What are pain points? Pain points are problems, issues, or challenges that entrepreneurs and businesses feel they are dealing with. These pain points can be materialistic (no money, no funds, no sales) or idealistic. (They don’t feel appreciated. They feel invisible. They hate doing their business. They feel not heard.)
If you recognize the pain points your ideal client is dealing with, you have the opportunity to provide a solution for it.
By creating solutions for these entrepreneurs and businesses, you provide them the option to focus on what they are best in, not on struggles they cannot fix on their own.
Every online search and search query comes out of the user intent
to fix a pain point.
It does not matter if it is finding a dentist for your tooth pain, the nearby daycare for your toddler, or more information on how to generate more sales for your business.
As painful as the pain points are,
they can hold the solution.
When Scott and I discuss our client’s pain points, his solutions are often creatively new or hidden marketing opportunities where mine are hidden gems located in online niches, still untapped or easy to dominate.
Listed below are the type of pain points you’ll most likely encounter for your startup or small business. Recognize them and address them quickly.
10 Critical Pain Points That Affect Entrepreneurs and Small Businesses
Pain Point #1: Not enough Money
Having no money can have a different meaning for every entrepreneur and business. For some businesses, it means they have absolutely no money or funding. Others use the term referring to the fact that they do not make enough money in their business.
When we work with entrepreneurs and businesses, we focus first where the money is in their industry, then identify the opportunity, and how they capitalize on the opportunity.
- Many entrepreneurs never do proper competitor research; thus, their pricing is not competitive for their products and services.
- Many entrepreneurs and companies have no idea what their ideal client is willing to spend.
- Another important aspect is the niche you are in. Some niches have a huge demand and profitability, others can have close to none.
Do your research first and go through the points above. Make sure you know the value of what you have to offer, what your competitors are charging for, and what your ideal client is willing to spend.
Pain Point #2: Not enough Time
Nobody has time. Or at least, that’s how it feels. In reality, we often don’t
- have a to-do list
- prioritize our tasks
- decide the night before which tasks need to be executed the next day
- implement short-term goals that help us to reach our middle- to long-term goals
I experience this myself every day. If I go away from my to-do list and start doing things that make me feel better, or what I am in the mood to do, I have no clue what I accomplished come evening time. And this is frustrating. Because we all want to feel we accomplished something every day.
Whenever somebody hosts an event about time management or writes a blog post about it, I watch or read it. The end result is the same. You need to structure your day in advance, have your to-do list prioritized, and take the execution seriously. When I do this, I can see what I have accomplished, and how much money I will make. Start following the tips above and make the best out of every hour you work, so you can work less and still be more productive.
Pain Point #3: Limited Resources
As I started my first business, I was blessed to have free and paid resources available. Many entrepreneurs who start a business think they can do it alone. They are “technicians,” focusing on what they do best and think they can build their business “on the side.” In reality, the side job is where the money comes in. The Internet provides you endless business resources; just search for them online. Don’t be shy or think you need to know it all. Many websites provide free guides or experts offer a free Q&A live video show to help you find answers to your questions.
Pain Point #4: Lack of Support or Unreliable Support
It takes a village to raise a child. And it takes an online or offline community to raise an entrepreneur or to grow a business. Like all roads lead to Rome, you don’t need to go it alone if you need technical or marketing support.
SCORE is a group of retired professionals that offer advice in most cities of the United States. The local chamber of commerce offer free open sessions. More and more experts are online giving advice on “Live” and prerecorded video shows. You can find these on Facebook Live, Blab, or YouTube. They are a great source to keep current on the latest changes that could affect your businesses growth and operational efficiency.
Pain Point #5: Not Enough Knowledge To Set Up And Run A Business Successfully
Starting your first business? It’s like riding your bike for the very first time; you want somebody to hold it for you while you climb on and is there for you when you start on your first ride. Not having the knowledge to set up and run your business is understandable; not having a mentor who has already been there can be a problem.
