The Hardest Thing In Business...

[moo-tique]

What have you found to be the hardest thing in setting up or running a business?
Interested to know your thoughts...

 

[Opinion87]

Adapting to service a markedly different type of customer to our planned target market has been challenging, and fun.

 

[Paul Murray]

Knowing what to charge probably, especially as a service business, and doubly so when you're just starting out on your own. You need to price competitively enough to win work and not be under-selling yourself, but high enough to cover your costs and make a living.

 

[MOIC]

The lack of proficient staff that want to work as an employee/manager.

It's seems to be a case of. . . . Work for one year, learn the ropes, then start their own business.

 

[bigsie]

Getting the best advertising/marketing results for your hard earned cash !

 

[alanc]

Staying ahead of the competition/technology/anything-else

 

[adamcooke]

What have you found to be the hardest thing in setting up or running a business?

Spending any marketing budget wisely. I'm sure we've wasted thousands on marketing over the years through not really making the most of opportunities.

 

[beasty]

No one ever learned from doing it right first time

 

[Mitch3473]

Adapting to service a markedly different type of customer to our planned target market has been challenging, and fun.

Boy, can I relate to that..........

 

[mit74]

Dealing with non-paying or difficult customers who expect everything but don't want to pay. I would never have believed how dishonest people were when it comes to paying what they owe even if they've had good service. The percentage of customers who don't pay and need threats of interest or court is ridiculous and it's a massive time suck chasing outstanding invoices.
My goal is to be in the position were I can say 'sorry I don't need your work'.

 

[alasdair1982]

IMO The hardest part of any business are the customers.. Business would be a doddle with out them.. If only i could come up with a successful business idea that didn't rely upon customers !!!!

 

[tony84]

Aside from setting up and getting going - expanding.
I have gone through 2 administrators, attempted to take on an advisor and am now on to a trainee advisor, 4th time lucky maybe!

Everything else has gone quite well for me really. Im doing far better than I expected.

 

[cjd]

Everything......

 

[Tombo46]

My goal is to be in the position were I can say 'sorry I don't need your work'.

After launching my online store that serving the public (who all pay in cash or pre-auth card) I decided I didn't need the hassle of chasing my catering orders for money anymore. It was massively satisfying paying them a visit and explaining that I was no longer supplying them etc. I was very polite about it and explained why but they were just gobsmacked. I gave them a list of suppliers I trust and warned said suppliers to be stricter than I was in regards to credit so we parted ways on good terms. They even paid me! Now I just have 1 catering customer who is more keen on paying me than I am invoicing him haha.

To answer the OP's question. I own a greengrocers to start work at 2am so I can't be at the shop all day every day (tend to have a nap mid day) so the right staff is the most important thing for me and consequentially the most difficult thing. I recently fell on a "good one" and couldn't be happier right now but in the past I've had a lot of trouble =(

 

[Josh - FTZ Studios]

The leap to employing staff and growing the business further.

Most of you will know that one key to growth is delegation, so making the leap to employing new staff includes an office premises. A leap which is difficult but extremely worth it! We can all obviously outsource work, but personally, I like to my employees to grow with the business. They learn more, become extremely useful and ultimately one of the best assets your company will have! #acesinplaces

 

[HazelC]

Agreed with Paul Murray - knowing what to charge is the hardest part!

 

[Talay]

Staff and pay without any doubt.

The youth don't want to work, they want wi-fi on all day to play instead of work and they drop jobs at the slightest thing to go back to the dole and the largess of benefits, often supported by parents who have failed the test of producing grown up children.

 

[Opinion87]

Amen, Talay. Amen.

 

[willv]

Time management is probably my biggest issue. There always seems to be a never ending to do list, and I actually think I'm quite good at delegating jobs. The trouble is we're a start up business so my staff all still need my guidance because our systems are new to them.

 

[HB Trust Planning]

- Spending the majority of your time on the things that generate revenue, not those which don't.
- Finding a competitive advantage to legitimately differentiate you from competitors.
- raising finance when you need it at an affordable rate.
- doing the right thing, at the right time, whether you like it or not.

I think the last point point is simple, but essential for success. And it's sometimes the hardest part.