Most small business owners will need help at some point. Two of the most difficult aspects about small business help are knowing that help is needed and realizing where to turn for help. Small businesses typically involve entrepreneurial and independent people accustomed to working on their own, so asking for help can be easier said than done.
The need for timely and practical small business solutions often starts with one specific question or problem that just won’t go away. Whatever prompts a sense that help might be needed, it is highly recommended that viable solutions be examined before it is literally too late. Timing is everything, especially when it comes to effective small business help.
Solving Commercial Financing Problems
I prepared a short video presentation covering several financial topics that represent an excellent starting point for any discussion of small business help. Among the timely problems and risk areas covered are the following:
- Eight Recurring Problems for Small Businesses
- Five Candidates for Improved Business Finance Communication
- Eight Areas to Use Commercial Finance Negotiating
- The FDIC Problem Banks List
The “Right” Small Business Help Can Be Hard to Find
Problems for small businesses come in all sizes. Practical and effective business solutions should be sought for the highest-priority problems in a timely manner. Help might realistically be required to decide which problem should be tackled first.
When looking for viable solutions, the most obvious possibilities might not be the best choice. The need for creative new ideas is where the “outside of the box” concept originated, and the term is now typically associated with finding new solutions rather than relying on old and ineffective solutions.
The most difficult business problems are those likely to need “outside of the box” business solutions. While it will not always be apparent that thinking outside of the box is required, there have been a number of significant changes impacting most small businesses and commercial real estate financing during the past several years. Anytime change is involved is a good indicator that different business solutions will be required (or should at least be considered).
The Need to Eliminate Recurring Problems
Another situation requiring new business solutions is whenever the same problem keeps recurring. The video presentation described in the first section above discussed eight areas that typically serve as repeat problem areas for most small businesses. Three examples include business communications with other companies, excessive operating expenses and financial negotiations with your commercial lenders.
Does your business have “the same old problems?”
Here is a SlideShare presentation that I prepared to illustrate helpful perspectives about choices and risks:
