Having your own business can be extremely fulfilling, but with the feelings of joy and accomplishment comes an array of low points and frustrations.

To help you get through these difficult times, we have compiled a list of the most common business frustrations with solutions for each.

What to Delegate

Many business owners find it hard to resist the urge to do everything by themselves. After all, as the old saying goes, “if you want something done right, do it yourself”.

However, if you are on top of a booming business, you will quickly discover that you can’t do everything by yourself. And that means that it’s time to delegate. By delegating your tasks you will not only ensure that all of them are finished on time, but you will also have more time to deal with the things that nobody can do but you. So pick out a team of people you trust and delegate those tedious tasks to them.

Dealing with Difficult Customers

You know how they say, "a customer is always right". Unfortunately, in the real world, there are plenty of customers who are difficult to deal with. Many of them set expectations too high, and expect a little bit too much for their money. Not to mention the ones who are simply plain rude and like to bicker with the customer service just because they know that they can get away with it.

Being able to reply to all customer requests is important to ensure client satisfaction and boost customer retention rates. To ensure that you are providing the best customer service possible, arrange for some training for your customer service team. The studies have shown that, if done right, customer service can drive a company’s revenue 4% to 8% higher. So knowing how to deal with a difficult customer will definitely pay off in the long run.

Finding the Right Person to Hire

If you are having trouble finding the right employees for your company, you are certainly not the only one. Researches have shown that a whopping 72.8% of employers are having trouble finding the right candidates for their companies. The situation on the market is so bad, that employers sometimes have to look through several hundreds of CVs just to find one person that fits their needs.

And when they do find the appropriate candidate, they still have to go through all other steps of the hiring process – tests, in-person meetings, phone calls… If the hiring process becomes too much for you to handle, you can always hire a professional to help you. Keep in mind, however, that hiring a professional recruiter will result in additional costs.

Not Knowing How to Do Your Taxes

Keeping your taxes in check is time-consuming and tiresome work that becomes even more difficult when you are selling products and services internationally. Yet it has to be done and it has to be done right. If you fail to do your taxes, you will get in trouble with the tax department. If you aren’t sure about which taxes you should pay and when, hire an expert to do the taxes for you, or at least to explain the whole process to you to avoid getting in trouble.

Slow and Late Payments

One of the biggest business frustrations is definitely slow and late payments. There is nothing more frustrating than watching your bills pile up while you are waiting for a customer to pay for an invoice sent weeks ago. To avoid this from happening to you, make sure to occasionally remind people that they are late on their payments. I know that reminding people that they owe you money can be awkward, as nobody wants to seem rude, but unless you show some initiative, you will most definitely continue to wait for your hard-earned money.

Having to Drop Good Ideas

Sometimes, even if you have a great idea that looks very promising, you have to let it go for a variety of reasons. Reason number one is that you have other stuff to do and don’t have the time to develop your idea into a concrete product, service or business plan. The other reason might be the lack of money to continue. It can be extremely frustrating, but some great ideas just have to be abandoned completely. Others can take a backseat until you get some free time or additional funds to develop them further.

Running your own company can be a handful. With so many things to take care of and so many things to think about, it’s no wonder that 50% of all businesses fail within the first five years. However, when things get tough, it’s important to remember that there are solutions for every business frustration you may encounter.