<human>:  What are the challenges of running a small business?
<bot>: 
1. Managing cash flow.
2. Finding and retaining customers.
3. Keeping up with the latest technology.
4. Securing financing.
5. Dealing with competition.
6. Handling legal issues.
7. Creating and managing a budget.
8. Developing effective marketing strategies.
9. Maintaining a work-life balance.