Top five challenges your small business must fix

In 2013, I am proud to have worked with MTN Business to empower small and medium sized business in capacity building and skills development.  This one of the top projects I am proud of.

MTN sponsored the training of over 200 entrepreneurs in Northern and Western Uganda regions. The training covered critical topics for business success – – internal controls, working capital management, strategic planning, bank reconciliations, using MTN cloud business solutions, taxation and compliance and sustainability.

During one of the the presentations, I asked participants “what are your top 5 challenges that keep you up at night?” Below is a count-down of the challenges that came up.

5. Low turnover due to lack of customers

Now you know. Lack of capital or finance is not a big challenge for many SMEs! All you need is to start small and look for customers. Investing in effective marketing and business development is the top challenge for many including you. If you can fix this challenge, you are a success CEO or entrepreneur

Many SMEs want to expand quickly without proper planning on how to attract customers. In 2013, so many businesses collapsed due to expensive loans they could not service. Most of the time, you don’t need that loan. All you need is internal re-organization. You need to focus on growing the top line – revenue and minimizing revenue leakages due to unnecessary expenditures.

If you missed the training, you have the opportunity to get the practical low cost marketing strategies.

2014 Resolve # 1:

Undertake Guerrilla Marketing Strategies that have proven effective to work in Uganda. These strategies are contained in a four-page document with practical low-cost marketing strategies you can use to grow your business in Uganda. You can get the strategies in PDF via email at a cost of Ugx. 50,000 each.    As a Bonus, you will have a 30 minutes discussion (via phone, Skype, or in person – at your cost) with Mustapha Mugisa on how you can implement the strategies for your business success. You save Ugx. 500,000 exceptional people pay to attend Mustapha’s executive mentorship classes.

To order, send email to mugisa[at]mustaphamugisa[dot]com or send mobile money to 0782610333. Or call to get bank account details.

Wish you a successful 2014. May you attain good health, social respect and financial independence.

Source: http://mustaphamugisa.com/top-five-challenges-your-small-business-must-fix-in-2014/

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