We don’t have to tell you about the challenges of operating a small business in today’s economic climate. You own and run a small business. Business gurus write and publish hundreds of articles and books enumerating the challenges and offering advice on how to deal with them. However, consider these three facts:
- The Gross Domestic Product fell by 2.9 percent in the first quarter of 2014.
- A business closes or files for bankruptcy every 53 seconds.
- The average consumer is bombarded with more than 4,000 commercial messages per day.
The message to take away: the economy is shrinking, business is tough, and getting the attention of consumers to enroll in scuba classes, buy gear and go on diving excursions is difficult. So what to do about?
In this series, we explore five business challenges faced by dive centers and what you can do to meet these challenges head-on. These include:
- The Growing Digital Divide in Dive Center Marketing
- The Real Cost of Staffing Your Dive Center
- Combating Competition and Business Failure
- Focusing on Cash Flow and a Cash Reserve
- Focusing on Analytics
In each article of the series, we identify and define the challenges and recommended action steps that are simple, concrete and can be implemented immediately. Don’t try to tackle all of them at once. Focus on one a month for the next five months.
The five challenges we identify are not the only problems facing your dive center. There are numerous challenges to operating a small business in today’s economic climate. Use the series as a launching point to target and think about other areas of your business we did not touch on.
Regardless, of what step you take next, remember, if you spend a minimum of one hour per day working “on” your business, you will outpace the competition and survive long-term.