Have you ever had a friend look at a business and randomly throw out numbers that made it seem like that business owner must be making serious bank? We’ve experienced that many times, and know from conversations with operators and owners in those industries that their real profitability is often far, far less. The reason is often that there are unique challenges to profitability in almost every industry and so we wanted to create a space for entrepreneurs from across industries and markets to discuss the challenges to profitability in their industries.

Olivia Wirick

The two biggest challenges in the social media/digital marketing agency are: 1. market saturation and 2. staying up to date with the latest trends and algorithms There are a TON of amazing marketers/agencies out there who can effectively manage your social media but to differentiate yourself from your competition to become profitable in the industry is finding your niche. With my experience in the real estate industry, my team is able to provide real estate professionals with an experience tailored to their real estate business so they aren’t wasting time and marketing dollars. Not only can you better help your clients, but it is also 10000 times easier to grow an account/business through social media when you know exactly what kind of followers/clients you’re looking for and figure out how to appeal to them. Marketing directly to your niche will help you run a profitable business and stand out from the competition! Read more>>

Betsy and Tripp Sauls

The biggest challenege when it comes to profitability in this industry is trying to explain to customer why scratch baked, homemade, made fresh products are more expensive then the cakes they can get in the grocery store deli. We care about every single item that goes out of our bakery – and we put our time, our efforts, our skills into each item that goes out. And we bake from scratch – which isn’t always easy to do. So it’s tough when you’re competing with grocery store deli products that are much cheaper than what you can offer. We do our best to give our customers a quality product that tastes amazing so they can see how the price is justified and keep coming back! Read more>>

Christian Givens

The biggest challenge to profitability as a realtor is ourselves. In some ways we control how much we make by how much prospecting we do throughout the year. Low prospecting equals low number of leads. High prospecting equals higher lead count. Read more>>

Kemisha Cole

One or the biggest challenge to profitability in this industry is the competition. For this type of industry to survive you have to be able to identify good honest suppliers who will supply you quality products at competitive prices. With the onset of COVID-19 virus, the market has taken a turn for the worst. Everyone and anyone is wearing a Wig/Weave maybe because of the convivence, so there is a demand within the market, however, because of retail giants like Amazon and AliExpress, quality becomes secondary and price is now the option. Read more>>

Sharday Harrell

I think the biggest challenge in the Business Consulting industry is not scaling your prices to be marketplace competitive and being adamant about them. When you are in a service industry there are times when business owners and operators tend to lower their prices to be more “cost-effective” for the average customer. When really the goal is to make your product and services so unique that it should only appeal to your ideal client and the price shouldn’t matter, because you have a qualified solution. Read more>>

Kristina Bozanich

I am an entrepreneur and mother of two children under school ages. The greatest difficulty in my industry to obtain a profit is the complete imbalance of childcare costs in our country. If I cannot bring in enough income to my household, it is cheaper for me to be a completely stay-at-home mom than a self-employed business owner (as sad as this truth is). In order to tackle this challenge, I am constantly comparing income to the cost of childcare on a weekly or monthly basis. My rates for my services are based on my childcare costs per hour in order to ensure that I can maintain a profit. If I were to agree to cheap rates, it would literally cost me to work. Read more>>