Challenges Faced By Entrepreneurs

Episode 06


About The Show

We have an in-depth look at the challenges faced by entrepreneurs when we answer a question from Sam one of our listeners on the challenges faced by entrepreneurs when they start a new business.

Having worked with numerous small businesses over the years I have identified 5 key areas all new business owners should focus on before opening their doors and well into the first 12 months of operation.

What You'll Learn!

  • The 5 most common challenges faced by entrepreneurs and mistakes new business owners can face
  • How the lack of proper planning can derail any new venture before it even begins
  • Why it is important to start planning before you spend any money and how our Free Business Plan On a Page can help with that
  • Importance in clearly defining the roles and responsibilities within your team and how a solo operator can cover all of these with good time management
  • Why understanding your financial numbers and have regular access to them is so critical
  • The importance of having a cashflow budget before you open the doors
  • The struggle of having inadequate start-up capital.  

Links Mentioned

The E-Myth, Michael Gerber dispels the myths surrounding starting your own business and shows how commonplace assumptions can get in the way of running a business. He walks you through the steps in the life of a business from entrepreneurial infancy, through adolescent growing pains, to the mature entrepreneurial perspective, the guiding light of all businesses that succeed. He then shows how to apply the lessons of franchising to any business whether or not it is a franchise. 

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Download Your Free Profit Plan On A Page

This template and  instruction guide will help you identify the growth opportunities hidden in your business. Identify the things you should be doing and highlight the things you should stop doing.

Start designing your business profit with purpose.

Learn More…

Join other business owners in our Free Facebook Community all sharing their trials, ideas and wins in business. It's a fantastic community of driven and supportive entrepreneurs.

Full Episode Transcript



Cashflow is critical to success in business. You can have the best business idea ever, but if you can’t generate cash and pay the bills you won’t survive.

Grab my 12 simple ways to boost your cashflow cheatsheet!

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