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As businesses recover from the pandemic-fueled events of the last few years, as well as grapple with the uncertainty of today’s economic climate, entrepreneurs are likely to feel cautious and unsure of how to plan for the success of their businesses going forward. After all, how can you plan for something you don’t know is going to happen? Mistakes may be made and line items may be missed, but thoughtful planning is still the best way to ensure your business continues to thrive in uncertain times. As business leaders themselves, the members of Young Entrepreneur Council have given extra consideration to the issue and below share particular expenses every CEO should budget for this year and why doing so is extra important during this time.

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Although selling on platforms like Amazon is becoming more and more competitive, successful product selection can help sellers stand out. 

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Entrepreneurship is a journey filled with obstacles that every hopeful business owner must defeat if they want to prove they have what it takes to succeed in the business world. And while some obstacles are easier to overcome than others, there are those which can be lifelong hurdles entrepreneurs will need to work to climb in order to find true success and happiness.  To share their own insights into this journey, 10 members of Young Entrepreneur Council discuss the biggest hurdles most new entrepreneurs struggle to overcome, why and what they recommend doing to come out victorious on the other side.

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All businesses need some sort of investment to get started. Whether that money comes from the entrepreneur, their family and friends, an investor or some other solution, if you don’t have experience raising money, it can be easy to fall into certain traps or attempt certain strategies that may seem like smart moves at the time but actually end up sabotaging your efforts later on. To help ensure this doesn’t happen to you, the members of Young Entrepreneur Council share some guidance below. Here, they discuss the biggest mistakes they ever made while trying to raise money for their startups and what they recommend others do to avoid making those same mistakes.

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Members of Young Entrepreneur Council offer tips that first-time founders might forget to think about. Planning the nuts and bolts of your business is a key first step to starting off with the best chance at success. Determining what the product or service will be, what to name the business, whether it’ll be strictly e-commerce or a brick-and-mortar store and many other considerations are all at the top of the to-do list for new entrepreneurs. Other aspects of launching a business may fly under the radar, however. Below, a panel of Young Entrepreneur Council members lists some unheralded aspects of starting a business that first-time entrepreneurs may not be planning for and why they should if they want their businesses to thrive now and in the future.

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As a new leader, there's an exciting sense of accomplishment when you deem your company "open for business." However, there are multiple decisions left to be made on the operations side that can make a new organization sink or swim. This is especially true if you have employees who are counting on your leadership to grow a successful business. To share their insights, nine Young Entrepreneur Council members each discuss one common operational mistake leaders make when first starting out that can jeopardize the future of their business. If you're concerned about your startup's success, read on to learn how these entrepreneurs recommend avoiding these common errors.