Cristiane Namiuti - An Entrepreneur’s Guide to Taking the Plunge

By Cristiane Namiuti

Choosing to start a business is a thrilling venture that takes a lot of preparation. As a new business owner, you are choosing to build something meaningful, to dedicate yourself to an endeavor that will keep you up late at night and wake you up early each morning. The process is reinvigorating, but you must be sure that you can push through the following challenges to achieve success.

• Being your own boss means that you’re going to be working constantly. You’ll be working not only to find new clients but also to make sure they all remain pleased with your services. You’ll probably work up to seven-day weeks every so often, if not continuously, in the initial stages. And this may continue even after you begin to make money.
• You have to decide how much you’re willing to invest and how you’re going to manage the revenue you earn. Many new businesses close early because they simply couldn’t grow the business fast enough to pay the bills. That’s why many entrepreneurs continue to work a day job while simultaneously building their new business. Have a plan in place, and you may want to consider seeking out a financial advisor beforehand.
• Be prepared to go with the flow. Sometimes business will move quickly, and sometimes everything will come to a screeching halt. You’ll have to learn to adapt and adjust to anything and everything that could possibly go wrong, and quickly.

About the author: Cristiane Namiuti is a passionate advocate for budding entrepreneurs. She completed her MBA at Babson College and has recently joined a technology startup.

Sources: http://www.investopedia.com/articles/pf/12/small-business-challenges.asp
https://www.quicksprout.com/2009/11/24/the-7-harsh-realities-of-starting-a-business/