Entrepreneurs, both new and experienced, face many challenges on a daily basis. Due to recent world events, including the COVID-19 pandemic, the economic climate has been negatively affected. This has forced entrepreneurs to face even larger hurdles in their pursuit of success. However, this comes with the territory, and many entrepreneurs are willing to take on these difficulties to make their goals a reality.
As entrepreneurs themselves, Cesar Lopez Sr., Cesar Lopez Jr., and Angel Lopez know firsthand the challenges faced by new business owners. The Lopez family founded Major Motion Logistics in 2018. Located in El Paso, Texas, the company is a branch of A.L Trucking, a long-time family-owned business established in 1965.
Major Motion Logistics specializes in dirt and debris removal, including sand and gravel, fill dirt, all types of rubble, construction sand and gravel, sand and gravel manufacturers, limestone, dust materials, rock, and asphalt. In addition, they provide trucking services, including dry bulk hauling, water trucks, excavation, and more. The company also specializes in Mexico border crossings. The team shares their insight into the difficulties that entrepreneurs are currently facing and what can be done to overcome these challenges.
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Securing Financing
One of the most difficult aspects of starting a new business is securing financing. Given the recent pandemic, world economies are hurting, stock markets are down, and many people and businesses are suffering financially. For an entrepreneur, this can make starting a new business very difficult, especially when it comes to acquiring financing. To overcome this challenge, the team at Major Motion Logistics recommends starting small and focusing on building up your own capital.
The key here, they suggest, is to provide great products and services along with amazing customer service. If you can keep your current clients and customers coming back then you will undoubtedly be able to grow to a place where you can finance further development. For entrepreneurs who need a little extra financing to get off the ground, there are many innovative options available thanks to developments in technology.
Crowdfunding, for instance, is a popular and promising method for securing the funds to start a new venture. Consider options like this and other out-of-the-box solutions when searching for investors.
Building A Trustworthy And Hard-Working Team
Hiring employees has never been easy. As an entrepreneur, you want to work with people you can trust and rely on to work hard. Finding these people is difficult and getting them on board and retaining them is even more challenging. In addition to being a tough task, hiring new employees is also very time-consuming. To overcome this hurdle, the team at Major Motion Logistics advises entrepreneurs to be extremely specific with what they’re looking for in an employee.
The more details you include in your job postings the better. This will help you weed out candidates before they even apply. As well, if a local job board doesn’t seem to be providing your ideal candidates, consider employing an online option. New technology allows employers to target specific individuals and to reach out to them online. This can help you acquire the best talent and save you a lot of time.
Once you find a candidate that suits your needs, it’s important to immediately develop an open line of communication. Ask them what they are looking for in a long-term employer and tell them what you expect from them. Not only will this provide clear expectations, but it will also help you, as the employer, determine how you can retain this employee if they bring significant value to your company.
Major Motion Logistics On Managing Your Team
Managing a team is also a difficult task. As an entrepreneur, the more experience you have, the easier this will be — in most cases. Unfortunately, given the restrictions of the COVID-19 pandemic, employee management has become increasingly difficult. In some cases, entrepreneurs have not been able to meet face to face with their employees, making communication and delegation challenging. To work through this difficulty, Major Motion Logistics suggests the use of technology.
Whether the world is facing a global pandemic or not, technology can significantly improve communication and the ability of entrepreneurs to delegate tasks. Online project management software, for example, allows entrepreneurs to assign tasks and due dates, share important information, and follow up on assignments.
Other online management software also exists, including digital tools for employee timesheets, work schedules, and more. Another benefit of technology-based tools — all activities can be completed anywhere and at any time, as all the data is stored online.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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