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 Yury Morozov, Founder and CEO at Bubbletone Blockchain for Telecom:

What does your company do?

We provide high tech mobile, fixed-line telecom services, and new-generation services to corporate and private clients. We eliminate international roaming by introducing blockchain technology .Why should someone visiting another country pay 8–10 times more than a local? This is unreasonable. We provide a solution to this frustrating problem. With our Bubbletone app, which can be downloaded and installed on Apple and Android, we eliminate international roaming, customers are not required to replace their SIM card, and are able to retain their usual number. We partnered with operators that currently provide services to their subscribers in more than 80 countries comprising Europe, Northern America, Asia and Australia. In addition, with Bubbletone Blockchain customers can make calls and use data during worldwide travel at local rates with direct connection to local operators. We also offer a next-generation messenger packed with amazing communication features.

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

I am the CEO of Bubbletone Blockchain for Telecom. It is truly gratifying to see the tangible results of your work, when you take a fresh idea and, along with your colleagues, make it a reality, creating something valuable that customers will appreciate. I am excited by the opportunities that blockchain technology presents for telecom. What I enjoy most is introducing novel blockchain technology and transforming the traditional business model in telecom. The feeling that we make a difference, and that the future is here, is thrilling.

What are the biggest challenges in your business right now?

Our biggest challenge now is to create a large platform for the telecom market that will connect users and operators directly and to overcome certain resistance from some companies and businesses who oppose the introduction of blockchain to the telecom market, because in so doing we are essentially creating new rules by offering a distributed and independent platform and removing the bulky and outdated infrastructure. Blockchain eliminates the intermediaries, and provides a powerful mechanism though which to reduce costs and lower tariffs for customers significantly, and the middlemen are not too happy with that.

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

The road to success in business may be frustrating and exasperating. I have always had a passion for what I did, and never gave up in the battle to attain my goals, even when confronted with challenges, financial or otherwise. Being successful is being determined about what you do; I believed in my cause and had patience.

Also, I would recommend recent graduates and the younger version of myself to study constantly, because what you get in textbooks and University auditoriums cannot compare to what industry and business expect of young entrepreneurs. Hear me out: cultivate your networking abilities, improve your professional expertise by nurturing meaningful relationships with gurus in your profession, look for mentors and befriend those who have been in your business for years. Your experienced colleagues will be able to share a wealth of expertise with you.