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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The 20 Stages Of Instagram-Stalking Your Crush, As Told By 'Mean Girls'

Whether you love the presence of technology in your dating life or not, it's probably there.

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Far too often we wait for that follow request or Snapchat add to know that a boy is interested. We look to those notifications for validation of that mutual interest.

There is nothing quite like the freaking treasure trove that opens when a crush approves your follow request(or maybe you're silently looking if he is public). There is so much to do. This has now turned into an ~event~

All other priorities do. not. exist.

1. When he doesn't follow you back immediately

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Not mad, just disappointed. Actually, very mad. Seething, if you will. Honestly expected way more from Steve from Intro to Biology.

2. If he follows you first

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Hey! It's a little hard to see you down there since I'm ON CLOUD NINE RIGHT NOW!!! You text all your friends. These days, this is practically a marriage proposal. Time to start picking out wedding china? Can Vera Wang do this on such short notice?

3. If one of your friends also has a crush on him

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Sorry, Becky. Guess you'll just have to live with being a bridesmaid at our wedding.

4. If you don't follow him, but have a mutual friend who does: you ask them for screenshots

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He's private and you want to know what he is like without any consequences. You're just not ready to follow him yet, but you need some screenshots in your arsenal. This is case in point of why I should ABSOLUTELY not be considered a real adult for at least another five years.

5. Reading his bio

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The best thing it could be is just his name or school or maybe his frat. Or nothing if that is indicative of being a real live grownup who has a job(and I don't mean working at an IT start up your daddy found you). We don't really need an inspirational quote or something random that only two people understand. Your name is fine, thanks. Gentlemen, take a page out of Avril Lavigne's book and don't make everything so complicated.

6. Seeing how many followers he has

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This is something I don't really care about, but it can tell you a lot about the person. Like if they are a SoundCloud rapper trying to make it big and have clearly followed a ton of random people to try to get a follow back which has resulted in a sketchy follower-to-following ratio. If not, then they're probably normal.

7. Seeing how many photos he has

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There is nothing worse than thinking you are about to feast your eyes on all his photos only to discover that he has two photos and one is a group shot where his face is practically hidden. This will result in an hour of promising your friends that he is normal and good looking, despite what this feed might suggest.

8. Making sure he is not radiating jerk

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Saying "Saturdays are for the boys" is fine sometimes, but not every weekend. If he has more gym mirror selfies than the amount of Cosmopolitans Carrie Bradshaw has drank in her lifetime, it's time to move on. Unless you're working on a street corner, there is no need for you to be "just out here hustling/grinding."

9. Temptation to comment on a recent picture

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His hair looks really good! Or if he posts a picture of a party you saw him at this can be more tempting than buying cookies from Girl Scouts outside the grocery store. Resist, resist, resist.

10. Discovering you have a shared interest

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Oh my gosh, he went on spring break and you did too!! He went with ten friends to Panama City and you went home and ate Chinese food with your mom, but really, I don't see a difference there.

. 11. Stalking the most recent photo

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Is it with a girl? Is she prettier than you? If she commented an emoji it's freaking over. You sprint immediately to your closest grocery store and buy all the Ben and Jerry's.

12. Gathering of all the information

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Now we go into detective mode. Assuming at this stage that the dude actually had a decent amount of pictures, we now dig like Bob the Builder. We look for hobbies. We judge these hobbies. If you really like him, you concoct a plan to see how you can relate to these hobbies.

"Oh my gosh, I loveeeee fishing! I love it so much! Oh, you fish, you don't say? Look how much we have in common!"

13. Figuring out how close is he with his family

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Looking for how many times his parents surface on the IG. If you see he has siblings then if you are on a date one day you won't be trying to digest their names and ages, you'll already know. He will be blown away by your impeccable memory and interest in them.

14. Seeing something cool he did and becoming obsessed

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Maybe he studied abroad. All the heart eyes for the picture of him volunteering with Habitat for Humanity last April.

15. Pictures that make the world stop

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This might be him in a tux at a wedding with his grandma. It might be a swoon-worthy pic of him shirtless at the beach. It might be a picture of him and his wait for it… DOG and you die and blush and get so excited because you don't know what's cuter: him or the dog. These are the ones you screenshot for your friends.

16. All of a sudden it's been an hour

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You look at the clock, an hour has passed and you're in 2014. Great, now you know exactly what he wore to a middle school dance. Awesome!

17. When going into the tagged photos leads to being 3 people deep

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In tagged photos, you find previous girlfriends, and naturally, you have to stalk. Luckily, her account is public and you see that her best friend could easily be the next contestant on the Bachelor and probably win the whole thing. So you click on her profile and stalk her too. Then you see her boyfriend and look at his profile and feel genuinely hurt that you won't be getting an invite to their wedding.

18. Not blurting out everything the next time you see him

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You know you can absolutely NOT let on that you stalked him at all. Even though there were ten close calls, you did not accidentally like anything. Consider that a success. They should give out trophies for that. He doesn't need to know that you dropped your phone into the Oreo crumbs that were on your face at 2 a.m. As far as he knows, you simply approved his request and moved on with your life. If it comes up you should say "Oh, I didn't even remember we were friends on Instagram."

19. Crafting your first post with him being a follower

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It has to be hot, but it has to be effortless. You could do a selfie but you want him to know you have friends. But they can't look prettier than you. Should you be mysterious and post an artsy shot? Or post a travel throwback? *Books plane ticket to a cool destination just to take a pic he might like*

20. The first time he likes your post

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You feel like the definition of fabulous. A Snapchat is coming down the pike for sure. Ugh, how can you hate a culture and love it so much at the same time?

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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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