Question

Describe three basic issues that can be caused by not properly establishing your business venture. How could you make adjustments to create success?

Answer 1

If we take a closer look at the problems of kick-starting a small business, we will learn that a majority of problems are common for all business owners. The trick is to handle the challenges efficiently and intelligently. Knowing about these problems well in advance, can help you in preventing them before they become a major issue for your enterprise.

Problems in Kick-Starting a Small Business

*Funding

*Time

*Getting Clients

*Poor Marketing

*Weak Strategy

Adjustments to create success in business

Taking Advantage of the Gig Economy

You’ll hear a lot of negativity being talked about jobs like Lyft, Uber, Door Dash, Postmates, Instacart, and more. While these jobs are not plush with benefits or without their pitfalls, the mere fact they exist is a blessing to many.

Note: If you do want to take advantage of jobs like Uber and Lyft, be sure to do so soon since the automation revolution is not far away.

Negotiating

Americans are shitty negotiators. We seem to always forget most things in life are negotiable. Whether it’s your salary or the price of your future car, there is always room for bargaining. Negotiating could save your business big bucks in expenses.

Offering your services as payment

I’m going to bring in one of my top mentors I’ve ever had for this example: my mother. She is a yoga instructor and owns her own yoga business. Last month, she realized how helpful a new iPad would be in marketing her business. Knowing her friend had an iPad, my mom offered her 2 free in-home yoga sessions in exchange for the iPad. Talk about a good negotiation.

Too many people do not think this way and don’t get creative when it

Paying With Equity Instead of Hard Cash

Lastly, you can always pay with equity as opposed to hard cash. Hiring someone is very expensive, especially when you’re first starting out and strapped for cash. If you can get someone else as excited about your vision as you are, then bring them along for the journey. You don’t have to go on it alone.