Look for experts and professionals in your industry who already run a successful business. Observe them, research their websites, and review their social media channels. Check out what they do well, and do it better!
Pain Point #6 Slow To Adapt To Industry Or Business Changes
Life is continually changing, especially the online world which is changing every day. As entrepreneurs, we must learn to change with it. There are endless industries, businesses, and jobs that existed 10 or 15 years ago but are now gone. Disruptive technology is happening all around us.
Your business needs to stay up to date with the industry developments. It has to adapt and grow with your client’s needs. If you stop learning, growing, and accepting the changes around you, your business will be dead, sooner than later.
Pain Point #7: No Clarity For Your Short And Long Term Goals
I believe this is the worst pain point because it is one of the most emotional ones. Making changes all the time can come from a fear of failure, not being good enough, not loving what you do, or suddenly being in the spotlight and succeeding. To be very successful, focus on your long-term goal and make changes that will help you accomplish that goal.
Do you have one year, three year, five year and ten year goals? Do your daily actions and implemented tasks support your long-term goals? Doing this prevents switching from one business opportunity to another, or hunting for the “easy button.”
Pain Point #8: Your Mindset And Belief
It seems like there are very few entrepreneurs like Gary Vee today. He does not care what people think about him. I love Gary and his attitude and that he can pull it off. No matter if you like Gary Vee or not, having the esteem, acceptance, and confidence in your abilities to succeed in your business is necessary to make money in the world today.
Having a supportive team of mentors, advisors, or coaches will help you overcome the daily struggles and help you to believe “I can”! You also need to believe in your products and services first before your clients will.
Pain Point #9: Know Your Why
Every few years, I experience the feeling of being burned out. I work long hours every day, and over the weekends too, in order to accomplish my business goals, to serve, enrich, and make money. In the beginning, I didn’t realize I needed to clearly define what my passion is in my business. I realized it was not making money. For sure, every entrepreneur and business owner plans on making money. But it’s your WHY. What do you want to create with the money? How do you want to serve others, what do you want to solve with it, and how do you give back? As soon as I understood, my passion was to guide entrepreneurs and businesses in accomplishing their business goals and to create an impact. Surprisingly, I never felt burnt out again. My passion feeds me. Clearly define what drives you in your business. Then make sure you write it down. I have mine visible to me, right next to my computer.
Pain Point #10: Self Care
No matter what your best attentions are when you get up in the morning, negative things can happen. Things can happen at home, with clients, employees, and business partners. You must try overcoming these with a positive attitude, looking for hidden opportunities. If you have the attitude that “things” happen in life and you can search for the positive, great! If not, your private and personal issues can create serious conflicts in your business life, from losing contracts, business partners, unhappy clients, to employees who are ready to jump ship.
In case you are in a situation where you could be much further in your business but private issues hold you or others in your company back, it’s good to stop reacting and start acting. It doesn’t help to brush the issues under the next stone or in a hidden corner but to recognize what they are. Are they one time issues, ongoing conflicts, or is there already war? Everything you let grow will negatively influence your business success and the money you could make.
If you experience these issues within your company, ask a mediator to join you, your business partner, or your employees to “clean up the house” and make it enjoyable for everybody. If it is you who is struggling, contact a counselor or therapist. They can help you overcome your internal hurdles so you can clearly focus in a positive way, looking for solutions and not obstacles, and then move on. Because life is change, and it is changing every day.
Hopefully, you now have a much clearer answer to “What are pain points?” It’s all about having the right positive mindset.
Hopefully, you can identify your pain points, where they come from, what causes them, and how you can overcome them. Should you not want to go on this entrepreneurial and business journey alone, you can look to us for guidance. Sozial Monster can help you!
Dagmar Gatell is an internationally respected SEO consultant, coach and strategist. She is the founder of Global Empire SEO Consulting. Dagmar successfully guides entrepreneurs by turning their expertise into successful global revenue generating businesses. She is a guest blogger at Sozial Monster.