HOW TO OVERCOME CHALLENGES AS AN ENTREPRENEUR

Some practical tips on how to get your small business over common hurdles.

1. STAY CALM WHEN THE WHEELS COME OFF

When things go wrong and you’re not sure why, stop and take a step back. Review old accounts, emails and invoices to work out where you may have missed a step. Once you’ve identified the issue, establish the immediate actions you can take to address the problem.

2. KNOW WHERE TO USE YOUR MONEY

External factors could throw your business off balance. Make sure you’re managing the things you can – like your finances. Draw up a financial plan and stick to it.

3. KEEP TRACK OF WHAT’S HAPPENING IN YOUR TEAM

Keep your finger on the pulse and invest in your staff – small problems can become big ones if they aren’t addressed. Investigate issues as they arise.

4. SEE CRITICISM AS AN OPPORTUNITY FOR GROWTH

Be open, and practise active listening so you can understand and deal with a problem or area in need of improvement. We know what it took to get your business here. We also know that the first 1 000 days are the hardest. That’s why Santam offers insurance packages and an online hub offering advice for your small business. After all, when things go wrong, wouldn’t you want to be with the insurer that makes it right? Santam. Insurance good and proper.