What are the hurdles one needs to cross when starting a small scale business?

[Heatman]

From my experience that the new business is now believe we are the main issue is but for you to be able to get customers for your new business is a very big challenge.

 

[Razor1911]

From my experience that the new business is now believe we are the main issue is but for you to be able to get customers for your new business is a very big challenge.

You need to advertise well. It is better that at first you should invest some money in promoting your products. When people will know about your product they willl readily come for your products to buy it.

 

[Haveit]

First, you need to overcome the fear of why not to start a business then you need to know what business you are going into and how to be successful in the market.

 

[Razor1911]

First, you need to overcome the fear of why not to start a business then you need to know what business you are going into and how to be successful in the market.

Yes, the fear is needed to be overcome in order to start a business. If we don't even start any business and take risk, there is no chances of making profit. Some amount of risk should be taken if we want to gain something. But that risk should be calculated and well managed.

 

[Richard92]

Starting a business can be really hard. One of the hardles faced is the unavailable of customers to patronize you. This can be dealt with by first conducting surveys before starting the business. Hence you will know if the business is marketable and who your potential customers are.

When starting a small scale business most of the things you have to do is first of all have a plan I have a good location and also the required capital to start of such business with this you are good to go.

 

[eLdavis]

No business is actually easy to startup and run be it big or small, i think the best thing to do is planning. Get a map to set out your goals and how you would wish to achieve these goals then carefully put it in action and follow your blueprint.

 

[tyrim88]

Oh, where to start!? There are so many hurdles and they keep changing as you grow and evolve. From my own personal experience, I'd say, always have your wits about you and be very careful who you trust. Don't believe everything people say and promise - many of them will let you down. Also, keep your eye on the ball, watch the competition to position yourself just right - some may steal your ideas but don't let that faze you because you must be doing something right. If you don't know people in high places, you may struggle to get a foot in and have doors slammed in your face - if you believe in your hustle and have a passion for it, don't let it slow your roll. Keep it moving because one day you'll get a breakthrough.

There are various huddles you will definitely face as a new business owner,but what i have observed sis that most challanges are peculiar to you and your business while some are general.some general problems,is the startegy on how to aquire new customers while personal coul be not knowing how to manage your finances properly.

 

[Heatman]

Finding a good position business location is one of the biggest challenge that is facing a new business because the location is going to determine how your business is going to sell.

 

[Bookwormlux1]

Starting a business can be really hard. One of the hardles faced is the unavailable of customers to patronize you. This can be dealt with by first conducting surveys before starting the business. Hence you will know if the business is marketable and who your potential customers are.

Survey would also enable one to understand the environment where a business is sited and also get to know what sell better so as to generate good sales and patronage.

 

[Haveit]

Yes, the fear is needed to be overcome in order to start a business. If we don't even start any business and take risk, there is no chances of making profit. Some amount of risk should be taken if we want to gain something. But that risk should be calculated and well managed.

It's a financial term that with risks comes reward, and the higher the risk the higher the profit but it shod also be known that a higher risk can lead to a higher loss too.
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There are many challenges faced by a small business owner. Among them is the financial problem to expand the business, other is how to generate customers and even how to to know the want and need of the customer and how to satisfy them.

Small scale business fave financial challenge more often than big business because the money is limited is why one lots for small scale and the economy is not business friendly so expenses keep booming up.

 

[Razor1911]

It's a financial term that with risks comes reward, and the higher the risk the higher the profit but it shod also be known that a higher risk can lead to a higher loss too.
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Small scale business fave financial challenge more often than big business because the money is limited is why one lots for small scale and the economy is not business friendly so expenses keep booming up.

I do agree that higher the risk is higher the reward. But taking too much rest can be dangerous also. Our ultimate aim is to make good profit with less risk. A proper risk management plan should be implemented.

 

[Kunkun]

Well starting a business either small scale of large scale isn't no easy thing and lots of efforts is put into it, one of the obstacles to be faced is creating awareness and getting attention for the new business

 

[Haveit]

I do agree that higher the risk is higher the reward. But taking too much rest can be dangerous also. Our ultimate aim is to make good profit with less risk. A proper risk management plan should be implemented.

That is why I said the higher the risk, the higher the reward and also, the higher the risk, the higher the risk of loss so one better plan the level of risk one can take before investing.

 

[babdud02]

You should learn to always give in to your own idea.There is nothing you can’t become in this life or there’s nothing impossible when you’re ready to give in for yourself.There is always hope when you keep on trying

 

[Razor1911]

That is why I said the higher the risk, the higher the reward and also, the higher the risk, the higher the risk of loss so one better plan the level of risk one can take before investing.

Actually the connection between risk and reward is directly proportional. When we will take higher risk, there is higher chances of getting reward but there is also chances of losing and its also high.

 

[Haveit]

Actually the connection between risk and reward is directly proportional. When we will take higher risk, there is higher chances of getting reward but there is also chances of losing and its also high.

Simple as that, which is the main reason why financial managers measure the risk of any venture or investment to make a decision if it is worth risking or not.

 

[Razor1911]

Simple as that, which is the main reason why financial managers measure the risk of any venture or investment to make a decision if it is worth risking or not.

In simple words you don't take any days you will not get any reward. If you put your cash in your locker you won't earn interest on it. Investment is subjective if someone wants high profits on the investments they should take higher risk for that.

 

[Heatman]

I don't know people don't actually know how to conduct surveys about a new business and about to get into another to get more information that will help them in that business but that can actually be done online now with soft copies.

 

[Haveit]

In simple words you don't take any days you will not get any reward. If you put your cash in your locker you won't earn interest on it. Investment is subjective if someone wants high profits on the investments they should take higher risk for that.

Not necessarily take higher risk but calculative risk. An example of a higher risk investment is ponzi and it can lead to loss as the owners of the site usually have alterior motive so doing ponzi without calculating your risk or reward would be reckless.

 

[eLdavis]

The first thing you need to fight is procrastination ,also finding customers can also give you tough time. Meeting up with the demands of the customers is also a big hurdle. Lastly following the business plans also give many small scale business problems

Exactly, currently i am having issues with a business i just started, tho i am still learning the skill (graphic design) but i have started doing some little jobs. Its not easy in finding customers. It has been a major issue and some of the customers can demand for designs that are hard to come by or colours that are hard to find.