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  • Cash flow management
  • The challenge: Cash flow is essential to small business survival, yet many entrepreneurs struggle to pay the bills (let alone themselves) while they’re waiting for checks to arrive. 
  • Hiring employees
  • The challenge: Do you know who dreads job interviews the most? It’s not prospective candidates — it’s entrepreneurs.
  • Time management
  • The challenge: Time management might be the biggest problem faced by entrepreneurs, who wear many (and all) hats. If you only had more time, you could accomplish so much more!
  •  Proper budgeting and planning are critical to maintaining cash flow, but even these won’t always save you from stressing over bills. 
  • Delegating task
  • The solution:  Be exclusive. Far too many help wanted ads are incredibly vague in terms of what qualifications candidates must have, what the job duties are, what days and hours will be worked, and what wages and benefits will be paid
  •  Choosing what to sell
  • The challenge: You know you could make a mint if you just knew what products and services to sell. You’re just unsure how to pick a niche.
  • The solution: Make time. Like money, it doesn’t grow on trees, of course, so you have to be smart about how you’re spending it. 
  • Choosing what to sell
  • The challenge: You know you could make a mint if you just knew what products and services to sell. You’re just unsure how to pick a niche.
  • The solution:  Find good employees (see above) and good outsourced contract help, for starters. 
  • The challenge: You know you need to delegate or outsource tasks, but it seems every time you do something gets messed up and you have to redo it anyway.
  • The solution: Admit that you’re weak in identifying prosperous niches, and delegate the task to someone who is strong in this area. 
  • The solution: Again, if you’re not adept at creating marketing plans and placing ads, it’s a good idea to outsource your marketing strategy to someone who is.
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