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Unique Issues Facing Small/Startup Firms

Small firms have some unique issues including:

  • Need low cost/simple solutions to most problems
  • Lacking specialized management talent
  • Insufficient working capital
  • Informal management structure and roles and responsibilities
  • Missing or incomplete policies and procedures
  • Inefficient workflows
  • Difficulties in delegating responsibility and authority
  • Propensity to micro manage subordinates
  • Lack of adequate systems for management and control
  • Difficulty in managing performance of ineffective but long term employees

Startup firms have some unique issues including:

  • Need business plans
  • Need to raise capital to provide funding
  • Lack of specialized management talent/maturity
  • Unfamiliar problems never faced before
  • Rapid growth pains
  • Lack of information systems for management and control

Call us at (973) 518-1970 to arrange for a free assessment of your situation and an outline of the steps required to meet the challenges you face.