Entrepreneurship has been growing in popularity the world over. The benefits in my opinion far outweigh the cons so I’ve written this article to overview my personal opinions in hopes of helping others. Procrastination is probably the number one defeating tendency that cripples many would be entrepreneurs before their journey ever even begins.
I’ve created my own top Six List to help others overcome what can hinder success as a budding entrepreneur.
Entrepreneurship Obstacle One: It’s Easy.
Its human nature to make assumptions and it’s no different when an individual judges an entrepreneur on a superficial level. They dont necessarily recognize the hard work and perseverance that a person may have gone through on their journey to success. When we recognize a successful business lets use a restaurant for a hypothetical we immediately tend to think of the obvious. We may simplify it believing if we had a good chef, great food along with a busy location presto instant success.
This is looking at the potential opportunity at its most basic level as an entrepreneur you must learn to dig deeper into the mechanics of the operation to determine what actually makes it tick. A great example in staying with the same hypothetical would be to consider the HR skills to acquire great people, followed by the training requirements needed than onto marketing and learning how to get people through the front door in the first place.
Negotiating a lease on the commercial space required in addition to the kitchen equipment. Setting up payroll, employee benefits and more are just some of the mechanics that make the business you’re seeing successful. By understanding what it takes and what’s happening behind the scenes is what sets entrepreneurs apart.
Obstacle Two: Entrepreneurship is Hard.
The term contradictive may be running through you mind just about now but let me explain and define what it is I’m conveying here. Entrepreneurism is like architecture and it does require a valiant effort and the right building blocks to really achieve great success. Writing and following a properly structured business plan will be worth its weight in gold. Remember failing to plan is planning to fail so a business plan should never be overlooked or ignored.
Achieving success comes down to executing a well thought out plan. Taking predetermined steps that will guide you through the tough times and allow you to thoroughly enjoy good times. Many will immediately dive into the exciting aspects of starting a business then become intimidated with all that’s required on the backend.
The reality is that it’s only as difficult as you choose to make it. There have been countless successful entrepreneurs and if you have a willingness to learn and follow the proper steps you can easily find yourself among there ranks.
Obstacle Three: Most New Businesses Fail
Most of the stats will indicate that an enormous amount of new business start ups will ultimately fail within the first 5 years. True Entrepreneurs do not focus on such negativity …