There are many types of challenges that can come into a business' life. If you allow the challenges to build up and overwhelm you, then it might be time to seek professional help. The truth is that many small businesses can fall victim to the "Chaos is Good" school of thought. Chaos is good because it creates opportunity.
One of my favorite sayings is " Organizations don't fail because they don't know what they are doing. They fail because they don't measure things enough." These challenges don't take away from the business itself or the owners individual knowledge base, they just increase it. In fact by facing challenges head on and defining them as opportunities, the business will become more powerful.
There are many challenges in any business, and most are not insurmountable. There are challenges that you can weather and others that will cause you heartache and hardship. You might even be lucky enough to be faced with a challenge that comes without a corresponding "roller coaster" effect on your business. These are the challenges that you will want to weather.
Challenges in running your business are not always good for you. In fact, if you do not deal with them they can become very detrimental to your business. When facing a challenge it is important to remember that you are working on the same ship as your competition and they are using every opportunity to beat you. While you can adjust your tactics and attempt to outsmart your opponents, you never know when they will pull the rabbit out of your hat. In order to keep your ship in good shape and your business running smoothly, you have to get your ducks in a row when it comes to dealing with the various challenges you will encounter.
It is very important to be honest when you admit to having challenges in your business. People who are dishonest and are not transparent will eventually find out. Even though the small guy may have initially thought that it would be a good idea to hide his losses rather than admit he was out of business, it won't end there.
No matter how big or small your company is if you acknowledge to any challenges that may come your way you will get over them. You might think that admitting you don't know something is silly, but that is actually not the case. If you don't learn new things, you aren't going to move forward. Challenges in the business world bring out the best in people and allow them to get better at what they do. By figuring out how to overcome the challenges you face you will advance your career and even help others do the same.
Just because you are a small business doesn't mean you can't take advantage of the challenges that come your way. If you are honest with yourself and realize that you can't figure something out on your own you can still get help from an outside source. The great thing about being a leader is that they can get involved with your business so they can see where you are failing and how you can improve. By having a mentor who sees your flaws that others can see your potential you will build your business faster and stronger.
It is important to be honest with yourself about what you can and cannot control in your business. For example if you find that one of your customers is becoming unreasonable you need to tell yourself that it isn't your fault. It might seem like a huge ego boost when you let your pride get in the way of running your business, but you need to remember that if you constantly say that you can't do something then it simply won't happen. By owning your failures you will build up more confidence in yourself and in your business. When you have more confidence you will be more likely to face the challenges that come your way as well as accomplish more in less time.