OBSTACLES THAT GET IN THE WAY OF THE AMERICAN DREAM

It’s always wise to be aware of what obstacles that can get in your way while you’re reaching for the American Dream.  Here are some of my obstacles that I encountered and conquered: 

 

1. Lack of a written Business Action Plan

 

Initially, I said that my Plan was all in my head, but it didn’t’ take me long to discover that I needed a written Plan if I wanted to succeed.

2. Going it alone

In the beginning, I was able to function alone, but as the business started to grow, I needed to hire employees including: the technician who assumed some of my work load, a manager to run the overall operations, the financial manager and I continued as the visionary.

3. Run out of cash

In the excitement of starting my business, I lost sight of the actual amount of money that I needed to operate during my first year. I took my Business Action Plan to the bank and secured a micro-loan.    

4. Not knowing my customers’ specific wants and needs

I discovered that if I did not stay abreast with my customers’ emerging wants and needs, then I knew that I was heading for failure.

5. Ignoring the numbers

I made a bold statement that I was in business to make a profit and that was my “bottom line”. I quickly hired a reliable bookkeeper to monitor and report to me about my ongoing financial status.

6. Its human nature to be attracted to what’s popular or hot

 

I was very careful that I chose a business operation that didn’t have the potential of “fizzling out” fast. I stayed current with what was going on in my business world and stayed alert for trends that come and go. I had to be constantly aware of what my customers wanted and was willing to continue to buy.