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Business Challenges and Solutions for the New Age Entrepreneur

author-img By Arina Smith 5 Mins Read April 11, 2019

Business Challenges

Entrepreneurs face an immense number of challenges when they set on their journey to achieve something. Apart from almost everyone trying to demotivate them, they have to face many business challenges too. Like finding the right Internet service for the company. While the solution to this problem is AT&T plans or the like, the challenges are not limited to this alone. The new age entrepreneur has to keep in mind the immense amount of competition that exists. And has to struggle hard to break through the clutter.

Here are some prominent challenges that entrepreneurs face with solutions:

1. Time Management

This is one of the biggest challenges that entrepreneurs often face. There is so much going around in the lives of people these days. Entrepreneurs are not an exception to the rule. But they have to learn how to manage time. Because failing to do so can create troubles for them. Entrepreneurs have a limited time to complete many tasks.

Under such circumstances, all they can do is plan smartly. They will have to be very wise when they allocate time to different tasks. This allocation should be according to the importance and complexity of the task. For this, entrepreneurs should be good at predicting the future. They should also have a thorough knowledge about what they are doing. Only then will they be able to allow the time accordingly. If they wish they can make a list of all the tasks and then proceed.

2. Gathering Capital

This can be very challenging. If you do not have enough resources but your idea is unique, you will still need funding to bring it to life. However, not always will you find investors. Because they too are reluctant to invest in new ideas unless they are very sure about it. And rightfully so. Their money is at stake. But an entrepreneur cannot give life to his idea without capital. So, he will have to adopt alternative ways to do so.

One way is to resort to the government-operated banks. They are more willing to invest in an idea that private investors. In fact, there are government banks that are specifically designed to help entrepreneurs. All you have to do is pitch your UNIQUE idea to them. If they approve of it or see the potential, they will provide you with the capital. Apart from this, there are some NGOs as well that extend help towards the entrepreneurs.

3. Hiring Employees

What good is a company or a business without employees? While people are always willing to work. The job has to be reasonable as well to earn them money. The job should also offer them security. As hard as it is for people to trust a new venture, entrepreneurs find it hard to look for employees too. They have to go through a gazillion resumes picking the right people.

The solution to this challenge is that an entrepreneur should be exclusive. Y7ou will save yourself a lot of time and effort by posting the exclusive help wanted ads. Pre-qualify the candidates and save yourself the hassle to go through tons of resumes.

4. Delegating Tasks

You know that there is a need for you to delegate or outsource tasks. However, you are also aware that every time you do so, one thing or the other gets messed up. And you want to save yourself from all this.

The solution to this challenge lies in you finding yourself the right employees. Spend some time in the screening process. Because these employees will be your future assets who will perform tasks for you. If you do not hire capable enough employees, you will suffer. You might have to pay a little more when you hire employees with a significant amount of experience, but it will be worth the investment.

5. Marketing Strategy

Your marketing strategy can either attract the people towards your products or shoo them away. You have to put in a lot of thought when it comes to the marketing strategy. Apart from being unique, your marketing strategy should be direct. It should speak volumes about what your product is. What is it that you are trying to deliver.

The solution to this challenge is to outsource and hire a good marketing agency to do the job for you. Because your marketing campaign will stay with you for long. It will drive the people towards you if it is done right. So you cannot afford to get this wrong.

6. Self-doubt

Entrepreneurs often find themselves doubting their goals and aims. This is quite natural. Because they are about to experiment with something no one has before. But this does not mean that self-doubt is a positive trait. You have to stop yourself from doubting your plans.

A solution to this is to make a list and work on your goals and tasks on a daily basis. Keep encouraging and motivating yourself to do better. You yourself have to be your own strength. No one will do it for you.

In case you lack the will to proceed, try calling AT&T Customer service number (1-855-850-5973). You will feel good after conversing with a rep. Because the way they greet you is very positive. While the number is not meant for you to call at any time, you can try speaking your heart out to a sweet rep. And he will speak a couple of words of motivation that can keep you strong for a day or two.

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Arina Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at OnlineNewsBuzz.

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