MODERN Entrepreneur - Overcome These 6 ObstaclesPosted by Mckenzie Fernandez on May 27th, 2021 Entrepreneurship has been growing in popularity around the world. The benefits in my opinion far outweigh the cons so I've written this article to overview my personal opinions hoping of helping others. Procrastination is probably the number 1 defeating tendency that cripples many would be entrepreneurs before their journey ever even begins. I've created my own top Six List to greatly help others overcome so 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 a person judges a business owner on a superficial level. They dont necessarily recognize the hard work and perseverance a person may have been through on their journey to success. Whenever we recognize an effective business lets work with a restaurant for a hypothetical we immediately have a tendency to think of the obvious. We may simplify it believing if we had a good chef, great food plus a busy location presto instant success. This is looking at the potential opportunity at its most elementary level as an entrepreneur you must learn to dig deeper in to the mechanics of the operation to determine what actually helps it be 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 to begin with. Negotiating a lease on the commercial space required in addition to the kitchen equipment. Setting up payroll, employee benefits and more are just a number of the mechanics that make the business you're seeing successful. By understanding what must be done and what's happening behind the scenes is what sets entrepreneurs apart. Obstacle Two: Entrepreneurship is Hard. The term contradictive could be running through you mind nearly now but i want to explain and define what it really is I'm conveying here. Entrepreneurism is similar to architecture and it does require a valiant effort and the proper building blocks to really achieve great success. Writing and following a properly structured business plan will undoubtedly be worth its weight in gold. Remember failing woefully to plan is likely to fail so a business plan shouldn't be overlooked or ignored. Achieving success boils down to executing a well-planned plan. Taking predetermined steps that will guide you through the tough times and allow one to thoroughly enjoy memories. Many will immediately dive in to the exciting aspects of starting a small business then become intimidated with all that's required on the backend. The reality is that it's only as difficult as you decide to make it. There have been countless successful entrepreneurs and when you have a willingness to understand and follow the correct steps you can easily find yourself among there ranks. Obstacle Three: Most New Businesses Fail A lot of the stats will indicate an enormous amount of home based business start ups will ultimately fail within the initial 5 years. True Entrepreneurs usually do not focus on such negativity should they did just how many new businesses would even bother making the attempt. If you're among those fortunate enough to possess children would you ever inform them not to bother trying since they will only fail. Needless to say not so dont let yourself be shackled by exactly the same short sighted limiting beliefs. Your success and your failures will all be considered a learning experience building on your own confidence to ultimately succeed. You success will not be predetermined by some ordinary statistic that's been a common household quote regarding new businesses for decades. Always remember that more info of people succeeding will always be less that the volume of individuals failing. Negativity travels 4 times faster than that of positivity so bad news seemingly is always recalled first and subsequently becomes an obstacle you need to mentally overcome to succeed. Your only focus should be on positioning yourself within the 1% of entrepreneurs who become successful and forget about the other 99% put simply only focus on your most popular outcome. Obstacle Four: THE CHANCE is High. The word risk has many different meanings and will be interpreted very differently from person to person. For example starting your personal business is not going to kill you but just how many of you even think twice about jumping in your vehicle when driving is actually far more risky if we were to sit back and label it. We as entrepreneurs can not eliminate risk it comes with the territory but we do our best to minimize it through proper research and development and following a business plan with the best chances of achieving the success we desire. Risk if often times mistaken as concern with the unknown. When you learn how to accomplish something you dont see much risk in it however when you do not know it seems much too risky and may prevent you from even trying. The most effective way to reduce risk is through knowledge. The more you learn and understand the less risk you in turn feel because your confidence in your ability to accomplish the task increases. This doesn't have to all reside on your shoulders, sometimes the best way forward is to mirror what of someone else who has recently achieved what you want. Get in touch with successful entrepreneurs and make an effort to better understand the steps they took and how they managed to get from point "A" to point "B" it's rather a very enlightening experience. Obstacle Five: I Need HUGE AMOUNTS of Capital to Make it Work. This statement again is not wrong if you have been considering a traditional brick and mortar business model that requires a facility, staffing, inventory, warehousing, renovations, payroll etc. Nevertheless the game changer for most fledgling entrepreneurs has been the internet and its ability to obtain global reach and recognition on minimal budgets through the elimination of these traditional costs. The brand new age entrepreneur recognizes the potential of the new medium and can leverage it to huge profits that any brick and motor business would like to realize within their bottom lines. By eliminating all of the main start up costs a new age entrepreneur can begin cultivating their ideas almost immediately. The web has over 2 billion users interacting with it in order a potential marketplace its power is undeniable. Obstacle Six: Entrepreneur's Are Born Not Made. This can be a statement that holds many people back and is extremely self defeating though it could not be further from the truth. We can create any number of excuses for ourselves and blame others successes on things such as being born right into a rich family, inheriting the family business or that success simply runs in their blood. No one is born an entrepreneur and the skills that ultimately become successful can all be learned and duplicated by anyone willing to put fourth enough effort. Sure it's easier in the event that you fall into the family business or result from wealth and I don't deny it's questionable if the individuals that do would even achieve success to begin with in not for these situations. The argument may be made that these individuals were in a position to mimic and learn entrepreneurship skills starting from an extremely young age instilling the belief that they could in fact do it to. Believing you can in the first place is absolutely essential if you're ever going to be truly successful within any facet of your life. The lesson here's to stop focusing on what you don't have and start concentrating on what you're able to learn and to nourish the belief system within yourself that you could indeed accomplish anything in life you set your mind to. Conclusion To become an entrepreneur and achieve the success you desire in life is not an insurmountable goal and will be achieved by following a solid plan and obtaining quality advice from other people who have walked the same path before you. Stop letting lack of funds prevent you from dipping your toes in the entrepreneurship pool. Believe me you don't want to look back in twenty years and regret the fact that you won't ever even tried, I honestly believe that is clearly a fate worse than failure at the very least in my humble opinion.Like it? Share it! More by this author |