Business owners face many obstacles in a changing world. Looming healthcare regulations in the U.S. have upset business owners and entrepreneurs on grounds of everything from cost to religious convictions. These challenges are par for the course and something all entrepreneurs must face. How you overcome obstacles will determine your success growing your business in the long run. Here are some of the many difficulties business owners must face and some advice on overcoming them.
Challenges & Change
Tilting at windmills. Domino?s founder Tom Monaghan, though no longer involved in the pizza chain he helped create, is suing the federal government because new healthcare regulations will force him to provide contraception coverage for employees of a Michigan office complex he owns, despite the fact that he says doing so is against his Catholic faith. Meanwhile, David Overton, CEO of the Cheesecake Factory and other entrepreneurs wonder about impact new healthcare legislation will have on their businesses. Huffington Post
Happy New Year. Healthcare law or not, every year brings new challenges to small business owners and entrepreneurs. The best way to handle them is to spend some time at the end of each year contemplating the changes that might be coming, says Glenn Muske, Rural and Agribusiness Enterprise Development Specialist at the North Dakota State University Extension Service. Make a habit of examining coming challenges and changes likely to impact your business at least once a year. Small Biz Survival
Rising Above It
Critical mass. No matter what line of business and regardless of changes in regulations or markets, all entrepreneurs face one common obstacle at one time or another. That obstacle is naysayers and critics more eager to tear down your brand than to give any relevant feedback. In fact, strategic marketing consultant Steve Miller is of the opinion that genuine feedback is in such short supply, he?s not certain he even believes in the phrase ?constructive criticism? anymore. Ignore the critics and do what?s best for your business and your customers. Two Hat Marketing
Mutiny on the bounty. There are times it doesn?t pay to ignore what others think. This may be the case if bad morale is rampant among your employees. In fact, if your employees aren?t happy or doing their best, it may be your fault, says marketing specialist and copywriter Shannon Willoby. Fortunately, there are some simple steps you can take to turn your business culture around. The way your employees feel about you and your company makes a big difference in their productivity and ultimately in your success. It?s time to address it. Scott?s Local Business Corner
Time to go. Of course, the worst case scenario in the situation mentioned above occurs when employees become so fed up that they walk out the door. Bernd Geropp acknowledges there are times when your employees leave you for career improvement and better opportunities. At times like these, you should be happy for them and wish them well. Unfortunately, all too often, there are other motivations involved. High turnover at your business can cause considerable challenges. If there is a way to retain your people longer, you owe it to your company to examine it. More Leadership, Less Management
Lofty Goals
I can see for miles. Perhaps the best way to create a company culture designed to overcome obstacles is to adopt a company vision. A vision can bind your team together giving them a common goal and a clear path forward, says business adviser Brad Farris. Here are some broader benefits you and your business can derive from developing a clear and compelling vision. EnMast
Don?t be a copy cat. The digital revolution has brought about some unpredicted results. Digital technology has made it easier to duplicate and disseminate information than ever before in human history. Arguably, the best result of this revolutionary change has been the lowering of barriers for those seeking to publish content on many subjects at little or no cost, and the rise of the information entrepreneur. The worst result may be the cheapening of that content because of how easily it can be copied by others. This has given rise to another challenge, how to create unique value in a cookie cutter market. ClickNewz
Source: http://smallbiztrends.com/2012/12/dominos-pizza-founder-sues-over-healthcare-mandate.html
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