Regardless of your industry, entrepreneurs and small business owners face common challenges. According to the August 2018 report on Small Business Economic Trends, the top 10 challenges are:
► Government regulations
► Federal Income Taxes
► The economy
► Tax compliance
► Cash flow
► Staying passionate
► Client diversification
► Scaling without sacrificing quality
► Hiring new employees
Impact of Accessing the Right Resources
These commonly experienced obstacles fall into the six key elements needed to support entrepreneurs: Finance, Policy/Regulations, Support/Connections, Culture, Human Capital and Markets.
As you evaluate the top 10 areas that may threaten your business, what resources can you access to turn obstacles into opportunities? How can you build a professional infrastructure that keeps you moving forward?
In their book Beyond Collisions: How to Build Your Entrepreneurial Infrastructure, co-authors Maria Meyers and Kate Pope Hodel state that: “Entrepreneurs should not accidentally happen upon the resources to become connected to networks for growth and education.”
Both community-building organizations and the entrepreneurs they serve share the responsibility to nurture the ecosystem. Services need to be available to help small business grow. And, business owners need to seek out, engage and use their services.
Leveraging the right resources within the above six areas can help you identify gaps in your business and create the community to help you bridge them.
KC Entrepreneurial Resources
With hundreds of professionals dedicated to supporting entrepreneurs in Kansas City, our entrepreneurial ecosystem is rich with people, programs, funding and education for small business owners.
Check out the EnCorps45 Resource Guide to find the resources that fit your needs.
As always, if you’d like an impartial professional to “issue spot” potential obstacles, EnCorps45 offers Coach and Connect. Feel free to contact us for support, resources and referrals.