Top Money Struggle of Entrepreneurs and Business Owners

A couple of weeks ago, I conducted a survey because I wanted to know what entrepreneurs struggle with the most in the business.

I asked the participants one question – What’s the #1 issue you’re having right now with profit, revenue or cash flow in your business?

And here’s the verdict…

28.6% said Cash Flow – which includes revenue and profit challenges.

21.4% said Pricing

21.4% said Other – which includes mindset, action, balance and other areas of personal development.

17.9% said Marketing

10.7% said Sales

Because I get totally excited about the numbers I noticed that cash flow and pricing combined, accounts for 50% of the challenges that business owners are facing.

Below are some ways to fix the challenges as it relates to cash flow and pricing:

1. Know, track and monitor your numbers monthly
2. Identify your cost of doing business so you can price your products and services accordingly.
3. Market your business consistently – online and offline.
4. Pick up the phone and share your business with your network. Stop waiting for a website or business card design to be finished before you share what you do.
5. Don’t be a business card collector be a connector and solution provider.

What’s your #1 issue as it relates to cash flow, revenue and profit in your business?