5 Top Challenges for New Entrepreneurs


I can tell you that starting a business can be both scary and exciting. This is because, at a point in time, a new company can find itself among some challenges. From hiring the able team to making your business grow, from improving the brand’s image to delivering the essential goods or services, startup entrepreneurs need to overcome so many challenges to experience success and stability.

Challenges for New Entrepreneurs

When you were doing an office job as an individual, the organization would award you for your technical competence most of the times, and seldom for your excellent leadership skills only. However, when you are starting your business, there is a great change in responsibilities. Success does not come just from what you know, but from what you do to grow, develop and benefits others.

When you chose to become an entrepreneur yo should develop tactics to cope leadership challenges. Let’s have a look at some most common challenges you will face as you undergo the transition – from an office job to entrepreneurship, and how to overcome them.

1. Communication

Most solutions to leadership challenges are hidden in regular communication and secure relationships with the employees of a company. So try to keep communication always open and clear with team leaders, all the time even if you have already hired the people who believe in you, are equally passionate about your goals, and are ready to put in an extra effort as you are doing. Communication with a strong emphasis on your business vision will bring comfort not only to you and your business team leaders but also in the entire company as a whole.


Moreover, you will get a bonus. As team leaders you serve the front line of your business, they may have an impression on happy clients. This way, your organization becomes trustworthy, which eventually translates into long-term customers.

2. Competition

Competition is the greatest challenges that all the startups face, especially in industries dominated by reputed, established brands. The main thing is to find your business niche market, which is not yet concentrated by other enterprises with the same products. If there is another company offering the similar products, you should start thinking out of the box to get an edge over your competitors. This is essential for building a target audience and convey a particular brand message that differentiates your startup business from other players out there.


3. Keeping the pace with the change

Information around the world is constantly evolving due to the continuous development. Also, more countries and industries are moving online. Not only staying on top but also keeping ahead of the competitors is the challenge for startup companies. With a clear plan to roll a startup out into different markets, you need to approach each country with customized strategies based on the market conditions. Be flexible enough to review and adjust your business philosophy and plan to meet your customers’ needs.

Keeping the pace with the change

4. Leading vs. Managing

Many startup entrepreneurs confuse between leadership and management. Management is about managing workflow, overall budget or time, whereas leadership is about inspiring, sharing a purpose, and giving direction.

When you learn how to share your vision and bring more confidence in your team leaders, they will bring more confidence and security in the teams in return.

Leading vs. Managing

Being perfect in leadership & business is a continuous process that needs patience and also discipline. Start following these methods, and put your foot forward towards overcoming prospective leadership challenges.

5. Delegate.

Trying not to do it all yourself! If it is something you are good at and you love then, by all means, do it! But USE your people. Delegate and ask for proper follow-up reporting. Ultimately you will develop your people to where you delegate something, and they run with it. That is the highest level of delegation and one which you plus your team should strive for daily.


Three Beginner Steps to Building A Business While Working Your Day Job

Business Learning

Jumping off the 9 to 5 job and into your own business is a persistent dream through the mind of many individuals. The reasons for quitting your job and being your boss stack up in your mind like a never ending, but reality tells us there are too many responsibilities in our lives to accomplish this dream. Many successful business owners have started their business while working and kept on working until it was feasible to make the transition from working a day job to running their business full-time.

Creating a Clear Image

For the many people who dream of doing so, don’t manage to make it happen because there is a great challenge to working and building a business at the same time. It is stressful and difficult to do, but it does not have to be impossible. With a few steps to get you started, you can finally leave the 9 to 5 race and join other successful business owners.

STEP #1: Creating a Clear Image of “Why” and Make a Commitment

Many reasons exist for starting a business. Dissatisfaction with your current job, an inability to move up the ladder, or the freedom to pick your schedule are just a few of all the possible reasons. Maybe your reason is something very different than these. Whatever your reason is, you need to create a clear image of exactly why you are starting a business.

The answer to the question of why gives you a clear picture of what motivates and drives you. As the stress and challenges of starting a business come, you want to be able to hold on to this vision, so you do not give up on your dream.

A view of the reason why isn’t enough. You need to make a commitment to the business too. If you walk into the idea with a view of seeing how it goes, you will not be able to maintain the commitment the moment the road gets rough. It could become the self-fulfilling backdoor escape.

STEP #2: Business Vision

Take an evening, weekend, or a week, sit down and write out what you want your business to become. This task is not a plan of activities description, but a picture of your ideal day, where you see your business at in one year or five years, and information about your target clients. Answer the question of how much income you would like your business to produce.

Once you have a clear, detailed business vision, hang it up where you see it and read it every day. This activity will keep your business fresh in your mind, at the front of all your thoughts, and your daily choice will reflect what is best for your business.

Business Vision

STEP #3: Learning

Does your business require any additional skills you might not have? For example, your company might specialize in remodeling bathrooms, but you have never needed to manage accounts. Learning about the names of different accounting documents used, how they apply to your business, and how to create them will fill in a possible weakness when you run your business. Maybe you need to sharpen your advertising skills or learn more about building a brand. Now is the time to do so.

Business Learning

The three steps above are only a jump start to starting a business while you still are working a day job. They may seem like unnecessary steps you could just skip over and get right to the meat of running your business, but it is recommended you start with these simple steps. A lack of persistence, motivation, drive, or vision can bring your business to a complete stop and possible a failure before you even get the primary business. For example, if your expectation is to gain your first client on the first try, you are going to need the persistence to work through and not let it set you back. Once you have finished these steps, you can move on to the specific to-do list tasks to opening your business from state laws, sales tax, business licenses, and a million other details.

UK Students Continuing to Look Overseas


2. Get your vitamin D

The higher the levels of vitamin D in the blood, the lower the risk of developing colorectal, breast and prostate cancers, according to the latest research. The Canadian Cancer Society recommends a daily vitamin D supplementation of 1,000 IU during the fall and winter months with special consideration for adults at risk for having a deficiency. In warmer and brighter months, you can get your vitamin D through sun exposure: a few minutes a day or more, depending on your age, the time of day and your skin colour.