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5 Top Micro Business Challenges in 2023

I wanted to write this blog for several reasons, not least because I think it's important that we share what our common challenges are to find solutions together. But really it all started with me doing a little Google search to try and find data on the key issues facing micro businesses this year...and the results were woeful.

Firstly, there's the perennial issue that most blogs only talk about SMEs or small business (between 10 & 250 employees!). What I was reading was relevant to micros in some ways...but not really HOW those issues manifest in the day to day for micros.

Second up is that much of the data is around the traditionally talked about business elements (money, profit, growth) when in fact, for many a micro, it's often a little more human than that.

So here I am writing about what I experience when I work with members and clients from the micro business world. These are some of the top challenges I see being faced and some ideas about how to mitigate them and find solutions.

Sharing our challenges this way, shines a spotlight on the real experiences of micro business owners but also helps bring micros together to find strength and friendship as they navigate our ever evolving world.

  1. Vision & purpose clarity. Why you're doing what you do and where you're headed is the most vital element of a micro business. Yes, there may be a gap in the market and a customer need but likely there'll be others doing something similar. The connective tissue in all that you do (marketing, finding funding, delivering product or service, staying motivated, maintaining confidence) will be why you do it. Too often, micros slip into 'beige' and don't quite share the real heart, the nub, about what drives them each day. Be more Marmite, be super specific, authentic, open & clear. Inside Simply Club, we share multiple How To Guides, recorded video workshops & planners to help you reach into the heart of your why and share it with the world effectively.

  2. Personal wellbeing. This is talked about far too little. Out of the 5.2 million micros in Britain, about 60% don't employ and the remaining will likely be founder/owners in charge of all decisions. In this tough environment, this is an entirely human and personal struggle. It's time to give wellbeing its proper place in the core business elements we focus on alongside income, cashflow & marketing. In a recent How To Guide inside Simply Club, I shared the best ways to create a strategy for your number 1 asset - you. Focus on how you really are & what help or strategies you need to employ to keep going.

  3. Digital & Content Overwhelm. Blimey, it's noisy & busy out there! The pressure to deliver fresh content all the time, as well as staying on top of platform changes and digital upgrades is exhausting. If it's just you in your business in charge, it's a lot to be the master of all areas of your enterprise. Finding clever & efficient ways to create content that lands while making the most of digital tech quickly & easily is key to unlocking micro potential. Understanding how to choose best practice for your business will build confidence while creating space to continue to drive your business before it drives you. Inside the Simply Club Hub, we share multiple guides and workshops to help you untangle this for your business.

  4. Costs, costs, costs. This is a depressing feature of 2023 that can't really be avoided but there's a silver lining & finding efficiencies now will make any micro business stronger and more resilient for the future. This might look like simple streamlining & being more sustainable (always THE key element of a micro) or could even be a complete business model change to pave the way for a brighter future in the longer term. Sharing your experiences, finding some mentoring help & being brave and radical will all be great ways to find innovative and long term solutions. Inside Simply Club we use our private forum and group mentoring sessions to really niggle out what will help most.

  5. Staying visible & relevant. That should finish up with ' an overwhelmed world'. Life has become such 'a lot' for us all, including your customers. Getting them to stay focussed on your business or breaking through the ever noisy world of social media is a real challenge. How to ensure your website is findable or ensure that people act on your content, are all questions that I get asked almost daily. It's about the 3 'Cs' - connection, conversation & community. We can't impact the whole world but we can connect, stay engaged & create a tribe around our micro business that will make all the difference. Inside Simply Club, we've created planners, guides and videos that help identify the best ways to break through the noise to those who care & buy.

If you want to know more about Simply Club, connect with fellow micros or maybe even chat with me, please explore our website for more. Together, we can transform more lives through micro business.


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