Filling in the Gaps
October 10, 2023
One of the biggest creators of stress in the lives of small business owners is a lack of available resources. Many times, the resources they are lacking are staff, customers, money, time, or physical supplies.
However, there are ways small business owners can fight back against and combat a lack of resources. They can fill the gaps to lessen stress and ensure businesses run successfully.
Although, small business owners may need to get creative to do so. They must think outside the box to brainstorm ways to fill in these gaps. PaySmart has some ideas to help business owners get the ball rolling.
Here are six solutions for small business owners to fill in the gaps when there is a lack of resources available at hand:
1. Restructure job roles.
One way small business owners can help combat a lack of staff is by restructuring current job roles. This means reassigning responsibilities, splitting up the duties of one job role into multiple, and giving current positions new tasks. Sometimes, outsourcing functions, such as payroll, maybe a solution to make things manageable. Small business owners will find this much more accessible with loyal employees they have built relationships with and can rely on. These employees will be the most receptive to taking on new responsibilities. If a small business owner is looking to hire someone to stock the shelves but is having difficulty finding someone, they could divide the task between their cashier and customer service representative. When either have free time, they could take turns stocking the shelves. While this is not a permanent fix, the business will continue running successfully until the role is filled.
2. Adjust operating hours.
Another way small business owners can fill in resource gaps and lessen their stress is by altering the hours during which their businesses are open. They could temporarily reduce operating hours if they have difficulty staffing their stores. If they struggle to make ends meet, they could temporarily extend their hours to service more customers and, in return, bring in more revenue. While their customers may initially be confused by the alteration in hours, if small business owners are open and honest about the factors contributing to these changes, they will be much more accepting and supportive of them. Small business owners cannot be afraid to move fluidly, adjusting to the ever-changing world to ensure their businesses thrive.
3. Temporarily discontinue products or services.
Small business owners can also work to fill in the gaps by temporarily discontinuing certain products and services. If they want to fill in gaps caused by a lack of money, they can start by evaluating which products and services are the most expensive and simultaneously bring in the most negligible revenue. On the other hand, if they are looking to fill in gaps caused by a lack of physical resources, they can identify which require supplies that are difficult to source. Once they have done so, they can work to discontinue offering these products or services temporarily. However, when they do so, similarly to the last solution, they must openly communicate this information with their customers. When they do, they can fill in the gaps while keeping their businesses open and running successfully.
4. Create new products or services.
In response to the previous solution, small business owners may look to fill in the gaps created by the absence of the products and services they discontinue by creating new ones. They should aim to do so with supplies they can easily access at a cheap price. These new products and services may be inspired by collections they currently have a surplus of. However, small business owners could successfully create new products or services without performing the previous solution. Regardless of what prompts them, customers will likely be excited about adding these new offerings and eager to try them, bringing more revenue to the small businesses.
5. Increase your social media presence.
If small business owners are also looking to fill in the gaps caused by a lack of money or customers, they could consider building out their social media profiles. By becoming more active on social media, they will help get the names and information about their small businesses. Doing so will attract more customers, enticing them to purchase their products and services. Furthermore, they may be able to temporarily cut back on paid advertising expenses, as posting on social media is free. However, they likely will not want to discontinue paying for advertisements permanently.
6. Seek out investors.
Lastly, small business owners can fill the gaps by seeking out investors. These individuals may invest their time or money to help small businesses succeed. However, they can be challenging to find. At times, investors will be volunteers who can come in and work a few hours. Other times, they will be donors who give their money to help a business thrive. Regardless, they care about the well-being of the small companies they invest in and want them to stay open and running successfully. However, it is not always easy to attract these individuals. Small business owners may have to be open and honest about the struggles they are experiencing. When they are, investors are more likely to be motivated to step up and take action to ensure their businesses can continue to thrive.
When small business owners set out to fill in the gaps they are experiencing, they must be vulnerable yet creative. They cannot let their pride get the best of them. Instead, they must be strategic yet honest with the information they share with the public. However, in doing so, they must still strive to provide their customers with the best products and services possible. When they do, they can take some pressure off themselves and ensure their businesses continue running successfully.
PaySmart is a payroll provider in Mechanicsburg, Pennsylvania, supporting small businesses in the Central PA region. We are dedicated to helping small businesses take care of their payroll needs. To learn more about how PaySmart may provide payroll solutions, don’t hesitate to contact us at 717-766-1777. Our New Client Concierge is waiting for you!