What Is Your Biggest Challenge as a Small Business Owner?

Jan 27, 2010, Written by Sue Miley

I came across these survey results on a Linkedin question today.
A recent survey of small business owners, of which 93% considered themselves entrepreneurs, produced the following results when asked: 

What would you like to learn about most? 

1. Marketing my business (18.7%) 
2. Growing my business (16.7%) 
3. Personal Growth (11.7%) 
4. How to Succeed (11.3%) 
5. Getting the most out of my employees (11%) 
6. Financial Management (10%) 
7. Dealing with pressure and stress (9%) 

When they were asked “What are the biggest challenges in your business?” they answered: 

1. Lack of money (21.5%) 
2. Attracting clients (18.2%) 
3. Finding the right staff (15.2%) 
4. Maintaining a balance between family and business (10.2%) 
5. Lack of support (10%) 
6. Lack of Business Experience (9%)
In my experience with clients in question #1 I have found that response #1 and #5 are the questions I most receive from clients
In question #2 I have found that the 3rd response – finding the right staff – is the biggest challenge with my clients by a much wider margin.
What about you?  If you are a small business owner or entrepreneur how would you answer these questions?  I would love for you to share in the comments!!

I came across these survey results on a Linkedin question today.

A recent survey of small business owners, of which 93% considered themselves entrepreneurs, produced the following results when asked:

What would you like to learn about most?

1. Marketing my business (18.7%)

2. Growing my business (16.7%)

3. Personal Growth (11.7%)

4. How to Succeed (11.3%)

5. Getting the most out of my employees (11%)

6. Financial Management (10%)

7. Dealing with pressure and stress (9%)

When they were asked “What are the biggest challenges in your business?” they answered:

1. Lack of money (21.5%)

2. Attracting clients (18.2%)

3. Finding the right staff (15.2%)

4. Maintaining a balance between family and business (10.2%)

5. Lack of support (10%)

6. Lack of Business Experience (9%)

In my experience with clients in question #1 I have found that response #1 and #5 are the questions I most receive from clients

In question #2 I have found that the 3rd response – finding the right staff – is the biggest challenge with my clients by a much wider margin.

What about you?  If you are a small business owner or entrepreneur how would you answer these questions?  Does being a Christian business owner change your response?  I would love for you to share in the comments!!

Reader Interactions

Comments

  1. Ken Sneed says

    Sue —

    I think that in question #1, the only one I’m not wrestling with at this time is #3 — Personal Growth. In fact, in response to question #2, the third response, “Finding the right staff,” is the only problem I don’t have to wrestle with — I love my staff . . . ME! My biggest problem with that is that my boss doesn’t ever give me paid vacations or sick leave!

  2. Pedro Moore says

    Interesting, I kind of had gut feeling of that stat, but now I actually see it, it makes senses. Many business owners have the great idea, but don’t know how to really sell/market it so that is an ongoing problem.

    Also, I didn’t know that many entrepreneurs have a interest in personal development. After seeing it, it makes sense but initially i wouldn’t have thought that.

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Sue Miley

Sue Miley MBA, MA, LPC helps small business owners build successful businesses on a foundation of Christian values. After 20 years in business, and 10 years as a Christian counselor, Sue uses a combination of faith, business and psychology to help clients in business and in life.

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