3 Worries of Small Business Owners

Starting your own business is an exciting venture but can cause many concerns and worries.  While you prepare for your business by obtaining business licenses, conducting market research, writing your business plan, and obtaining financing, there are other things that can cause a new business owner stress.  Where will your customers or clients come from?  Will you be successful?  Will your business be sustainable throughout the ups and downs of the economy?

Worry #1 - Finding Clients/Customers

Finding clients is a huge worry for small business owners, especially those who are just starting out.  Without clients, you have no business. Networking and having an online social presence helps to get your business noticed and helps with finding clients but you must be persistent and consistent with your marketing efforts.  Finding new clients is not enough - retaining them is crucial and can be another worry for small business owners as well.

Worry #2 - Maintaining Financial Stability

You have your clients and your business is rolling!  You are doing great with managing your money and putting aside enough for taxes, employees, insurance, and overhead costs, but what does the future hold?  Will your business continue to do well enough to remain financially stable?  Businesses large and small have worried for years about the economy but the good news for small businesses is that as the economy improves, your business can benefit greatly.  The key is preparing your business for another fall in the economy.  Uncertainty of the future is a big worry for small business owners but being financially prepared for another drop in the economy will help reduce your worries.

Worry #3 - Business Growth

Business growth is essential for survival.  As you know, finding clients, retaining them, and maintaining financial stability are important to your business, but don’t settle for just a few steady clients.  You must continue with your marketing and networking to keep your name out there.  Don’t get too comfortable thinking your business will grow with a few clients – clients can come and go. 

There is a lot of risk in starting a business but don’t let your worries prevent you from following your passion.  You’re not alone with your concerns.  Those who are successful are the ones who take risks.  Follow your passion, take that risk, and let success find you.