answer 155

Bank of America SUCKS!!!!!!!!!!!!!!!!!

Answer 156

Bailouts.........keeps them afloat all the time.

Answer 157

not getting a federal bailout.

Answer 158

keep control of money

Answer 159

official bank of america? really? wow..dont mind me, just a friendly hello :)

Answer 160

cooking my books

so i can get

tarp money...

Answer 161

money (:

Answer 162

The most challenging tasks of a freelances or owners of small business are marketing. The most important consideration when operating a small business knows what to do. In that way, it is easy for the business owners to provide value to their clients. The most powerful methods in marketing are to step into the shoes of the best client and discuss how they found out about the company.



This can be a good guide to filter the target market of the small business. The best part of this the small business owners can communicate with their clients using different marketing methods.

Looking into the Yellow pages to advertise is a very obsolete thing to do. The Internet has basically changed the way people find products and services they need. People search in the three most popular search engines such as MSN, Yahoo! and Google.



They use these search engines in order to purchase products and find professional service providers. Unfortunately, not all small business owners bother to penetrate the Internet to market their products and services. They are either slow or not doing anything at all. It's very usual for a small business to have poorly created website online, trying their luck for some clients will find it interesting. These companies should grab the opportunity to make use of Internet marketing and use smart methods to create a website focusing on a particular market niche. The Internet is the best medium to acquire profit for small business. The web can be an excellent marketing instrument to obtain more clients.



It's Never too Late for Online Marketing



There is no convenient excuse for small business not to engage in online marketing. Even a simple listing of a website in the contact details is a good start. This listing should be controlled through employing other marketing methods, like web address on letter heads, brochures and business cards. Online marketing can give real power to the small business owners whenever they utilize the web as a part of their marketing process to help create a stable stream of aggressive clients just so excited to buy their products. Although, this is not a simple process the standards behind it are easy to follow and purely draw from the skills that the small business already posses. The essential factor to understand is now is the best time to begin creating an online marketing system.



The online industry is never crowded and it is not difficult to search for a market niche that even a small business can dominate. People are always searching online for what companies can offer them. The Internet recompenses people who maintain their presence online for a long time with habitual updates. This means that competitors enter the industry in order to be the leader because first movers have the advantage. Small business should establish their own website first in order to benefit from the invariable flow of traffic that comes from their presence online.

Answer 163

Maintaining current status.