Growing a small business is demanding on many fronts, but for many business owners one of the hardest tasks is to successfully recruit, hire and retain new employees. Finding the right talent and building your team is hard for every business, but in a small business the challenges and risks are greater.
One of the great challenges small business owners struggle with is diversification of income streams. It takes so much time and energy just to keep the core business going that many longtime small business owners face the serious risk of putting all of their financial eggs in one basket.
Small retailers have many priorities to address as they seek to thrive in today’s hyper-competitive marketplace – especially as the bricks-and-mortar retail sector consolidates and online retailing continues its rapid growth. Priorities typically include selecting the retail location; outfitting the store with fixtures and displays; and selecting products to offer.