Biggest threat to your small business

Re: Biggest threat to your small business

Our business is consulting and the biggest threat that I think we have is the extension of larger consulting firms into the small business arena with a cost effective technology solution.

Re: Biggest threat to your small business

I think the biggest threat for us - we are a small accounting firm is changes in tax law i.e. flat tax would kill us.

Re: Biggest threat to your small business

Threat from overseas manufacturers buiding products a lot less expensively than we do in the states.

Re: Biggest threat to your small business

The proliferation of info products all over the web at unreasonably low prices

Re: Biggest threat to your small business

The low wage scale overseas driving down the cost of digital products

Re: Biggest threat to your small business

I don't think my online businesses have to much of a threat. The only threat I could imagine is the competition on the net. But considering the fact that 95% of the people who market online fail, I think I will be fine because I'm in the 5%. 🙂

Re: Biggest threat to your small business

The popularity of business opportunities and entrepreneurialism spike during a recession as those who thought they had job security realize that they in fact did not. When one desires to become a home business owner and selects a business opportunity or system, they then thirst for information, training and instruction. It is a natural desire to take instruction or copy those that promote the success we crave to attain. It is the response to that desire that I feel compelled to address.
That being said, I cannot stress enough how important it is to follow credible and responsible sources of instruction. Keep mindful, realizing that there are those that have become successful by preying on others who do not effectively make those character judgments. With an increasing number of instructors and coaches that desire to teach something that they in fact do not practice so that you can experience success that they themselves have not attained, navigating this minefield has never been more critical. It is one of the main contributors to the home business failure rate being 98%.
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Re: Biggest threat to your small business

Hello friends.......

Here are some tips from Watchguard Technologies' which identify the main security issues SMEs should be aware of.

1.Insiders

In many SMEs, business records and customer information is often entrusted to a single person. Without adequate checks and balances, including network system logs and automated reports, data loss from within can stretch over long periods of time.

2.Lack of Contingency Plans

One of the biggest threats to SMEs relates to the business impact of post-hack, intrusion or virus. Many SMEs lack a data loss response policy or disaster recovery plan, leaving their business slow to recover and restart operations.

Thanks

Re: Biggest threat to your small business

Hello Friends.......

If you own a business, you almost assuredly do part of that business on a computer. It might be the billing, it might be advertising, or perhaps just market research. Criminals have discovered this and it has led to a growing trend of computer crime and industrial espionage from the large corporations, to the mom and pop small business.

As a business owner, you should do everything in your power to protect both yourself and your business from computer related crime.

Thanks

Re: Biggest threat to your small business

Here I'm alsoSharing With You one Of The Main Threat about business:
Competitors with superior positioning. This is perhaps the most serious threat of all. If someone in your market has preemptively positioned their company, you are forced into a defensive position. If you think that's okay, just imagine that you are Heinz Ketchup's biggest (yet relatively unknown) competitor and repeat the following statement five times: "It's also not Hunts!"

Great positioning is a proxy for me having to think about what the best choice is. I don't want to have to think about that. Time is the most precious commodity on the planet right now and if I can find a shortcut to keep me from having to think, I'm going to take it.

If your competitor has superior positioning, they will appear to your potential customers as the only logical choice in your category. And salesmanship will not be able to save you.

Re: Biggest threat to your small business

Hello
Identity theft – and the hackers responsible for it – is a serious problem these days. About 10 million people a year are victims of identity theft, according to the Federal Trade Commission. But some criminals can’t leave well enough alone; they try to assume the identity of an entire company.

That’s what happened to Susan Joyce, editor of Job-Hunt.org, a career development Web site in Marlborough, Mass.

“My site is pretty well-known,” she says. “And it’s an employment-related ‘keyword’ term (which is) typed into search engines by people presumably looking for it.”

Without warning, one of her bigger competitors began buying ads with the keyword ‘Job-Hunt.org.’ At first she was flattered, but then, as the competitor began siphoning traffic away from her site, she grew frustrated. When another competitor decided to do the same thing, her was angry. “They were clearly diverting traffic and stealing Job-Hunt’s identity,” she says.

“Identity theft is a very big threat to small businesses,” says Al Marcella, a professor at Webster University’s School of Business and Technology in St. Louis. There are two kinds of identity theft, he says. “The theft of the business’s identify, or attempting to fool or to confuse an unsuspecting consumer into believing that they are dealing with a legitimate business. Or the theft of a consumer’s identity, which is used to purchase goods or services,” he says.

Re: Biggest threat to your small business

Hello
If you own a business, you almost assuredly do part of that business on a computer. It might be the billing, it might be advertising, or perhaps just market research. Criminals have discovered this and it has led to a growing trend of computer crime and industrial espionage from the large corporations, to the mom and pop small business.

As a business owner, you should do everything in your power to protect both yourself and your business from computer related crime. What you might not know is that your own employees are almost always going to be your weakest link in the chain of your defense strategy. This is because humans are generally trusting in nature. When someone speaks from a point of authority, or expertise, they usually listen. Others tend to not pay attention to those who might not seem threatening at all.

Train Your Employees to be Vigilant and Inquisitive

You should always have train your staff to ask questions of those who come into your business in an official capacity. They should ask things like whether the person seeking access has an appointment, and who that appointment is with. When this information is provided, double check with the person that they made the appointment with, and the person who the appointment was for. Make sure that your employees know that if this person does not have an appointment they cannot gain any access to sensitive areas of the business.

Re: Biggest threat to your small business

I'm wondering if entrepreneurs realize that it's the same threat that causes 80% of business to fail in 5-years.

Would you be surprised if I told you it's that same threat that been taking down entrepreneurs for a thousand years?

Imagine what would happen if every entrepreneur took the time to thoroughly research their market before they did anything else.

You would see and hear about many less business failures.

From my research and experience, to many entrepreneurs with amazing technical experience jump into a business with little or no research as to whether there is a tested and proven market that can afford the products, services or ideas they offer.

And even worse, why is it that some entrepreneurs jump into a business and have no idea how to market or sell what they are offering?

Do solid research. Learn how to market and sell.

Then you’ll eliminate 80% of the biggest threats to entrepreneurs.

Now that said …. I do have a personal opinion on the elephant in the room.

The single biggest threat to entrepreneurs is the same as it has been for decades: All forms of government have been, are, and will be a bane to entrepreneurs.

Re: Biggest threat to your small business

Hello friends

I'm wondering if entrepreneurs realize that it's the same threat that causes 80% of business to fail in 5-years.
Would you be surprised if I told you it's that same threat that been taking down entrepreneurs for a thousand years?
Imagine what would happen if every entrepreneur took the time to thoroughly research their market before they did anything else.
You would see and hear about many less business failures.
From my research and experience, to many entrepreneurs with amazing technical experience jump into a business with little or no research as to whether there is a tested and proven market that can afford the products, services or ideas they offer.
And even worse, why is it that some entrepreneurs jump into a business and have no idea how to market or sell what they are offering

Thanks for sharing us..