Being a leader in executive coaching in New York City, New York, we are here to share our expertise on the common risks of starting a business so you can be ready.
- Managing your cash flow
When starting a small business, managing cash flow is an acute risk. Many new small business owners fail to properly manage their cash flow due to failing to cut surplus expenditure or failing to raise cash either from improving sales profit or through equity financing.
- Finding a niche and marketing
Many new small businesses fail to meet the demands of the market. It can be difficult to find your niche and market your value that is why you need to make sure that you are paying close attention to what customers need and want through thorough market research.
- Ineffective sales strategies
As a small business, you need to find ways to generate sales constantly. Do not be complacent. Recent data shows that over 80% of consumers abandon their carts. So, you need to tailor your sales and content strategies to your target market, simplify your buying process, tweak your product descriptions, and optimize your website or store.
Do you need CEO coaching in New York City? Then let John Frederick Furth help you. We can help you all with starting a business so you can become a successful entrepreneur.