Entrepreneurs are those people who have the idea to figure out the problems. They have great idea, they know how to execute it, and once they decide to start, no one can stop them. While all this is true, challenges faced by entrepreneurs are still common. When entrepreneurs are supposed to be focusing on just the idea, they actually have to handle finances, attract customers, and also manage other business tasks. Some challenges faced by entrepreneurs are:

  • Financial Management: It has been roughly estimated that 80% of entrepreneurs have to fund their own start-up and only 20% get this funding from investors, bank, or family. Further, they already be battling with seed funding and struggling to sustain liquid capital. So, it is difficult for them to manage finances and keep the cash flow steady.
  • Stress Management: Stress and anxiety are obvious when you hold the solo responsibility of making decisions. With every step comes the fear of failure and doing something wrong. Every time you take an off day, go on a vacation or spend time with friends, the guilt of reducing office time is concomitant.
  • Discipline : Even the most talented entrepreneurs fail because of lack of discipline. Having a great idea is one thing, but executing it with discipline is another.
  • Finding Customers: Most start-ups don’t have huge funding, which restricts their marketing efforts. This challenge of entrepreneurship reduces the outreach and hampers the ability to find new customers.
  • Hiring Employees: There is no best way to hire the right employees. You will never know how an employee will turn out before they start working with you.