Barriers to Business Growth – How You Can Remove Them

Facing different barriers is something we all have in common. But what separates the good from the great is how we handle those restrictions. Some individuals allow restrictions to derail them, while others keep going until they win. 

Most obstacles can be avoided. They often come from unmanaged emotions. Or entrenched habits and common mistakes we make with other individuals. When we don’t pay attention to these barriers, they inadvertently become emotional robbers that we give access to our lives. They sap our focus. Deplete our mental strength. And sometimes destroy our most significant initiatives. 

So what can be done to shut the door on these limitations and make the most of the opportunities to grow our business and remove any obstacle standing in our ways? Below are six strategies to help you overcome. 

When it comes to individuals, pay attention to your gut

We all have an instinctive radar. This radar informs us when we are about to make a mistake that involves a person or a group of individuals. Quite often we as humans don’t heed the warning. 

Research has shown that one in four start-ups crumble due to managerial incompetence. 

Therefore, selecting the correct individuals, in particular co-founders is very important. Some entrepreneurs choose co-founders based on friendship. 

At the beginning of starting your business, you may not pay attention to your gut feeling that tells you the person you are considering doesn’t have the managerial aptitude. Being lost in excitement can fog your vision. They may not have implementation skills or have poor strategic thinking. 

For this reason, instead of helping you overcome your weakness, they may make it worse. Don’t allow this barrier to obstruct the establishment of your business. You can also opt to buying DERV fuel in bulk direct to save on operational costs.

Make good management a leading company value

Research has found that “living too high for the business” is the main reason for failure. This is one barrier you can avoid easily. Finding an organization that gets some funding and starts spending like  a Fortune 500 company is not uncommon. Elation and the adrenaline of winning quickly replaces common sense. In essence, keeping a small company mindset is excellent advice to ensure the growth of your establishment. 

Make yourself aware of the dangers of emotional pricing 

One of the key challenges confronted by business owners is having the correct pricing method for their services and products. At times the price we charge is dictated by our emotions. 

For example, we may be scared to lose a sale and begin charging very low. Thereby dropping our profit margins continually. This can cause grave obstacles for your business in the future. 

Contrary, emotional pricing can be egotistical. It can emanate from a feeling of pride. Some experts refer to this as a “hollow win”. You need to make this decision with your head and not your heart.

Be mindful of what your costs are. Keep an ear out concerning your competitor’s prices. And reevaluate your prices periodically.

Let go of what doesn’t serve you

Some of the services and products you add to your business package may not be suitable. We usually love our services and products the most. And therefore it’s hard to let go of something that no longer services us. 

It’s almost like we erect a wall that stops us from noticing what is blatantly clear to others who are outside the organization. In other words, you need to assess what no longer serves you and be bold enough to walk away before it becomes a big limitation.

Take on new strategies

Some barriers are caused by ingrained habits. Holding on to outdated methods and ways of running a business because it’s what we know well. An example of this is depending on outbound marketing tactics without thinking about the impact of inbound marketing strategies. 

Inbound Marketing was pioneered by HubSpot. This method entails drawing customers through using many methods. Like podcasts, blogs, social media marketing, videos, and other ways of content marketing. It is the forebearer of outbound marketing that incorporates strategies like cold calling, spam, and direct mail among others.

Keep to what you know well

Finally, keep things simple and stay glued to what you know. Don’t include additional layers to your business, rather stay on track with your core product. If you have strong faith in your product and are aware of the amount of value it brings. Then don’t go searching for other exciting avenues. 

Just be wary of diversification, this is a general growth inhibitor that most ventures suffer from.