One big challenge is finding an untapped niche.

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

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