Top 3 Brilliant Frequent Asked Questions About Starting Your Business

Questions

Questions

Questions

  1. What are the biggest challenges to starting a business?

The answers to the question  are:

  • Shortage of capital and cash flow
  • Having a good business plan
  • Coming up with a great product or service
  • Sticking to it
  • Working more than you expected
  • Getting through the frustrations of being constantly rejected by customers
  • Hiring good employees
  • Knowing when to fire bad employees
  • Having to wear so many hats
  • Managing your time
  • Maintaining some kind of work/life balance

2. What kind of business should I start?

A business that

  • You are passionate about
  • Has the potential to grow into something big in a reasonable time frame
  • You have some experience in
  • You would enjoy doing
  • One that can cause meaningful improvement in users’ lives

3. What are the biggest mistakes made by start-up entrepreneurs?

  • Not starting with enough capital
  • Thinking that success will come quickly
  • Not carefully budgeting
  • Not focusing on the quality of the product or service
  • Underestimating the importance of sales and marketing
  • Not adapting or iterating quickly enough
  • Not understanding the competitive landscape
  • Ignoring legal and contract matters
  • Hiring the wrong employees
  • Mispricing the product or service

https://www.linkedin.com/in/phemo-queen-marumoagae-ab57a78/

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