Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with Glenn Murray, Founder and CEO at 220 Communications:
What does your company do?
220 Communications is a hub of creative marketing strategy. Our primary focus areas include: Marketing Strategy Publishing Social Media Events & Experiencing Fundraising
What is your role? What do you enjoy most about your role?
I like to say I’m the CEO, Secretary and Janitor. I play a part in the strategy and promotion across the business. Including our popular Wine Crawl experience, we created and have successfully run for 5 years. I play the role of idea generator, and lead many of the marketing campaigns both online and off. My background is direct marketing, so I’ve applied that knowledge to our social media execution,
What are the biggest challenges in your business right now?
Our biggest challenge now is how do we scale what’s working, stop what’s not working and start what we need to be doing. We’ve gained traction with our Wine Crawl events and we’ve had to re- evaluate and reorganize our publishing unit. My experience working for GE made me an advocate at creating and growing flexible business units to take advantage of any cyclical trends. But I have a fraction of the operating capital so hard decisions need to be made to truly impact growth.
If you could go back in time, what business advice would you give to a younger version of yourself?
I wouldn’t change the decisions to go into the areas of business I did but I would get out of bad deals, business relationships or remove employees that don’t buy into the vision sooner. The biggest mistake you can make when growing a business is allowing a cog in the wheel to be faulty but figuring out a way to cover up that deficiency eventually the part just stops working and it can bring your business to a screeching halt.