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Sat Feb 4, 2012, 09:59 AM

What the main issue your business is facing today?

I just survived tax prep relatively unscathed. I was so annoyed looking at what we paid in merchant service fees before I switched to Costco processing. Damn, that was a lot of money.

But the most serious issue we have now is finding good, stable employees. And before anyone pipes up about pay and benefits, let me say that hasn't made much of a difference so far. We seem to have hired people with lots of family/home life drama and there's no way to know about this before we hire.

What's going on with your business?


Edited to add: We are also up for lease renewal and looking at other spaces. Moving won't be fun but we have not had a good experience with our landlord. Just two days ago someone walked in with information about a nice space that I would love to grab but the numbers have to be favorable and we won't talk about that until we look at it.

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Arrow 13 replies Author Time Post
Reply What the main issue your business is facing today? (Original post)
Phentex Feb 2012 OP
cantbeserious Feb 2012 #1
jimlup Feb 2012 #2
lumberjack_jeff Feb 2012 #3
Manifestor_of_Light Feb 2012 #4
socratesone Feb 2012 #5
Phentex Feb 2012 #6
salin Feb 2012 #7
tosh Mar 2012 #8
Broderick Mar 2012 #9
baracuda Mar 2012 #10
ppiclaims49 Sep 2012 #11
trishnikolic Sep 2012 #12
GMR Transcription Oct 2012 #13

Response to Phentex (Original post)

Sat Feb 4, 2012, 10:01 AM

1. Declining Demand For The Services Offered

eom

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Response to Phentex (Original post)


Response to Phentex (Original post)

Sat Feb 4, 2012, 08:39 PM

3. Marketing and Creating demand

We return from tradeshows (or purchase full page ads in trade magazines) filled with optimism, only to wait idly for the phone to ring.

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Response to Phentex (Original post)

Mon Feb 13, 2012, 12:55 AM

4. Demand drives the economy.

The supply siders of the University of Chicago school have got it wrong.

I don't even bother making and selling things because there is no demand.

People really gush over my stuff, but don't have money to buy it.

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Response to Phentex (Original post)

Sat Feb 18, 2012, 10:02 PM

5. thugs

There's this gang of thugs that keeps harassing me for protection money. If I don't pay them, they'll throw me in the rape cage.

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Response to socratesone (Reply #5)

Sun Feb 19, 2012, 06:49 AM

6. You poor thing.

What is your line of business?

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Response to Phentex (Original post)

Tue Feb 28, 2012, 09:26 PM

7. finding, training and retraining

high quality employees.

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Response to Phentex (Original post)

Fri Mar 9, 2012, 01:12 PM

8. The same as you and Salin - staffing & training

It seems lately that people who are good with our technology are not so good with customer service and vice versa.

In our biz we can't seperate those areas.

LOL (with you, not at you!) - I don't care if they have family/home life drama as long as they leave it at home. It's workplace drama that I hate. We once had tons of drama but now that's been "retired".

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Response to Phentex (Original post)

Sat Mar 10, 2012, 12:27 PM

9. I feel things have turned around the last four months

Trending up. I see increases in sales of 27, 29, 8, and 15 through February. We were down overall for 2011 over 15 percent even with an amazing close. Those are strong numbers coming in, but it will take a sustained increase over the next 5 months to make up for a dismal 18 months prior. We got into some holes that we need to slowly climb out of. The biggest challenge is holding back increasing prices to keep market competitiveness. I can't absorb all the prices increases that come in all forms from taxing, part and unit suppliers, and even service providers such as uniforms, garbage pickup, etc. Not to mention the horrid increases in health insurance and even in liability and umbrella insurance. Workman's comp held steady and that's good. I am optimistic because we seem to be enjoying a sustained growth, and not just a short spike. Actually toying with the idea of a bit of expansion if we can catch up over the next few months. We seem to be short staffed a lot of the time, but not the majority of the time and I am holding off hiring at this point. If this continues and we are saturated, I will consider hiring.

Been really depressing to hold bill payment back and wait til who screams the loudest. Just a few more good months, and I think we can get on better footing to be on time with all bills, and not carry interest charges and late fees. That's a cycle I hate, but for small businesses it can be part of the ebb and flow. Hanging tight and doing the best to shuffle and juggle during the hard times and not throw up your hands and give up has been my wife's solid support mantra to keep me going, and it looks like it's paying off. Even when I would trek home in utter sadness and misery, she believes I can weather the storm and turn things around. We had to make some serious staffing changes mid year and that hurt the most. It's also embarrassing when the checkbook doesn't have the money to pay all the bills when they come due, and I hate the calls.

Our business is rough in the sense that we were hurt by customer's going out of business, by the cash for clunkers program, and by low price rock bottom competitors that would never have our sense of integrity in the marketplace. Those competitors did well doing awful things as they took advantage of the depressed marketplace and fear. Ultimately, with patience, that pays off for us as customers come back. I think our loyalty factor continues to increase. Our gas station and convenience business has been in steady decline for years as vehicles are more fuel efficient and big boxes sprout up around us and we can't even try to be competitive there, but that remains in a situation that pays for itself.

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Response to Phentex (Original post)

Thu Mar 22, 2012, 06:39 AM

10. Spam deleted by OKNancy (MIR Team)

 

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Response to Phentex (Original post)

Thu Sep 13, 2012, 03:23 AM

11. Spam deleted by Violet_Crumble (MIR Team)

 

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Response to Phentex (Original post)

Wed Sep 26, 2012, 07:16 AM

12. Trustworthy Employees

Hi,
I personally feel that most of the business entrepreneurs face a lot of problem in getting trustworthy employees. It is important that companies should get good employees so that they work properly and give productive results to the company. Therefore, i feel what is important to have employees on whom the company can depend upon.


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Response to Phentex (Original post)

Thu Oct 18, 2012, 03:30 AM

13. Issues that business is facing today...

Hi,
As per my view, business organisation are facing many challenges not only in the day-to-day management of the business, but in ensuring its long-term viability. Most of us, however, spend more time managing the day-to-day than planning for the long-term. To ensure your business is successful, some of the concerns you need to address are listed below:

*loss of an owner
*loss of a key person
*attracting employees/executives
*retaining employees/executives
*using the business to support retirement income
*business investment income taxes
*covering capital gains tax liabilities

Solving these primary issues are the prime consideration for every business setup..

Thank You once again...

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