Measuring the growth of small businesses

I am from a small township, and I want to raise concerns on how the number of failed businesses continues to rise. Most of the businesses seemed to be flourishing in my town, for them to fall this way is unbelievable.??

I ask myself, what went wrong? Can the trend be stopped??

As entrepreneurs/business owners, you face challenges that are difficult to solve by yourself. You do need assistance in fields you are not a specialist in. This could be your financing, maintaining profitability, increasing revenue, or uncertainty over economic conditions. These issues need to be addressed by managers, or owners to have a sustainable business that can serve as a legacy for themselves.?

The management team and owner lack knowledge; this is not because of your background or the level of qualification. This is mainly because most managers don’t practice continuous learning. Attending business seminars, reading business books to understand the field you are in, and learning about the history of people in your field.?

The target market is one element that proves to challenge small business founders not to succeed. This is because no market research was done before the starting phase of the business. Sharing a market is difficult especially when there is an already existing business providing the same services or products. When you share the market, it is either you provide better quality or provide cheaper products.?

Lack of resources can lead to the business using low-quality material that can work for a while but provide difficulties in the long run. Having low financial background and assistance means you cannot compete with other businesses on a large scale. These businesses have a vast number of customer loyal. Customers find it hard to switch to other businesses especially if they have been with that business for many years?

As a junior Salesforce app developer, I can relate to this topic, and with plans to venture into entrepreneurship, these are issues that I need to be aware of. Using technologies and applications that can automate your business operations will be beneficial. Salesforce provides valuable insight into how customers behave, respond, and react to marketing campaigns. It provides information regarding marketing trends, leads generation, and management.