The 7 New Challenges of Aspiring Entrepreneurs

Being an entrepreneur is the newest worldwide dream job. Most of us would rather work than watch free movies on the sofa day in day out. With many entrepreneurs taking their business off the ground by themselves, using social media and internet presence to sell their products worldwide, being an entrepreneur seems to be the best thing you can do with your life.

Only, it’s not that easy. Before you embark on that particular journey, you need to know what kind of problems you will face. That way, you can prepare for them, or you can decide to avoid the whole thing altogether.

Entrepreneurship is a new, vast field

You can be an entrepreneur from your own home. All you need is a decent office, and not even that if your business is fully online with minimum need of physical archiving (although, archiving is advisable for many reasons).

But the biggest problem is the fact that entrepreneurship is still a new, vast field. And a new entrepreneur who specializes in women’s clothing might have made it, but it doesn’t mean that you can also do the same thing. Being an entrepreneur means being an innovator – you’ve had a new, original idea that no one had before you, and you can build the niche around it. And how can you build it if not by following someone else’s successful footsteps?

But therein lies the problem: what one entrepreneur did, you will need to do better. Not only do you need an original idea for a physical or digital product, you need to know how to take it off the ground. And you need to do it all by yourself. Which leads us to the second problem.

Managing finances is not for everyone

You have your product idea, you have the means to share it, but how do you handle the budget?

Some entrepreneurs hire bookkeepers, others get BAS Agent Brisbane to aid them, and some decide to do it by themselves. However, managing your personal finances and budget is one thing, managing the budget of a business – especially of a start-up business that you need to take off the ground – is completely different. That’s the reason why bookkeepers and BAS agents spend years in school. Can you do it? Yes. But, you will need to learn how to do it first, and you will need to spend hours on it as well. It’s the reason why modern entrepreneurs may seem like they’re leading these exotic lives with exotic travels and lifestyles, however, not everything is what it seems on the surface.

Being your own boss is not that easy

looking out of the window as a boss

When you’re an entrepreneur, you’re your own boss. Which means not only do you do the hard work of an employee, you’re also the boss. There will be no one to tell you if you’re doing something wrong – you will need to figure that one out for yourself. There will be no boss giving you days off – you will need to make that decision on your own.

And it’s very difficult. Self-discipline is a must when you’re an entrepreneur. You will need determination and a strong drive to do what needs to be done. And if you’re unable to impose the rules upon your own self – your business might never flourish.

It can be a lonely profession

Once you get it off the ground, you will be able to outsource many of the necessary tasks. However, at the beginning, unless you’re in partnership with someone else, you will work alone.

And many people disregard the social life provided by our daily jobs. After work drinks lead to new acquaintances, for example. Your employer sent you on a work-related conference to Switzerland? Now you have international friends.

But when you work alone, you need business contacts. And business networking is vastly different than private friends. In business networking, every word that you say is important and leads to new and better things, so you always must have that in mind with each interaction. And after a while, it will feel as if every conversation you have is business related. Which leads us to the next problem: the job doesn’t really end.

The job never fully ends

Even when you are not in your office, when you’re not actively working, you will be thinking about the next task. You will be thinking about your next goal. You will think about the things that are going according to plan, you will be thinking about the things that are not going as well as they should be.

This means that even if you don’t work over the weekend, you will plan. There will be weeks when you will not be able to take a day of pure rest where your mind will not be actively thinking about your business. And that can take its toll on anyone.

When you have a 9 to 5 job, it doesn’t mean that it will be easy. But it ends (or should end) once you leave the office. You get weekends off, or days off, and you get to go on vacations where you can spend time with family or friends without thinking about your job.

When you’re an entrepreneur, these moments of peace can be very rare.

Changes of the internet

Let’s assume that you have a product, a useful product, or a product idea, that you want to take off the ground. You not only depend on social media presence; you also depend on your overall internet presence. You depend on potential clients being able to find your product.

That means SEO optimization of your content, it means keeping track of all the changes in internet marketing, and it means being constantly ready to adapt to new rules of engagement. And that’s not always easy, and it can be very stressful. Moreover, even if you make changes to your strategy, it doesn’t mean they’re going to work. As a result, you will always have to adapt, and adapt your product, and your content to achieve the desired result.

In conclusion, to be an entrepreneur is to always chase the next best thing in many fields. Your product will need to be changed for the better. You will need to be creative and innovative, and be constantly on top of all developments in order to be successful. Yes, all of us know of the modern entrepreneurs, of the digital nomads who get to travel the world and run their business with a laptop and an internet connection, however, you must understand that these are the exception, not the norm.

So, be prepared to face many challenged when you decide to quit your job to become an entrepreneur.

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