Career & Money

7 Small Business Challenges and How to Overcome Them

Your business is our business

For any business, providing quality service to customers entails keeping up with the most up-to-date tools and technology. Upgrading business operations may lead to obstacles, especially for small businesses.

Here are some of the hurdles you may encounter as a small business owner and how to best overcome them:

  • Accessing a fast and secure internet connection

    High-speed internet connection is a must, especially for small businesses that rely on e-commerce platforms or online collaboration tools. You wouldn’t want to get disconnected in the middle of a video meeting or while communicating with a potential customer, would you?

    Invest in an internet plan from a trusted provider. Be sure to check the plan’s speed and data capacity and get one that best matches your practices—be it for online collaboration, high-speed file sharing and more. Ensure that in the event of connection loss, your plan has a guaranteed uptime.

    The Globe SME Solution for You: myBusiness Fixed Internet Fiber

    myBusiness Fixed Internet Fiber allows you to connect with speeds up to 1Gbps, has high-quality video conferencing capabilities and remains stable even under inclement weather.

  • Optimizing operations and improving productivity

    In this digital age, making business operations more efficient means adopting new technology. Through collaboration tools and a reliable internet connection, not only can your business keep an eye on its operations in real-time, but you can also identify problems as soon as they arise—and resolve them before they escalate.

    The Globe SME Solution for You: myBusiness Starter Operations

    The myBusiness Starter Operations plans provide a reliable internet connection, landline phone and mobile device, as well as access to a tool for tracking logistics to make deliveries more efficient.

  • Keeping track of logistics

    With the unpredictability of traffic in the country, it becomes challenging to make delivery routes more efficient. Having the capability to manage logistics can reduce delays and help your business save time, money and effort.

    The key to more effective operations is careful planning. Properly documenting routes traveled, travel times and other critical logistical data over a set period of time can give valuable insights to help your plans.

    The Globe SME Solution for You: myBusiness Tracker

    myBusiness Tracker allows you to get real-time updates on your delivery fleet, generates trip summaries and reports to help you maximize efficiency. It allows for smooth coordination with both customers and drivers in case of any changes on the road.

  • Attracting and engaging new and old customers

    No matter what industry you’re in, competition can be fierce. Growing your business will involve nurturing the connection you have with past and returning clients while working to drive new prospects to you.

    Maintaining a social media presence is one of the most cost-efficient ways to reach your target market and connect with your customer base. Additionally, offering discounts or other benefits as a reward to old and returning customers is a proven way to earn their loyalty.

    The Globe SME Solution for You: myBusiness ThePlan

    myBusiness The Plan gives you access to M360 Text Blast Solution, allowing you to send customized promo messages in bulk and Rush Rewards, a highly-customizable rewards app. It can also assist you in bidding for Facebook ads.

  • Safeguarding against cybersecurity threats

    As more industries begin the shift to digital platforms and solutions, cybersecurity becomes a big concern. Poor cybersecurity will not only put your business in jeopardy but also your customer base.

    Consult with a cybersecurity expert to identify the possible vulnerable points in your business systems. Following this, orient your team on best practices to lessen the risk of attacks and threats.

    The Globe SME Solution for You: Globe Cybersecurity Solutions

    Globe’s cybersecurity solutions allow you to customize your security or work with a team of experts for all your concerns.

  • Handling cash transactions safely and efficiently

    Cash plays a vital role in your business—from managing the payroll of your employees to transacting with your customers. However, having cash on-hand can be risky and makes your business vulnerable to theft.

    Luckily, cashless transactions are slowly becoming the norm. Your business can offer options for cashless payments, which provide safer and more secure ways for money to change hands. Consider using digital financial apps to streamline cash disbursements internally, as well.

    The Globe SME Solution for You: myBiz Wallet

    myBiz Wallet is an easy-to-use and affordable digital cash app that allows you to transfer funds, monitor cash disbursements and manage company cards anytime, anywhere.

  • Improving and growing your business

    While having stability is good, you may want to take your business further. Naturally, it may be challenging to figure out where your business can improve and what opportunities it has to grow.

    Take advantage of any learning opportunities, from government programs for SMEs to industry seminars, networking events and the like. You may also want to seek help from an online community in your industry or even a mentor.

    The Globe SME Solution for You: myBusiness Expert

    myBusiness Expert connects you to a professional Account Manager who can assist with handling key operations and give recommendations to fit your business needs.

With the right tools, your small business can stay ahead of the competition. The key is to pay attention to each aspect of your business and focus on solutions that can help you make them more efficient.

Keep your business growth on track by checking out Globe SME Solutions for a plan that works best for you.

Art Alex Lara

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