Tag Archives | business issues

Business Issues Survey – Final Results

This time last year, we posted a survey asking you what business issues were causing you to lose the most sleep: 1) lack of training, 2) turnover, 3) cash flow, 4) managing growth, or 5) losses or declining profits.  We tallied the results as of June 2014 and posted them on our blog. We also re-opened the survey to see if anything had changed, or if the same issues were still causing insomnia.  The results of both surveys are summarized in the graph below.

Business Issues Survey Results

business issuesWhat’s really interesting to note is that while cash flow and declining profitability were among the most troublesome issues in the first survey, those issues took a backseat to personnel issues such as lack of training and high turnover in the second survey.  It would appear that as companies became more profitable and cash flow improved, employees became more optimistic and began to look for other opportunities leaving a talent void in their wake.

Unavoidable Business Issues

We included a “write-in” issue in the second survey whereby participants could list other issues that they were struggling with.  Once again, lack of talent and difficulty finding good people led the responses.

So what’s a company to do?

Business issues are unavoidable, but understanding how the resolution of one issue (lack of profitability) can give rise to another issue (turnover) is key to developing plans to mitigate these issues.

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business issues

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What Business Issues Keep You Up?

As a business owner, I often find myself lying awake at night worrying about issues my company is facing.  Are we making as much money as we should be?  How is my cash flow?  Do I have the right team to grow the business?  These are just a few of the questions that cause me to lose sleep.

What Business Issues Keep You Up?

My guess is that I’m not alone in my insomnia, and I was curious to know what issues are keeping others up at night.  I put together a brief survey of some common business issues and solicited responses from my clients, colleagues, referral partners and members of our LinkedIn group.  I asked them to rate these issues on a scale of 0 (sleeping like a baby) to 5 (Ambien please!).  Here are the results so far:

 

up at night survey graph

 

Based upon these results, it appears that cash flow issues are currently demanding most of your attention.  Not surprisingly, managing growth comes in a close second as rapid growth is often the chief cause of cash flow problems.  I’m curious to see if turnover will become more of an issue as the economy continues to stabilize and employees begin to seek new opportunities.

What financial issues do you think are the most pressing for your company?  We’d love to have your input, so click here if you haven’t had a chance to submit your answers yet.  Stay tuned for updated results…

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business issues

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