Source | LinkedIn | John Boitnott
Starting a new business is exciting, especially when you have an idea you know will help others. But having your own business is also stressful.
Even when you take all the right steps — selecting a business model, writing a detailed business plan to attract potential investors, leveraging social media to build a customer base, and focusing on cash flow — your small business may still struggle along the way.
Here are five of the biggest challenges new entrepreneurs face, even with extensive planning and determination. Don’t be afraid of these common challenges. Almost all successful entrepreneurs overcome them at some point, and you can too.
1. Lack of support
A lack of support is one of the many challenges you may face when starting your own business. It can be tough when others don’t believe in your idea, your ability to succeed, or you as a founder in general.
Get a mentor or business adviser to build support when family, friends, and colleagues aren’t there for you. Even other young entrepreneurs can provide support because they may have experienced some of these challenges and found a way to move past them. Their advice and hard work can inspire you to keep going even when those closest to you may not support your vision.