Meeting the Challenges of Starting Your Own Venture

Meeting the Challenges of Starting Your Own Venture

It's a competitive world, but with the right start, young millennials can make their mark in business.
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Starting a new business can be an exciting but scary experience. If you've never started a new business before, then you will be faced with difficult challenges every step of the way.

These are challenges which might even deter you from wanting to start a business. However, if starting a new business were simple and easy, then everyone would be a self-employed entrepreneur.

It takes a special person with the drive and determination to work through these challenges in order to be successful in their business.

To prepare yourself for these challenges, you must understand what they are first.

Below are the top 7 challenges of starting a new business that you're bound to experience.

Once you know what they are, you'll be ready to move forward and not be surprised by what lies ahead. If you make it through these 7 challenges, the rewards of starting a successful small business will be waiting for you in the end.

Sacrificing Your Job Security

The first challenge that every aspiring entrepreneur goes through is giving up their security - whether it be their paycheck or the routine of employment.

If you depend on this money to pay bills for your own survival, then consider starting a business while working part-time. If you need to work full-time, then spend all your remaining hours working toward starting your business.

Developing Your Business Idea

Entrepreneurs will typically want to start a business because they get some unique idea in their head that they want to market.

Unfortunately, many of them fail at developing this idea into an attractive product or service for consumers.

As an aspiring entrepreneur, you need to figure out how your idea can solve other people's problems. Once you figure this out, turn this concept into your own product or service that people can use to solve those problems.

Within the scope of your business idea you are going to need to develop a digital strategy. Your strategy needs to conform to the expectations of users and the availability of online tools and technology.

One of those challenges will be determining the marketing channels through which you will publish and disseminate your content. According to Bannersnack's sister site, Flipsnack, over 90% of all content shared in 2017 was video. This means that the chances are high that you are going to need a strategy that includes rich media and video in order to compete.

Developing your idea will include online infrastructure, whether to use managed, cloud or shared hosting for your site as well as which platforms are going to be best suited to your business proposition.

Raising Capital

Most entrepreneurs will need to raise capital from banks, venture capitalists, or other investors. This will be your starting capital that pays for getting your business up and running.

However, it can be a big challenge to raise capital if you've never run a business before. The amount you'll need to raise will depend on what product or service your selling.

Regardless of the amount, you should immediately start networking and making connections with investors who invest in new business ideas like yours.

Make sure you have a well-written business plan available to show them.

It will only improve your chances of raising the capital.

Legislation and Taxes

Just because you're becoming a small business owner, it doesn't mean you have to do every job and task yourself.

You might be great at running the day-to-day operations of the business, but you may lack the skills of handling the accounting and legal sides of the business.

Therefore, don't be afraid to hire an account and legal expert to help your business through these obstacles.

You don't want to end up in a situation where you're not complying with local laws or not paying the proper amount of taxes owed. This could end up shutting your business down unexpectedly.

Know what your legal and fiscal obligations are and to what government entities you are expected to give an account.

Hiring Employees

The day-to-day operations may be too big for just one person to handle. That is why you will need to hire employees to join your organization's team.

They can assist in raising your company's productivity and helping it grow to new heights. Just be sure to take your time during the hiring process so that you know you're hiring the right people who are qualified and passionate about their jobs.

This passion will reflect on their job performance.

Dealing with Competition

Competition is what every business must worry about. The trick is to figure out how to make your business stand out amongst all the others in your industry.

This could mean creating an original innovative product that no one has ever seen before.

Perhaps you sell a service that is the most affordable amongst all your competition. Just think creatively like this and you'll find the right path forward.

Waiting for Profits

As you get the business up and running, the hardest thing will be waiting for the profits to come in. Profits would mean that you've already made enough money back to cover all the startup expenses and now you're making money in excess of that amount.

For a lot of business owners, it could take years before they see profits like these. If you don't have the patience to wait that long, then you might want to give up early and close your business because the profits aren't coming fast enough.

Just remember to be patient. As long as your monthly and yearly revenue continues to grow, then you'll eventually get to the point where everything you make will be all profit. Won't that be nice?

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Lil Dicky's 'Earth' Is The Most Influential Song Of 2019, Change My Mind

And the music video may be even better.

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Lil Dicky is a known musician know for his songs 'Pillow Talking' and 'Freaky Friday' featuring Chris Brown. The songs are fun silly and are very catchy. Last week, Lil Dicky released a new song titled 'Earth' featuring about 30 plus artists including Ariana Grande, Justin Bieber, Brendon Urie, Zac Brown Band, and many others. This song is just as enjoyable as his other songs; however, this one carries an extremely important message.

In this song, Dicky brings awareness to the condition of the Earth along with the idea of world unity. Through the inclusion of several animal species, he shows how the earth doesn't just belong to us as human, but to the animals as well. Oftentimes, the human race can be extremely selfish and forget that we do share the planet with other species who are just as important as us.

In one of his last verses, Dicky mentions the way we are harming the earth through pollution and fighting wars. This part of the song becomes more serious to emphasize the importance of this topic. In the music video, the colorful visuals turn dark and gray which can bring to attending the dying planet.

In his effort to save the earth, Dicky calls for unity among all countries and continents. Saying how all past issues are in the past and we all need to come together since we live on the same planet. With all the political issues happening on a global scale, the earth and its health are often pushed to the end of the priority list. By adding this part to the song, Dicky brings awareness of that topic back to the top.

'Earth' by Lil Dicky is the most important song of 2019. Through his creative artistry and inclusion of over 30 artists, people will notice the message of this song and hopefully begin to make changes that will impact the earth in positive ways. If you haven't watched the music video or listened to the song please do.

Earth is the only planet we have; thus, we need to show how much we love it by actually taking action to care for it.

