Special Offer! Finance Your Growth at 0% For 60 Days Learn More

3 Pain Points Small Businesses Face (And How to Fix Them)

Updated On January 2, 2021

By Matthew Barton

small coffee shop business

Building and running a small real estate business is an exciting journey. It allows you to try out exciting projects and innovate within your chosen industry. On top of that, you get to help people solve their real estate problems with your product or service offering. 

With that said, entrepreneurship is not all sunshine and rainbows. Throughout your journey, you will experience both highs and lows. You will also encounter pain points that can shake up the company you are building. 

No small real estate business is immune to these challenges. Whether you like it or not, they will come and test you—maybe even make you struggle. The bright side is that there’s a way for you to emerge triumphant despite these pain points: by first recognizing them. 

On that note, here are three of the most common small business pain points that you must be aware of:

1. Maintaining a Consistent Cash Flow 

This is perhaps one of the hardest things a small business owner must do, especially during the early days of the venture. And cash flow in a real estate business is always related to deal flow!

It may be difficult, but you must see to it that your revenue covers your operating expenses as well as your product and logistics costs. Ultimately, you have to stay on top of your margins and reserves and ensure your pipeline of deals is always covering your upcoming expenses. 

How to address this pain point: One of the most straightforward ways to overcome this challenge is to look after your accounting closely. Keep your books updated to get an accurate idea of your financial standing. Know exactly what your minimum deal profit needs to be each month and reverse engineer your deal flow to meet this.

Aside from this, it’s also a good idea to offer buyers in the real estate niche you’re in various payment options—this will make it easier for your buyers  to complete their purchase, create cashflow for you and consequently increase your bottom line. 

2. Finding Good Employees 

Finding and recruiting talented employees to grow your small real estate business isn’t simple. First, you will need to offer salary packages and benefits that would entice them without sacrificing your venture’s finances. After you do hire them, you must work on retaining them next. 

How to address this pain point: Start with building out effective processes and systems. The people you hire to fulfil the roles in your team will find it easier if they know exactly what to do, can be trained on it and can work towards the results you are after easily.

On top of that, you must actively find ways to engage your employees. If your people feel invested in the business, they will naturally work harder for it; they may even stay longer to keep contributing to the company.  Consider involving them in the financial rewards via a bonus structure when deals are completed, so they feel they contributed to the success of that real estate deal.

3. Marketing the Business 

Many small real estate business owners tend to omit marketing efforts because they do not have enough funds for it. Because of this, they often struggle to spread the word about their company and widen its reach. 

How to address this pain point: Get started with content marketing and ensuring you target your key sellers and buyers. Having a great sales page and launching social media campaigns don’t have to be expensive; in fact, you can launch some content marketing efforts without spending a dime. 

Enlisting business marketing services from a company who knows and understands your niche is also a great idea. Compared to hiring a complete marketing team, this option will give you your much-needed marketing boost without the high costs of recruitment. 

Conclusion 

Building and running a small real estate business is not an easy task. You will meet challenges along the way, especially during the early days of your venture. Nevertheless, you can tackle these pain points by first recognizing what they are and acknowledging that they’re there. After this realization, you will be able to work towards devising effective solutions. Ultimately, you’ll be able to turbocharge your business and take it to newer heights!  

Supercharged Offers is a full-service direct marketing agency offering real estate businesses like yours a totally done-for-you growth package to help you scale. If you’re ready to turn your business pains into gains, get in touch with us today to get started! 

Matthew Barton

Yes! I Want A $997 Niche Marketing Strategy
For My Business, For Free!

Stuck Starting Your Plan? Get Started Today With Our MarketResearch,
Insider Business Knowledge and Tools to Help You Grow!

We’ll do most of the work behind the scenes for you, but we also need your commitment anddedication, so together we get you a great result. If you’re not ready for that, please don’t waste your, or our, time. But if you are ready to boost your marketing results into the next phase of business growth and profits, then let’s get started.

Launch Your Business Growth Today!

Simply fill in your details to instantly download your free ‘No More Excuses Business Growth Plan’ and start mapping out your business goals, market strategy and ideas to differentiate inyour niche to create more buyers and sellers.

If you have not done a business or marketing plan before, don’t worry. This plan will assist you with all the right questions (and useful examples!) to get started. Then on your consulting call, our team will assist you with any areas you’re not sure of and collaborate with you for a great end result!Procrastinating? Claim Your Niche Marketing Plan and No Obligation 60-Minute Consulting Call Now Valued at $997 – Free!

*This is so that we can get to know your business. If you do not have a website, remember that we build a landing page for you for your campaigns!