Top 5 problems in business development

31 may 2022

It is impossible to build a business without facing problems. As an entrepreneur, you will have ups and downs. If you pay attention to obstacles in time, you can quickly overcome them. Not all difficulties are so obvious, but they can impede the development of your company.


Problem 1: fear of change and everything new

It is difficult to grow a business using the same strategy for many years in a row. It is much better to be flexible and adapt to any change. It is important to discover new opportunities, try new things, make changes in work, improving the service for your customers.

To adapt to changes, follow these tips:

  • Track trends. This way, you can find out what's new in business, marketing, the world of innovation and technology, as well as in your niche. You don't have to try absolutely everything new. It is enough to use those ideas that can increase the efficiency of your company;
  • Conduct competitor analysis. To get ahead of the competition, you have to keep an eye on their development. Also, watch out for foreign companies with whom you work in the same area. You can borrow fresh ideas from them and use them for your development.



Problem 2: lack of financial accounting

Many entrepreneurs lose their business because they do not spend time on financial accounting and do not consider it necessary to understand it. In fact, accounting for cash resources is necessary not only for the company to prosper, but also in order to make the right management decisions. To avoid problems in the future, you need to regularly prepare and analyze the following financial reports:

  • Balance. The firm's capital, assets and liabilities are estimated with the help of this report;
  • Income statement. It shows all income, expenses and results for the reporting period, showing the company's profit;
  • Cash flow statement. This report shows all the money received from the main sources.

Using the maintenance program Gincore, you will be able to control all the financial resources of your company and receive all types of reports. You do not have to count everything manually, because the system regularly records all transactions.

Take the time to understand financial accounting. This will allow you to plan your budget correctly, avoid problems and increase your profits. Using the maintenance program, you will control everything and make the right decisions.


Problem 3: no analysis of employee KPIs

For the successful development of the company, you need to know how your subordinates work. Their productivity is tracked using employee and department KPIs. Each employee is assigned specific responsibilities and a salary is paid for the performance of this work.

When forming a team, develop a system of criteria in order to regularly track KPIs in the future. Set goals, objectives and deadlines for each subordinate. This will lead to discipline in the team and increase productivity. As a result, you will be able to motivate employees to work better and allocate resources correctly.


Problem 4: your business is not customer-centric

First, your products or services are aimed at meeting the needs of customers, and secondly, at increasing the company's profits. You must understand that you are working for people, not for yourself. To find out how interesting your product is to the target audience, whether the service is working well, whether there are any problems, use customer feedback. Try to get as many reviews as possible: negative ones will allow you to correct mistakes, and positive ones will confirm that you are developing in the right direction and build a good reputation.

If you do not respond to negative feedback and problem situations, the quality level of the company will drop, and the number of customers will decrease. Potential buyers will go to your competitors. That is why it is important for you to always take care of people, do customer-oriented service and meet the needs of the customers.

Software Gincore provides the ability to integrate telephony, SMS and mailing to always be in touch with customers. There are also tools to get feedback on the employees your customers interacted with.



Problem 5: lack of control of goods

The lack of tracking of goods in any company creates a mess. Control is necessary in order to understand how many products you have left, in what condition they are and where they are. This will allow you to quickly collect orders, plan sales and purchases in the future. c Control of goods will help you to:

  • save work time;
  • serve clients faster;
  • track the turnover;
  • control finances;
  • avoid shortages and thefts.

Use Gincore for control of goods. This program has a module "Products". You can take inventory and check product availability, analyze assortment and sales, and understand which items are most interesting to your customers.


The best solution to problems

Now you know the main problems that can slow down your business and you can avoid them. Gincore will help you deal with these difficulties, as problems are better prevented than solved. The software is aimed at maintenance of all areas of business, which will help control the range of goods, orders, finances, work of subordinates, as well as analyze all business processes. By using the maintenance program, you will avoid many problems and reach a new level.


Try for free


This web service or its third party tools use cookies, which are necessary to its functioning and required to achieve the purposes illustrated in the Privacy policy. If you want to know more or withdraw your consent to all or some of the cookies, please refer to the Privacy policy. By closing this banner, scrolling this page, clicking a link or continuing to browse otherwise, you agree to the use of cookies.

Log into Gincore

Enter the subdomain of your account, login, password

Sign up