Common Challenges

Different businesses often experience very similar challenges. This is good news. Rather than invent solutions, apply ones that have already worked elsewhere.

Solvable Problems

Signs of trouble vary, common ones include:

• Have plans but the organization isn't following them
• Uncertain about cash flow or bank balance
• Overworked and overwhelmed
• Don't understand why IT costs so much
• Can't find or keep good executives
• Financial reports aren't believable
• Held hostage by key staff, e.g. a top sales producer
• Software delivered doesn't perform as expected
• Revenue is increasing but profit isn't
• You want to retire but can't

Here are some of the common causes:

• Nothing is written down
• No Business Plan, Marketing Plan or Sales Strategy
• No Financial Projections or Budget
• No succession planning
• Unclear organization, reporting, or job descriptions
• Not focused on managing critical factors
• Unsuccessful delegation
• No accountability or no performance management