Jackalyn Rainosek, PHD - Challenges That New Businesses Must Overcome

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Jackalyn Rainosek

• Challenges That New Businesses Must Overcome

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• Jackalyn Rainosek, PHD has worked alongside young
  entrepreneurs for most of her career and often
  helps them to navigate the challenges that
  operating a business can present.
• New business, in particular, face a host of
  obstacles that must be traversed in order to
  become successful, so consider how you will
  tackle all of the following as you work towards
  your goal.

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Money Management

• Many young entrepreneurs enter business with an
  expertise in their field and little else to go
  on.
• The ability to run a business effectively will
  come with experience, and it is important that
  you understand how to properly manage your money
  from the off.
• This may mean hiring a professional to help you,
  and the sacrifice will be worth it in the long
  run.

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Fatigue

• Running a business is difficult at the best of
  times, and a company that is still in the process
  of finding its feet can present untold stresses
  to the owner.
• As an entrepreneur you must be prepared to work
  long hours so that you can handle everything the
  business requires of you. This can often lead to
  fatigue, reducing your productivity in the
  process.
• Remember to rest when you can and begin
  delegating tasks when it becomes appropriate.

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Marketing

• Many new businesses struggle to justify marketing
  expenses and it is important to remember that
  much of building a business revolves around
  getting the brand out there and developing a
  reputation.
• Jackalyn Rainosek, PHD recommends using free
  social media sites to generate word of mouth and
  carefully considering your target market when
  considering marketing strategies.

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