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What Are The Challenges Of Business Growth? | Shamika Staggs

This presentation will teach about the challenges a business owner faces while running a business. Shamika Staggs, an experienced business owner, shared her experience with a view, what challenges they face and how to deal with them. Wish to know more about business and its strategies, you can contact Shamika Staggs. https://opencorporates.com/companies/do/621772

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What Are The Challenges Of Business Growth? | Shamika Staggs

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  1. Challenges Of Business Growth? Shamika Staggs Deep analysis of business challenges by Shamika Staggs

  2. Customers: Customers are the lifeblood of any company. Without clients and money, a firm is nothing more than a good idea. One of the critical issues they faced was acquiring, keeping, and maximizing their clients.

  3. Marketing: Most people in business are not marketing experts and require strategic direction when developing a corporate strategy, marketing plan, or campaign, as well as assessing the channels via which they wish to advertise their brand. The task is to enable the company to convey its narrative to allow it to expand and increase client involvement. Bringing in an experienced marketer to help design this approach, either in-house or as a consultant, can free the business owner to focus on what he does best.

  4. Financial Management: By observing many businesses, Shamika Staggs says, it is critical for a small or medium-sized business to manage its cash flow successfully, but for some business owners, managing the P&L seems to be the third or fourth ‘order of the day.’

  5. Processes: Because many business owners are unfamiliar with all of the processes required in running a firm, the difficulty is to simplify those processes. An external consultant or expert support can be beneficial in this situation. Businesses that fail to manage sales, marketing, company development, customer loyalty, operational management, HR, and staff development might fail. Stretching yourself over multiple business functions is not the ideal strategy for a business owner to grow their company.

  6. Getting sound financial guidance from a consultant who analyzes business performance, looks at old debtors, analyzes client profitability, and puts proper financial planning procedures in place reduces the chance of going bankrupt.

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