3 Challenges facing new Entrepreneurs
I was researching the net in
search of answers to a challenge I am facing as an entrepreneur ~ Lack of
motivation after a major success.
I came across this topic on a forum, and I
will like to thrash it with my followers on social media. What are the three
challenges facing you as an entrepreneur? Below are the best contributions I
gathered; add yours.
#1. Staying motivated.
The majority of entrepreneurs
don't find this hard when starting but staying motivated becomes a challenge
once they hit the bull's eye like me: I easily get distracted by other projects
(bigger and smaller alike). It's like a switch off. Many others begin their
journey with lots of misfortunes and only a few victories. I understand this
can be uninspiring yet; some people get motivated by their numerous failures ~
how come? I know that when time is dedicated to a task or project, perfection,
and mastery is supposed to set in. But, I still wonder why this is scarcely so
for me, especially after a major accomplishment or success.
#2. Money.
I do not hate money but, I
love finding it, securing it, but not bartering for it. For every entrepreneur,
Money is a huge factor for startup. Despite there are lots of crowdfunding
opportunities all over the world, money is still a major startup challenge for
many. Currently, some are trying to get a loan, others are hoping for
partnerships, and many others need angel investors. In any case, money is, and
will always be a challenge common to all entrepreneurs. For me, it's been a
journey.
#3. Hardly any employees.
You cannot be a one-man team.
Well, I have not gotten the antidote to set up teams and keep them like Mark
Zuckerberg or Elon Musk hence; I prefer to start the business, give it good
life and health, and sell off. This model is viable but, is limited if one must
grow to become a brand like Tesla, Google, Apple, and Microsoft. Also, being a
one-man team puts a lot of pressure on your time and health ~ you can hardly
put off your phone, mostly checking and replying emails, tracking books and
journals, and almost everything else. Don't you think these are taking a toll?
I only have a life I'd love to live very well.
Just in case, do I sound
ungrateful? I do not want to, and I know I am not. I am being realistic and
would like to learn how others have practically come out of this. I am mostly
excited to start new things but, seem to be fading slowly with each level of
success. Someone told me its easier for startups with high drive, workable
business plans, serious collateral, and promising outcomes.
Just thoughts I guess, what
are your thoughts? What are the three challenges of entrepreneurs?
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