Running a business comes with many difficulties and while there may be successes along the way,
business owners can also be faced with challenges or ‘pain points’ from time to time.

How to Spot ‘Pain Points’

These ‘pain points’ are persistent problems that stop your company from developing in a positive
way.

With 60% of business failing within the first three years 1 , it’s crucial to address issues to overcome
them and improve your business moving forwards.

At ActionCOACH we provide business owners, who are willing to learn and grow, with effective
coaching methods and strategies to help them enhance their company’s performance and
development.

More than often, businesses tend to focus on their customer’s pain points, overlooking their own
internal concerns, which can start to become visible externally and potentially limit growth.

The main areas we often come across is time, team and money.

Time-poor

It comes as no surprise that most business owners struggle to make time, especially for themselves.

As a business owner, take a step back and consider whether you’re investing too much time in tasks
that aren’t a priority and try to find more efficient methods of getting these done.

Where possible, block out time in your day – either at the start or the end of the week – to allocate
yourself time to focus on business priorities and supporting your employees. Set clear objectives,
outcomes and realistic deadlines that you can meet.

Retaining and recruiting staff

Employee retention and recruiting new members of staff is one of the biggest challenges business
owners are currently facing.

90% of workers admit they would be more inclined to stay at a company that provides them with
active feedback and support 2 . As an employer, it’s vital that you encourage and listen to your
employees’ needs. Whether it’s providing additional training, mentorship, team building days or
rewarding your team with pay rises, promotions and bonus schemes.

By focusing on your employees and playing an active role in creating a positive workplace culture,
not only will you retain them, but you’ll also attract new talent to your business.

Financial concerns or struggles

Financial pain points can include spending too much money on something that isn’t providing a
return on investment, or on services that do not fit within a company’s budget.

It is important to evaluate overhead costs and be aware of any unexpected charges you may incur
when running your business – something that tends to be forgotten about often.

1 Fundsquire | Business Startup Statistics UK (2022 update)
2 012220_Achievers_ERR_124-1.pdf

Keeping on top of company finances and outgoings is key to helping you set aside budgets, and
whether you need to increase your client base or service charges in line with increasing costs of
living.

Be sure to reach out to our expert coaches to find out more.