Starting a business is a huge accomplishment for most entrepreneurs. Not only that but in most cases, it’s the fulfillment of a lifetime dream.
Starting a business does, however, involve a lot of challenges.
Before anyone starts their own business, it’s always a good idea to enlist the help of business consultants, which can be worth their weight in gold, pointing to opportunities for growth and preventing troubles before they start. Here are five of the critical challenges to overcome when starting a business.
Depending on a Single Client
Everyone has to start somewhere but to keep a business going, it must rely on more than a single client. Instead, a business owner must try to have as many clients as they can reasonably serve. Otherwise, if that client’s business were to fail, a dependent business will fail also.
Hailey Waller, a reporter for Bloomberg News, left the news organization on Monday and plans to attend business school.
Waller has been accepted into the Marshall School of Business at the University of Southern California.
Waller was originally scheduled earlier this year to move to London to cover energy, but the pandemic ended those plans. She has been at Bloomberg since September 2016, first as a producer at Bloomberg Television and for the past year as a reporter in New York.