Although these are not the only “stoppers” that companies in the sector face, they tend to be quite recurrent.
1. Digital presence: ALWAYS optimize the online presence gives us many advantages over the competition. Let’s focus our efforts on capturing the attention of our potential customers. Use a content strategy adapted to your channel and optimize everything you can.
2. Balance your growth engines:. Don’t obsess over every detail, but over the details that are really important to your business. Obsessing over perfect production, for example, is not as important as obsessing over customer service. Define what your overall growth objectives are and launch a product that may not be perfect now, but you can always upgrade and improve it.
3. Financing: The battle with unproductive financing is a common problem among SMEs. It often has to do with bank loans being personal rather than business loans. Another reason for bad financing is the consequence of having only banks as lenders. Also take into account possible private investors or consider other options. Today they can be extremely profitable for small businesses for example: crowdfunding campaigns.