If you ask entrepreneurs what problems they faced when starting a business, the answers will usually be the same: money, employees and personal issues.

All businesses need enough equity capital to survive startup and growth with sufficient cash flow coming in to pay the bills. Employees will consume a large portion of that cash flow, but they are part of the growth of a business.

In the meantime, the owner has to maintain enough self-confidence to persevere through the negativity and huge challenges and not lose the belief that the business will undoubtedly succeed.

So, what is the first thing to do when starting a business? No simple answer exists for this question. An aspiring entrepreneur must address all of these challenges at the same time. However, being able to successfully handle all of these problems is the gratification for starting the business in the first place.

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