The most difficult challenges for an entrepreneur might show variety depending on each different scenario. However, there are few challenges that never change, and every single entrepreneur runs into these obstacles sooner or later. In this article, we will raise some questions to understand what an entrepreneurial path is. Because understanding the path is the only way for building a defense mechanism for the future and be prepared.
As you all know, entrepreneurs have always existed throughout the history. Although entrepreneurship has turned into something brand new with ongoing technological advancements, the principle is the same. As a result of the technological advancements, availability of resources has increased, and information has become almost free for everyone which is very useful. On the contrary, the convenient access to information has simultaneously increase the competition turning into a problem for many entrepreneurs.
In my opinion, no matter what the situation is one of the most difficult challenges for an entrepreneur is “yourself”. Because there are many things you might need to change about yourself if you’re willing to become a dedicated entrepreneur. Let’s take it easy and go over step by step to understand the path and in the end of the article I will explain in more details what I mean.
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What is an entrepreneur?
Entrepreneur: a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.
“entrepreneur”. Dictionary.com Unabridged. Random House, Inc. 30 Mar. 2018. <Dictionary.com http://www.dictionary.com/browse/entrepreneur>.
Similar to the one above, you can find many different ways of defining entrepreneurship. However, I would like to define it with a different perspective from my point of view. This is just my opinion relying on my experiences, so you don’t have to take it seriously. Yet, I believe there are some points that will be beneficial for you to reconsider. Simply, I can say that entrepreneurship is a state of madness. It should be considered as mental disorder, but at the same time it’s basically the best feeling one can have.
I am serious and I’m sure you understand me if you consider yourself as an entrepreneur. Think about your friends who are sitting in their air-conditioned offices and just completing the tasks given by their supervisors. Throughout the year, they are having twenty to sixty days of vacation with all the health benefits and available resources. Weekends are off. When day go to a party or a cocktail, they easily network using the brand name. Sounds like a dream, doesn’t it?
You might never have any of these if you’re walking on the entrepreneurial path, but would you really want to have this? No! Because it’s just ordinary.
How is Entrepreneurial Lifestyle?
Let me picture you how an entrepreneur’s life most likely looks like. First, you will not have certain work hours which might seem beneficial in the beginning. However, you’ll lose schedule and it might easily become overwhelming. If you are a dedicated entrepreneur, you might need a dictionary to understand the meaning of “weekends are of” because you’ll feel as if you are betraying your passion during your fun time. Networking can become much harder because they will never understand what you’re doing unless you meet people thinking alike.
Even more, you might hear “So, when will you get a real job?” which is the most disturbing question. Yet, once you meet someone sharing your point of views, you can just talk for hours about something rhetorical. People without entrepreneurial spirit will never understand that and this is basically the best part. As I said earlier, being an entrepreneur is madness and it’s lonely, but it’s also unique. Whether you’ll become successful or not in the end, you will appreciate every moment spent throughout your journey.
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What are the Top Five Challenges for an Entrepreneur?
In the beginning of the article, I have said one of the most difficult challenges for an entrepreneur is “YOU”. Of course, there are many other things that will come into your way such as fund raising, networking, planning, etc. However, most of these problems occur due to your personality. Therefore, it’s very important to study yourself and find people who will fill in the missing spots through the journey. Having said that this is my list of the top five challenges for an entrepreneur:
Discovering Yourself
If you’re planning to follow this path for long, you should stop fooling yourself. Be honest to yourself and understand your personality and capabilities. Because it will damage your plans more if you just lose yourself by dealing with things that you can’t handle. Sometimes, it’s hard to admit your weaknesses, but this is the only way to start a strong path.
Raising Capital
Of course, not having enough resources is a very common issue for entrepreneurs whether it’s the capital or employees. However, not having enough capital would never scare an entrepreneur because they are dreamers and they know if they do their part right, money will come and find them. It might sound so unreal, but it’s basically true. Yet, reaching out to people with resources and asking their help is also great idea. Feel free to use your connections and share your thoughts with them which will bring you great return.
Time Management
This is another critical issue. Most of the time, entrepreneurs fail to move forward because of the lack of time-management skills. Imagine, you have the whole day in front of you, but there are also millions of tasks needs completion. If you’re not moving forward with a well-created plan, you might likely to get lost and keep postponing tasks. Because there is lots of time in front of you, but there isn’t! You will realize that you lost so much valuable time due to rescheduling important tasks.
Planned Growth
No matter what you do, you need a direction. Even if you’re not looking for quick returns, you must still have a growth plan to control your next steps. Mostly you might not be able to meet your goals as there is always something unexpected in the entrepreneurial path, but this should be a lesson to create more realistic planning for the future instead of demotivation.
Task Distribution
We want to do and control everything as it’s our passion. However, it’s not a great strategy to move forward carrying on all the pressure by yourself. You should find people who are responsible and share the same attitude towards work. This will turn the process into something much simpler and allow you to focus on the future strategies.
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Is There an Easy Way to Overcome the Most Difficult Challenges for an Entrepreneur?
I think the easiest way to handle these challenges as an entrepreneur is to stop and think about your passion. Understanding why you chose to live this way will help you get back on your feet and refresh yourself. In the end, not a lot of people are brave enough to take all the risks you have taken, so appreciate yourself for making the decision to walk this path.
