An SMB struggles to cope with many variables at different levels. May it be manpower resourcing, investment and funding, to branding and marketing strategies – the challenges that an entrepreneur of an SMB faces are uncountable. Thanks to technology, an entrepreneur does have options to convert the challenges into opportunities for business success.
If there is shortage of qualified employees in your area or location, opt for online workforce that can work from remote locations, and still fulfill daily job responsibilities and goals. This will not only be an added advantage in terms of having an multi-cultural team, but also benefit the business in understanding the customers better, through view points of local workforce!
If funding is a problem, and investing in commercial office space or extensive infrastructure is too daunting, opt for shared workplace property, where you can still have decent place to work at while staying out of the comfort of the home. Investing in heavy equipments and space can be drastically reduced by opting for subscription based services. For example, instead of spending on fax machines and telephone lines, you can opt for online fax, and use email to fax the documents without compromising on the fax quality.
If branding is a concern, and you are unable to portray yourself as a big-brand or MNC on your customers, utilize the opportunity to portray your company as small yet dedicated and expert in its services or products, following global standards to deliver personalized and custom solutions for your clients. A personable approach is much more valued by customers rather than just being bombarded with adverts and non-customized messages and selling techniques.
Being an entrepreneur and running a successful business is an uphill task; yet it is rewarding in every which way a person can imagine in terms of work-satisfaction, and sense of achievement.