Challenges in Entrepreneurship 2020
Being a first generation Entrepreneur is tough! There are lots of challenges that you face being an Entrepreneur.
In the media we see a lot of Coaches, Institutions, Marketing Gurus talk about “Entrepreneurship” as the in-thing. Though it is an amazing journey to make your dreams come true it is ripe with challenges.
You can read more about “Effective Marketing for Start ups”
Today in our Blog series on “Small Businesses” we would like to cover this off topic on “Challenges in Entrepreneurship”. Here are the Top 3 challenges faced by entrepreneurs.
1. Return v/s Investment:
Entrepreneurs understand that Business is an investment heavy endeavor – be it Time, Money or Emotions we invest everything in our dream of building a Legacy that we can be proud of & pass on to our next generation.
Most of the times in this endeavor we face a dilemma regarding Investment v/s Returns.
Do we invest in Marketing?
What ROI can I get?
Do I skip my best friend’s wedding party so I can attend this client meeting? Will I get the sale though?
Is the time I invest in this training going to take me to the next level?
Is it worth skipping my regular daily chores?
This constant trade off between different choices is the most challenging & also energy draining.
If you are an Entrepreneur you know the feeling of “Loneliness”. Nobody not even your life partner understands what you are going through.
We try to cover it up by attending Conferences or becoming a member in Business Networks but even with all these only an entrepreneur can articulate this feeling which is heightened by slow markets.
We as Entrepreneurs are obsessed with constant movement, we are the most restless souls you will ever see but we never get anybody who can step with us at the pace we want thus we feel alone.
Even the most successful entrepreneurs know in the pit of their stomach that whatever success is achieved may not last forever.
We suffer from the fear of the unknown.
Is our future really secure? Will new customers turn up next month? Will the projects that were promised by clients start as planned?
This fear of the unknown might exist in all roles of life but being an entrepreneur we feel this more than anybody else because we are responsible for our Employees, our Vendors, our Families & we take this responsibility very seriously.
What are some of the challenges that you have faced being an Entrepreneur? Leave us a comment below.