The #1 reoccurring mistake that I see amoung small business owners is a lack of focus. The market is full of noise constantly vying for our attention, it's easy to get distracted or caught up in something you shouldn’t be. The importance of “NO” Instead of being “YES” women & men, we need to say NO more often. Its much easier said than done, but we need to be careful not to spread ourselves too thin. I forget who originally said this but I will update it when I find out, “It’s better to be mile deep and an inch wide, rather than a mile wide and an inch deep.” We will get far better results if we focus on our biggest opportunity, the one that makes us the happiest, and the one that allows us to utilize our core strengths. 2. 80/20 Rule: Use Strengths 80% of your time, and spend 20% or less outsourcing your weaknesses All of us carry a unique set a skills. Some may be excellent in sales or marketing, while others may excel in operations or finance. As entrepreneurs, we must invest the time to develop self awareness to play to our strengths and outsource our weaknesses.

The biggest one over the last year has been learning to operate in a non-face-2-face world of digital interaction. An online presence is more essential to businesses now than ever before.

1. We don’t have enough money. 2. We are not able to get new customers. 3. We are not able to keep existing customers. 4. Our revenues are too low. 5. Revenues are OK, but profitability sucks. 6. Our employee turnover is too high. 7. I need to sell this business. 8. My business partner is a jerk. 9. We’re having quality issues with our products. 10. Our website sucks. 11. We’re constantly out of office supplies. 12. We need to move to bigger space. 13. I think one of my employees is a drug addict. 14. We hired somebody and we didn’t realize they had a criminal record. 15. Our prices are too low.

The pain points for me have been: sales and marketing; Cash flow; Time management; Finding qualified contractors for temporary assignments.

The pain points for me have been: sales and marketing; Cash flow; Time management; Finding qualified contractors for temporary assignments.

Three things small to mid-size companies struggle with, which equal PAIN. #1. Profitability. Most entrepreneurs struggle to get truly predictable profit. #2. Scalable. Once past profit, companies tend to really struggle to standardize systems so as to maintain predictablity in profit while growing operations. #3. People. Companies are in a fist fight for skilled labor. Small to midsize companies must develop an intentional company culture in order to attract and maintain desperately needed talent. The #employee is the new customer as most new hires stay an average of 18–24 months. My book Driving Demand on Amazon squarely addresses each of these concerns as well as #4, how to profitabily exit a business, building systems that assure sustainability for new owners.

For my commercial truck parts manufacturing sales business it was scaling inventory. Our sales growth grows pretty steadily and rapidly at times when we land a customer with 50 to 500 locations. I always tried to discuss with them buying timelines and get an idea of their inventory needs for individual and or all locations. What I found through my experiences is a lot of national chains like Speedco loves as an example are very disorganized in their purchasing. It's almost as if it's an overlooked area in their business model. They always act as if they want to purchase centrally and distribute out to all the locations which would make the most sense financially, but in reality it's a hodgepodge of chaos where every location is ordering from a different vendor, for different things, and a different times. Some of it is just the nature of business and some of it is just unplanned chaos. We once landed a customer with 86 locations that primarily bought individually from whoever they chose to buy from locally. The purchasing contact with sophisticated enough to organize all locations and to purchasing from us...... The hard part was they all ordered at once very unexpectedly. Manufacturing usually takes about 55 days for the commercial truck parts and then depending on which country the factory is in it can take 30 to 45 days for us to receive. Just that timeline alone when we do a purchase order we have to buy months worth of inventory at a time to count in the average sales growth and an unexpected demands. This is a challenging task even when you have high net profit margins. I had to go out and get an 11,000 ft² warehouse with about 24 hours notice once That was a nightmare. We've only ran out of two or three items one time in our 7 years.

Now that's a pretty broad question :) I'd say everything about cash-flow, and specifically having enough of it, is the main issue in most small businesses.

Being a lazy app developer or someone who tries to crowdsource problems to start a new business.

Guess who answered the question? Small and medium business owners face a wide range of pain points, some of the most common include: Lack of funding: Many small businesses struggle to secure the financing they need to get started or grow. This can be a major obstacle, as it can prevent businesses from hiring new employees, expanding into new markets, or investing in new equipment. Competition: The small business landscape is increasingly competitive, as more and more businesses enter the market. This can make it difficult to stand out from the crowd and attract customers. Regulation: Small businesses are often subject to a complex web of regulations, which can be time-consuming and expensive to comply with. This can be a major burden, especially for businesses with limited resources. Technology: Small businesses often lack the resources to invest in the latest technology, which can put them at a disadvantage against larger competitors. This can make it difficult to automate tasks, improve efficiency, and stay ahead of the curve. Marketing: Small businesses often have a limited marketing budget, which can make it difficult to reach their target audience and generate leads. This can be a major obstacle, as it can prevent businesses from growing their customer base. Employee management: Small businesses often have a small staff, which can make it difficult to manage employees and ensure that they are productive. This can be a major challenge, especially for businesses with inexperienced owners or managers. Time management: Small business owners often wear many hats, which can make it difficult to find time for everything. This can lead to stress and burnout, and can make it difficult to make sound business decisions. Work-life balance: Small business owners often have to work long hours, which can take a toll on their personal lives. This can lead to stress, family problems, and health issues. These are just some of the pain points that small and medium business owners face. By understanding these challenges, entrepreneurs can take steps to mitigate them and improve their chances of success. In addition to the pain points mentioned above, small and medium business owners may also face challenges related to: Customer service: Providing excellent customer service is essential for any business, but it can be especially challenging for small businesses with limited resources. Legal issues: Small businesses need to be aware of the legal requirements that apply to them, and they need to take steps to protect themselves from liability. Risk management: Small businesses need to be prepared for unexpected events, such as natural disasters or economic downturns. Growth: As a small business grows, it will face new challenges, such as managing expansion, hiring new employees, and developing new strategies. Despite the challenges, small and medium businesses can be incredibly successful. By understanding the pain points that they face and taking steps to address them, entrepreneurs can increase their chances of success.