Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.

Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.

Below is our interview with Julie Cole, Co-Founder and Sr. Director of Public Relations at Mabel’s Labels Inc.:

What does your company do?

Mabel’s Labels began 14-years-ago by four moms in Hamilton, ON, as a basement start-up, and has become the best-known brand of durable, personalized labels for families. Our growing line of products feature baby labels, child safety products, sports labels, household organizational labels and seasonal items. They’re extremely durable and laundry, dishwasher and microwave safe. Mabel’s Labels are 100% guaranteed.

We sell our products worldwide at and across North America via fundraisers at schools, daycares, camps and other organizations.

What is your role? What do you enjoy most about your role?

I’m the Senior Director of Public Relations at Mabel’s Labels. As company spokesperson, I love connecting with our community and spreading the word about Mabel’s Labels throughout the media. As a digital influencer and sought after speaker and emcee, I have informed and entertained audiences at countless conferences including The Sage Summit, Marketing To Women, Canadian Marketing Association, International Camping Conference, to name just a few. I have appeared on NBC’s The Today Show, HLN’s Raising America, Canada AM, Breakfast Television, The Marilyn Denis Show, among many others. I am a syndicated blogger for The Huffington Post, PTPA Media, Yummy Mummy Club, and our company’s Mabelhood blog.

What are the biggest challenges in your business right now?

I think the most important, most challenging and BEST part of the business is the people who make the business; but building and keeping a great staff team can be tough! It’s extremely important to create a corporate culture that makes people happy to work for your company. You want to create an environment where people can be entrepreneurial in their own jobs. It’s not always easy, but the end result is a top notch team that is invested in your company and loyal to your brand. It is a challenge to make the people the priority, but it’s worth the effort!

If you could go back in time, what business advice would you give to a younger version of yourself?

You better be comfortable with being uncomfortable! As soon as you think you have a handle on your business, there will be growth and change and you will have to adapt quickly. If you don’t have an appetite for risk and you like to hang out in your comfort zone, entrepreneurship is NOT the place for you! Another lesson learned was to hire slow and fire fast. We held onto staff that was not a fit for far too long because we were reluctant to let people go. We often had to remind ourselves that having the wrong team member on the bus can bring down morale and cost the company a lot of money. Firing an employee is never easy, but sometimes it must be done.