Launching a new business comes with its own number of challenges, from marketing issues to hiring the first employee. But that’s okay. You should expect, and accept, the inevitable obstacles that come with starting a company.
It’s All Relative
The more your company scales, the greater the challenges become. So, whatever you’re going through now probably won’t be nearly as overwhelming as what you’ll have to go through in a few years. Don’t let that scare you. Let it inspire you.
When you’re faced with challenges larger than you’ve previously experienced, you should consider it a sign that you’re heading in the right direction. That’s exactly what happened with MOBE.
We really began to take off toward the end of 2011, and the challenges we faced seemed to intensify with each passing, successful year. However, those challenges seem relatively minor compared to the size of issues we face today.
Two Big New Challenges
The reality is that MOBE will continue to face the typical problems that most businesses have to endure: employees, contracts, marketing, branding, expansion, etc. But since we’ve grown, there are two main challenges that have occurred as a result:
1.) Expansion: Complying with International Laws
Once you’ve established yourself nationally, your next goal should be to explore global markets and to expand on an international level.
However, you can’t simply launch in a new country without doing your homework. Many countries have their own laws when it comes to affiliate marketing. If you unwittingly neglect international laws, the impact on your business could be catastrophic.
We’ve managed to expand MOBE into international markets with great success. However, when we went to Hong Kong, for example, we were faced with unprecedented challenges. Not only was it a new market, but the rules and regulations of running a company like ours was different in comparison to those of America. Likewise, UK and Australia, for example, have different rules from America.
One way to prepare yourself for international expansion is to have a dedicated team that carries out thorough prep work to help you understand all the legalities of your prospective market. As Taki Skouras, co-founder and CEO of international wireless accessories retailer Cellairis, says, “An organization should have a strong team solely focused on international growth that is ready to face challenges and fully support the expansion.” (Business News Daily).
Research your new market thoroughly. Once you’ve done that you can begin to implement your marketing strategies. (But remember, there may be different advertising rules, too!)
2.) Managing Consultants
As we’ve scaled and become more “visible” to a wider audience, it’s become increasingly difficult to ensure that our consultants are not making claims that will be difficult for MOBE to back up. After all, consultants represent the company and we are essentially responsible for any claim that we make.
If your company has experienced an increased number of representatives due to expansion, it’s vital that you monitor their actions, especially if they’ll be interacting with prospects.
Although it’s impossible to prevent every potential problem, you can minimize any potential damage by providing ongoing training. Keep reminding your staff of their responsibilities and be sure that they are familiar with your code of ethics and mission.
One Perfect Problem
Once MOBE has the right amount of successful products and the people that create those products make good money from them, I predict that we’ll have product owners from various other platforms eager to sell on the MOBE marketplace.
Just like ClickBank and U2Me (digital products), who have both been at a similar stage as MOBE not too long ago, we’ll soon be offering a vast number of products. This is another challenge that is a by-product of success. And we’ll be ready to deal with this “perfect problem” when the time comes.
With experience and growth, you’ll become much better at ploughing through problems.
A helpful perspective for the challenges that you face today is to remember that it’s all relative! While the challenges you’re facing now may seem difficult, it’s a reflection of your company’s growth and expansion, and that should be the goal of every business owner!