There comes a point in our lives when we are brimming with ideas and a job is just not enough! After all we are humans and we are never satisfied with whatever we get!
The youth today is far more empowered than it used to be. As more and more people around the world has started understanding the significance of doing things their way, the start-up industry has as a result become a brand.
Although many have these aspirations in their hearts very few can take action on them and turn their dreams into a reality. People have their own reasons for not taking the big leap, which indeed are quite genuine, to say the least.
Well, let’s face it, it’s not easy. Having your own business requires that you sit and make many decisions and take many risks which would impact your business in the long run.
Challenges and Corresponding Tips for New Entrepreneurs
Lack of Funds
If you are really short on funds, it might not be a really good idea to take the big leap straight away. It would be wise to wait and find an amount of stability before you take the risk with all your money especially if you have dependents or a family because, remember, it is not ethical to sabotage their well being for the sake of your dream.
However, if you do manage to get some money, try investing in patenting the idea and getting it reserved under a domain name. That way, you can start your business even later remaining absolutely sure that nobody else can steal your dreams.
After all, marketplaces are a first to come first serve and thus you would not want someone to run away with your dreams and your ideas and build their business.
Someone close to me won’t let you
The sole justification on your part that someone else is dictating terms for you just goes on to prove that well maybe you are not really ready to be in the big league! Remember, having your own business means having the strength to take multiple decisions at the same time and when you cannot make decisions about your own life, then it is better that you deter from the idea of having your own business.
The business world is meant for those who can work at any time and with the same dedication and energy! Also it requires that you put in a lot of money behind your dreams which in turn would not allow you to find time in dealing with many of your own personal problems as well as issues. Thus, only if you are strong enough to survive through this battle, go ahead, after all it’s the survival of the fittest as said by Charles Darwin in his Origin of Species.
Don’t really have a new idea
This is a little tricky! A start-up in most cases is a brainchild of an idea by someone, in other words, it is an innovative solution to a crisis that may have occurred.
For example, someone may have invented a garbage bag because that was needed or someone wanted things to remain secure which in turn led them to inventing a zip, and so on and so forth.
But what if you want to start your business but you are getting deterred due to not having the PERFECT idea! In that case, you need to spend time brainstorming.
Start researching meticulously and zero in on where you would like to set up your business so that you can understand the trending demands of the area and make the necessary supply. For example, if you live somewhere where all people need is bananas and they do not have too many shops for that, you should open a banana shop, maybe!
Want to Start but Don’t Know Technology
This is probably the biggest problems faced by a new entrepreneur but calm down, you actually don’t need to really know anything about technology if you are looking to start an app-based or an online business!
Today, there are many web-based solutions readily available in the market which makes it all the more easy for you, take for instance, certain mobile apps like Uber which are trending in the market at the moment.
All that these apps require you to do is make a one -time investment and then the rest of the work would be taken care of by the app itself. As soon as you buy the app, you become its sole admin and the independent drivers can register on the app and offer their services. Thus, every time someone uses your app, you as the admin earn a commission.
This is a very simple and effective solution for starting a business as the apps are already set up and all you need to do is launch them in order to start your business.
These apps basically just require for you to make a onetime investment and the app does the rest of the work by itself. Once you buy the app, you become the admin of the application and independent drivers can register on to the app and then offer their services. Every time someone uses the app the admin will make a commission on it.
In conclusion for starting a business
Starting a business from scratch is a big deal but today’s youth knows how to make their dreams a reality thanks to their enormous zeal, passion and courage!
So, if you are an entrepreneur keen on being a titan in the race, this is the right time for you. Be your own boss and keep pursuing your dreams along the way!