Addressing the Top Challenges That Business Leaders Currently Face

Owning or running a business is unlike any other career path. Although it is often time-consuming and demanding, most business owners and executives find that the satisfaction they get from watching their business grow and succeed makes all the effort worthwhile. The obstacles that business owners face are constantly changing and a large percentage of businesses fail after the first few years. Consequently, business leaders must continually find creative ways to address these challenges head-on.

Government Rules and Regulations

As any business leader knows, red tape is an unavoidable part of owning or running a small business. Regulatory concerns take up an increasingly large portion of many business owners’ days. The more time you spend on compliance issues, the less time you have to address sales, marketing, employee needs, and ideas for growing your business. Furthermore, non-compliance can lead to steep fees and a mountain of added paperwork.

The reality is that most small business owners cannot justify full-time, in-house legal counsel to handle regulatory compliance and other legal concerns. In situations like these, outsourced general counsel offers a practical alternative. When you work with an outsourced general counsel, you create a reliable relationship with a single attorney or law firm who then becomes intimately familiar with your leadership style as well as the ins and outs of your business. This allows your outsourced general counsel to address compliance matters long before they become real problems.

Employee Matters and Liability Concerns

As your business develops, so will your need for extra workers. Unfortunately, hiring employees comes with a host of legal concerns. One of the best ways to protect yourself legally and ensure that your employees understand what is expected of them is to create a comprehensive employee handbook. A well-crafted employee handbook contains your company’s policies and procedures regarding discrimination, harassment, performance reviews, employee discipline, benefits, wages, work schedules, paid time off, and much more. Do not make the mistake of assuming that only large companies with dozens of employees require this type of guide. Every employer can benefit from the legal protections provided by an employee handbook.

Marketing in the Digital Age

Consumers have a staggering number of choices when it comes to spending their hard-earned money. Making sure your company stands out among the competition is crucial. If you have not started utilizing online marketing yet, the time is now. According to one recent study, a staggering 97 percent of consumers use the internet to research local products and services. Having an online presence is key to grabbing the attention of potential customers. In addition to an optimized website, it is also essential to be aware of your company’s social media presence. Consumers are increasingly using Facebook and Instagram to learn about products and services, book appointments, and interact with business leaders. Also, pay careful attention to your business’s reviews on websites like Google and Yelp. One or two negative reviews can dissuade customers from even considering your business.

Call Us for Help Today

Business owners and corporate leaders must keep up with a rapidly changing marketplace. Between regulatory compliance issues, employee concerns, taxes, and other issues, it may sometimes seem like the job is never done. For help, contact a Naperville business lawyer at The Gierach Law Firm. Call 630-756-1160 today. Learn more about our Outsourced General Counsel services here.

Source:

PR Newswire