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Meet the Top Female Golfers of 2017. Can you Guess Who they Are?

Women's Golf is on the Rise - and we pay our Respects
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When we think golf, often names like Tiger Woods and Rory Mcllroy come up, but we are about to change that placement in your mind. In this article, you will read about five of the best female golfers in 2017. 

Sandra Gal

She is easily one of the most popular female golfers of 2017. The German beauty was born back in 1985. She began playing golf early in her childhood and featured in the German National Team at the age of 17.

Long before anyone knew, she was winning titles and gaining limelight.

In 2007, she qualified for the LPGA Tour and within a year, turned pro. Sandra achieved T15 in 2011, T12 in 2012, and T19 and T25 in 2013, and is still playing on the LPGA Tour. She uses the Driver GBB Epic, 3 and 5 wood GBB Epic Sub-Zero, and a Callaway Chrome Soft.

Blair O'Neal

The US-born Blair O'Neal is another one of the favorite golfers from 2017. She was born in 1981 and started practicing the sport from the age of 13.

Soon she took her love for golf to the next level by becoming a professional golfer. She has two professional wins to her name.

Blair has successfully finished T68, T22, T64, T52, and T37, and is known to use the infamous Cobra drivers. She is a model on the side and is loved by millions for both of her elite professions.

Cheyenne Woods

Another one of the favorite female golfers from this year is Cheyenne Woods. She is a US National who is arguably the most famous female golfer around the globe. Cheyenne was born in 1990.

She found her love for golf in college where she won back-to-back championships in 2006 and 2007.

After becoming professional in 2012, she has won two important tournaments including the Volvik RACV Ladies Masters where she won by a margin of two strokes. She uses a Nike VRS Covert Driver, a Nike RZN Black Ball, and Nike VR Pro wedges, etc.

Cristie Kerr

Cristie Kerr comes from the United States of America and was born in 1977.  Cristie has become quite a decorated female golfer with 26 professional wins to her name.

Cristie

Cristie has a staggering number of 19 wins on the LPGA Tour. One of the amusing facts about her is that she is naturally left-handed, yet plays golf with her right hand.

In her bag, you will find a PARSONS Driver, a Ping putter, and a Titleist-PRO V1 ball, etc. She is very active with social work and often spends time doing breast cancer charity work during her free time.

Belén Mozo

While talking about popular female golfers of the year, it would be unfair to miss out on the Spanish Belén Mozo. She was born in 1988 and turned professional in 2010.

Belen is currently playing on the LPGA Tour which she joined back in 2011, and the Ladies European Tour.

She received a 63T this year in Tech Championships—Indy Women.  The 2017 Masters win, her love for the gym, and her Spanish beauty, are only a few reasons why her fans love her.

As for the equipment, you will find an XR Sub Zero Driver, a Chrome Softball, and a Fers Apex Pro 16 etc

When we think golf, often names like Tiger Woods and Rory Mcllroy come up, but we are about to change that placement in your mind. In this article, you will read about five of the best female golfers in 2017. 

Sandra Gal

She is easily one of the most popular female golfers of 2017. The German beauty was born back in 1985. She began playing golf early in her childhood and featured in the German National Team at the age of 17.

Long before anyone knew, she was winning titles and gaining limelight.

In 2007, she qualified for the LPGA Tour and within a year, turned pro. Sandra achieved T15 in 2011, T12 in 2012, and T19 and T25 in 2013, and is still playing on the LPGA Tour. She uses the Driver GBB Epic, 3 and 5 wood GBB Epic Sub-Zero, and a Callaway Chrome Soft.

Blair O'Neal

The US-born Blair O'Neal is another one of the favorite golfers from 2017. She was born in 1981 and started practicing the sport from the age of 13.

Soon she took her love for golf to the next level by becoming a professional golfer. She has two professional wins to her name.

Blair has successfully finished T68, T22, T64, T52, and T37, and is known to use the infamous Cobra drivers. She is a model on the side and is loved by millions for both of her elite professions.

Cheyenne Woods

Another one of the favorite female golfers from this year is Cheyenne Woods. She is a US National who is arguably the most famous female golfer around the globe. Cheyenne was born in 1990.

She found her love for golf in college where she won back-to-back championships in 2006 and 2007.

After becoming professional in 2012, she has won two important tournaments including the Volvik RACV Ladies Masters where she won by a margin of two strokes. She uses a Nike VRS Covert Driver, a Nike RZN Black Ball, and Nike VR Pro wedges, etc.

Cristie Kerr

Cristie Kerr from the United States was born in 1977. She is quite a decorated female golfer with 26 professional wins to her name.

Cristie has a staggering number of 19 wins on the LPGA Tour. One of the amusing facts about her is that she is naturally left-handed, yet plays golf with her right hand.

In her bag, you will find a PARSONS Driver, a Ping putter, and a Titleist-PRO V1 ball, etc. She is very active with social work and often spends time doing breast cancer charity work during her free time.

Belén Mozo

While talking about popular female golfers of the year, it would be unfair to miss out on the Spanish Belén Mozo. She was born in 1988 and turned professional in 2010.

http://www.callawaygolf.com/golf-clubs/drivers/drivers-2016-xr-pro-sub-zero.html

Belen is currently playing on the LPGA Tour which she joined back in 2011, and the Ladies European Tour.

She received a 63T this year in Tech Championships—Indy Women.  The 2017 Masters win, her love for the gym, and her Spanish beauty, are only a few reasons why her fans love her.

As for the equipment, you will find an XR Sub Zero Driver, a Chrome Softball, and a Fers Apex Pro 16 in her bag. Go Girl!

Cover Image Credit: https://pixabay.com/en/golfer-golfing-golf-swing-woman-960914/

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