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 in hopes of helping others. Procrastination is just about the number one defeating tendency that cripples many would be entrepreneurs before their journey ever even begins. I've created my very own top Six List to help others overcome so what can hinder success as a budding entrepreneur. website : It's Easy. Its human nature to make assumptions and it's no different when an individual judges a business owner on a superficial level. They dont necessarily recognize the effort and perseverance a person may have gone through on the journey to success. Whenever we recognize a successful business lets work with a restaurant for a hypothetical we immediately tend to think of the obvious. We might simplify it believing if we had a good chef, great food along with a busy location presto instant success. This is considering the potential opportunity at its most elementary level as an entrepreneur you need to learn to dig deeper into the mechanics of the operation to determine what actually helps it be tick. A great example in staying with exactly the same hypothetical would be to consider the HR skills to obtain great people, followed by working out 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. Establishing payroll, employee benefits and more are just some 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 let me explain and define what it is I'm conveying here. Entrepreneurism is similar to architecture and it does need a valiant effort and the proper building blocks to really achieve great success. Writing and carrying out a properly structured business plan will be worth its weight in gold. Remember failing to plan is planning to fail so a small business plan should never be overlooked or ignored. Achieving success boils down to executing a well-planned plan. Taking predetermined steps that will guide you through the a down economy and allow you to thoroughly enjoy good times. 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 is only as difficult as you decide 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 end up among there ranks. Obstacle Three: Most New Businesses Fail Almost all of the stats will indicate that an enormous amount of new business start ups will ultimately fail within the first 5 years. True Entrepreneurs usually do not focus on such negativity should they did how many new businesses would even bother making the attempt. If you're among those fortunate enough to possess children would you ever tell them not to bother trying since they will only fail. Needless to say not dont let yourself be shackled by the same short sighted limiting beliefs. Your success as well as 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 run of the mill statistic that's been a standard household quote regarding new businesses for decades. Always remember that the number of people succeeding will be less that the volume of people failing. Negativity travels 4 times faster than that of positivity so bad news seemingly is always recalled first and in turn becomes an obstacle you must mentally overcome to succeed. Your only focus ought to be on positioning yourself within the 1% of entrepreneurs who become successful and overlook the other 99% basically only focus on your most desired outcome. Obstacle Four: THE CHANCE is High. The word risk has a variety of meanings and you will be interpreted very differently from individual to individual. For example starting your own business is not going to kill you but just how many of you even think about jumping in your vehicle when driving is actually a lot more risky if we were to sit down and label it. We as entrepreneurs can not eliminate risk it includes the territory but we do our best to minimize it through proper research and development and carrying out a business plan with the best chances of reaching the success we desire. Risk if quite often mistaken as fear of the unknown. When you learn how to accomplish something you dont see much risk in it however when you have no idea it seems much too risky and will prevent you from even trying. The simplest way to reduce risk is through knowledge. The more you learn and understand the less risk you subsequently feel because your confidence in your capability to accomplish the task increases. This doesn't have to all reside on your own 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 try to better understand the steps they took and how they got from point "A" to point "B" it can be a very enlightening experience. Obstacle Five: I Need HUGE AMOUNTS of Capital to create it Work. This statement again isn't wrong if you've been considering a traditional brick and mortar business model that requires a facility, staffing, inventory, warehousing, renovations, payroll etc. However the game changer for most fledgling entrepreneurs has been the internet and its ability to obtain global reach and recognition on minimal budgets by eliminating these traditional costs. The brand new age entrepreneur recognizes the potential of the new medium and may leverage it to huge profits that any brick and motor business would like to realize in their bottom lines. By eliminating all the main start up costs a fresh age entrepreneur will start cultivating her or his ideas almost immediately. The internet has over 2 billion users getting together with it in order a potential marketplace its power is undeniable. Obstacle Six: Entrepreneur's Are Born Not Made. This is a statement that holds lots of people back and is extremely self defeating even though it could not be further from the reality. We can create a variety of excuses for ourselves and blame others successes on things such as being born right into a rich family, inheriting the household business or that success simply runs within their blood. No one is born an entrepreneur and the skills that ultimately achieve success 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 people that do would even be successful to begin with in not for these circumstances. The argument could also be made that these individuals were in a position to mimic and learn entrepreneurship skills starting from a very young age instilling the fact that they could in fact take action to. Believing you can in the first place is absolutely essential if you are ever likely to be truly successful within any aspect of your life. The lesson here's to stop focusing on everything you don't have and start focusing on what you can learn also to nourish the belief system within yourself that you may indeed accomplish anything in life you set your brain to. Conclusion To become a business owner and achieve the success you wish in life is not an insurmountable goal and can be achieved by following a solid plan and obtaining quality advice from others who have walked the same path before you. Stop letting insufficient funds prevent you from dipping your toes in the entrepreneurship pool. Trust me you don't want to look back in 20 years and regret the truth 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 |