What are the challenges to starting a new business?

One big challenge is finding an untapped niche.
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TRANSCRIPT

Question: What are the challenges to starting a new business?

 

Carrie Schwab: I would say starting business is not necessarily my spatiality, but I think the biggest thing is finding a niche, finding a need for people, that is difficult and very-very important to being successful.

Funding is another big issue; finding people to invest in your company or your product.

I do know, from statistics, that women do have a harder time getting investment dollars; so that is a challenge as well.

Another key is surrounding yourself with people who are smarter than you. That is a key to success and something that we apply at Schwab.

 

Recorded on: March 27, 2008


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