Struggles of an entrepreneur
“Be your own boss” the buzz phrase among most millennials. If only it was easy as it sounds. This journey of being a boss is full of struggles accompanied with a learning for lifetime. Every entrepreneur however different they are have similar challenges but it is the way they handle the same that makes all the difference. The first and the biggest challenge for any entrepreneur are the investors, the most crucial word for any entrepreneur. The struggle to look for investors and raise funds is real. Find the correct investor, raise the required fund the problems are innumerable and so are the solutions. Search for accelerators, incubators or angel investors may be long and requires patience and patience and persistence. A belief in ones product, good networking skills and a good team make this work a lot more easier. Working with the right people makes things so much more comfortable. Selecting a good and understanding partner is extremely important. For some people, going alone works fine but most need partners and in a such a case it is important that they are on the same page more often than not. The partners may not necessarily be similar to each other but being complementing to each other works wonders for the partners and the firm.
When you start a business, you have more work than you can possibly complete, so prioritizing is incredibly important. And many entrepreneurs think that any time they spend not generating revenue is a waste, but if you don’t set aside some time to properly set up your infrastructure, you’ll later find yourself forced to deal with these issues, and by then it will be such a mess that it will take you exponentially more time to straighten it all out. Finances, project management, online storage organization, processes, insurance, corporate structure, etc. These are all things that must be done well in order to succeed. Another constant challenge is of convincing would be customers that they should buy from you, before you can responsibly sign a contract with the supplier. And the supplier won’t typically agree to work with you, until they are confident that you have customers.
Starting a business that one is passionate about one will have the opportunity to solve problems or add value to the world through their business. It would give you plenty of opportunities to bring about the change that you always wanted but couldn’t. Having a learning and attitude and passion towards work are the most important factors of success. Immersing yourself in learning opportunities and keeping an eye out for something that excites you- not just for the money- you will be successful.
Even though the struggles are aplenty yet persistence, belief and confidence in ones team, product and self can make this journey of becoming a successful entrepreneur so much more easier and fruitful
