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3 challenges every new entrepreneur faces

3 challenges every new entrepreneur faces

Entrepreneurship

Anjan Purandare

Anjan Purandare

5 Sep 2016, 10:56 — 4 min read

The business world can be extremely challenging to the uninitiated. The best of the best of entrepreneurs are brought up in this competitive environment, and it is how they develop their competitive edge.

But for every successful CEO and investor, there are hundreds of washed-up, drained-out, beaten-down, caved-in would-be business men and women, who all succumbed to the uncertain business landscape and, more than anything else, the early roadblocks that hamper growth – that early struggle from birth until the revenue starts flowing. 

The early trials are extremely tough on the mind and the pocket, and many fail repeatedly until an eventual win, but these trials are a rite of passage. They tell the business world that you’ve made it and you deserve a place in their world. You'll need to make the best use of the startup ideas you have.

If you’re tossing over in your mind breaking into the entrepreneurial world, it would do good to bear in mind the following challenges and accept the difficulties they will certainly throw at you.

1. No funding

You can start off positively with little funding, but money will have to come in at some point. It’s like the old saying: you’ve got to spend some to earn some. The usual path taken is to find investors, but the digital world has opened up the myriad possibilities of crowdfunding.

It isn’t unheard of for entrepreneurs to start with only a few hundred dollars and go sky high from there. Creativity and innovation, that’s important.

2. Uncertain marketing tactics

A few new entrepreneurs will take the extent of their marketing campaign to be posting on social media and printing a few flyers. This will not get you far.

Marketing is much more than simply advertising your services or products on social media. You’ve got to be more creative than that if you’d like to be heard amongst the hundreds of thousands of others out there. Tailor your marketing campaign to suit your business and develop a strong understanding of your target market.

3. The full-time question

You’ll hear stories of entrepreneurs, even the moderately successful ones, making more money in a day than they did in an entire year in their previous jobs. This is undoubtedly a great motivating factor for many entrepreneurs. (But money’s not always the pull)

But when can you make the critical decision? Most businessmen would tell you when you’re sure of your plan and when you have enough savings to carry you through six months. The problem here is the former is never certain and the latter can be just the same. You’ll have to trust your gut and stick to it.

Having read all this, would you still consider starting your own business? If not, then that’s a sure a sign as any that perhaps you’re not cut out for the cutthroat business world. Determination, belief, persistence and commitment – these are what make one successful and a top entrepreneur. The greatest paucity of funds, innocent ignorance and negative criticism can’t stop any entrepreneur who possesses these qualities, even if that success arrives only after many, many attempts.

What were the problems you faced in your entrepreneurial endeavours? Share with us in the comments section below.

 

Article & image source: http://www.ivyclique.in/article/Start-up-Essentials/Startup-Tips-3-Challenges-Every-New-Entrepreneur-Faces/NDE2MQ==/MTIy

 

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.

 

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Anjan Purandare

Ivyclique is a rapidly growing start up that is disrupting the content marketing space. We do product descriptions, blogs, reviews, omni channel marketing campaigns, in bound...

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