The Top Challenges 28-55 Year-Old Self-Employed Married Fathers Face
With $100 in credit at the real-time survey tool 1Q (referral link), I had the idea this past weekend to send an open-ended question to business owners as a way of exploring topics I could write about here on this blog. I set up my AskVert (what 1Q calls each survey panel) and sent out the question listed below.
- What's one of the biggest challenges (Business, Personal, Relational, anything...) you're facing right now?
The mini-survey went out to self-employed married men ages 28-55 with at least two children and earning at least $75k per year (a similar profile to myself). The question went out at 1:06 pm and within 41 minutes, I had one-hundred answers.
This open-ended question received a combination of short and expanded answers. Some answered with more than one challenge while two of the results were null (it's why the numbers don't add up to 100). Here's a summary of the results after I sorted through and organized them for a more effective understanding.
Top Business Challenges (37)
- 13 | Business Challenges (General)
- 11 | Business Growth: Sales, marketing, website traffic, generating leads, & landing customers.
- 3 | Business Assets: Finding ideal homes for selling, growing vacation rental home portfolio, & Purchasing Equipment.
- 3 | Growing Teams: Competent staff, business partner personal development, & people challenges.
- 3 | Customer Retention, AR, & Communication: Followup, focus, effective AR, & competition.
- 2 | Business Communication, & Operations
- 2 | Business Capital: Business slowdown, financial problems, & available business loans.
One of the most persistent challenges facing business owners is finding, attracting, and securing new business. As a consultant focused on helping customers improve revenue, I don't have a lack of opportunity. It’s hardest to get the machine going, but once a business gets momentum, the sales, and marketing roll fairly smoothly as long as it's maintained well. Unfortunately, many companies never it make it that far.
It also sounds like a few of the respondents are in the real estate industry. Buying and selling things is how many people make a living and locating these valuables create an external reliance to succeed.
Finding the right people, growing those team members and establishing a self-healing harmony in the culture are hugely important factors for long-term sustainable success. This is another useful insights since I work with companies to help grow their team.
Keeping customers, staying in healthy conversation, getting paid on time, and preventing competitors from picking them off is also essential to long-term growth. And the final two challenges include internal communication, operation, and financial obstacles.
As a former business owner and a current freelancer who works with them, I can relate to all of these challenges. Part of what drives me to help is the stress and challenges I faced on the entrepreneur's journey. My aim is to accelerate overcoming these difficult obstacles through writing on this blog, and working alongside the self-employed.
Country, Community, Personal, Family, or Kid Related Roadblocks (37)
- 7 | Personal Challenges (General)
- 5 | Losing Weight
- 4 | Personal Development: Confidence, focus, & motivation, & contentment (liking my house).
- 3 | Relational Challenges
- 3 | Marital: Keeping the marriage fire going in the midst of the chaos of life, communication, & divorce.
- 3 | Parenting: Kids, finding the right babysitter, & legal challenges (Visitation Rights).
- 3 | Time Management
- 2 | Loss: Death of a parent or other family member.
- 2 | Trump, & Bad Politicians
- 1 | House Management: How to sell, and plan to build houses.
- 1 | Schooling: Master's degree with a good grade.
- 1 | Puerto Rico Disaster
- 1 | Volunteering
- 1 | Low-income housing
Financial Challenges (22)
- 10 | Finances & Money (General)
- 4 | Borrowing: Credit card debt, finding a million dollars, taxes, & paying bills.
- 4 | College Savings: Children’s college.
- 2 | Financial Advancement: Freedom.
- 2 | Investment: Stock market or cash reserves, & planning for retirement.
Job-Related Obstacles (8)
- 6 | Finding Work: Available opportunities, overqualified (too old), & a matching job.
- 2 | Evolving In The Workplace: Adapting to a new position, moving up the ladder, & integrating into the culture.
As a lifelong business owner and freelancer, I've had only a few times where searching for a job was something I had to do. But, as many people as I've come across in this predicament, I certainly want to do what I can to help them succeed.
For those in a job, how can they make progress, make an impact, and grow in their career? While it's not my primary focus on this blog, these team members are people who want and need assistance.
Survey Conclusions & Next Steps
Three Other Interesting Tidbits
- 33 of the 100 self-employed respondents highest level of education was high school.
- 23 of the 100 respondents had four or more children. Over half had three or more kids.
- Only 13 of the respondents were registered, Democrats. The remainder were Republicans, Independents, and other.