MicroMentor

Jim Rucker

Nashville, TN, United States

Jasmyne, there are many challenges in becoming a business owner. Probably the first one you will run into is the financial risk. It typically takes a certain amount of capital and there are no guarentees of success. In addition, many times you will have to quit working your curent job that may have a certain amount of security and benefits paid for by your employer.  You can also count on putting in long hours especially during start-up as you typically don't have too many employees if any at all.  That means all aspets of running the business is up to you. This includes procuring the capital, putting together a business plan, securing a location, setting up your computer(s) with the necessary software including bookkeeping, inventory management, payroll, etc.  You will also need to set-up your office/facility, phone system, insurance, business license, corportate paperwork, marketing strategy/buget and much more. As you can see, there are many challenges in becoming a business owner.

Posted on 09/07/10

Bob Roitblat

Antioch, IL, United States

In my opinion, one's biggest challenge as a business owner is balancing the needs of the company with the needs of the staff. One's biggest challenge to becoming a business owner is possessing the right amount of confidence.

Posted on 10/18/10

jill salzman

Oak Park, IL, United States

Accounting.  It's, hands down, the most popular struggle among the mom entrepreneur members of The Founding Moms.  Impossible to keep up with, no easy way to (seem to) do it, always a struggle.

Posted on 03/16/11