What would challenge or threaten the success of your business?
Research and ask other business owners in your field how they manage challenges.
How could you prepare to avoid or overcome these four challenges?
Personal Challenges
These things effect you personally:
- Health
- Family
- Schedule
- Fear
- Divorce
- Stress
- Diet
Financial Challenges
These things effect your businesses’ fiances:
- Start-up costs
- Taxes
- Invoicing clients
- Increasing revenues
Structural Challenges
These things effect the foundation of your business:
- Losing a business partner
- Expanding your business
- Time management
- Hiring employees
Challenges of Nature
These are things you don’t have control over:
- Natural disaster
- Seasonal ups and downs
- Internet goes down
- Mobile phone service is down
Next What does your research show?
Back to Module 2 Outline