Potential Problems with Solutions
Every company has limitations. A smart owner or manager knows what the problems are and addresses them. Possible barriers include cash flow or capital shortages, personnel deficiencies, weak technology, stale product lines, pricing woes, declining sales, strong new competitors, quality control problems, and much more.
Some problems are long term. Being a supplier to a declining market/industry is a long-term problem. So is being located in a stagnant or declining local economy.
Product and service limitations might involve quality control, rejected raw inventories, stock-outs, delivery problems, lack of skilled service personnel, and old equipment that puts you at a time and cost disadvantage.
Know your limitations. The correct them - or adjust your marketing plans to accommodate them. Dramatic changes in your business will come from correcting errors and problems. More lasting and profitable, of less splashy, changes result from implementing a carefully thought-out marketing strategy.
