After graduation, most people look for a job. Doing a job is all right because you gain a lot of experience. However, don’t make it a long-term goal. Instead of doing a job, you can make more by becoming an entrepreneur. Therefore, you should always try to become an entrepreneur from the beginning.
However, becoming an entrepreneur will be challenging if you don’t know the hurdles you will face. The renowned entrepreneur Richard James Schueler thinks that anyone can overcome these hurdles and become an entrepreneur. Here are a few hurdles you will be facing at the time of becoming an entrepreneur.
- You will be struggling to gather capital for your business
- You will be struggling to gather the right type of employee for the business
- You will be struggling with marketing your product
Capital
Raising capital for the business is a big hurdle that you will face when you try to become an entrepreneur. You will find only a few people who are willing to invest their money in your idea. At that time, you need to polish your idea and make it acceptable to all. Only then, people will invest in your business.
Your dream of becoming an entrepreneur will never become true unless you are able to sell your business idea to the world. Therefore, you need to develop your business ideas appropriately. After that, you need to contact those people who have trust in you. This way, you can raise initial capital for your business.
After launching your business and proving its viability, you can approach venture capitalists and sell them your business idea. All your capital-related problems will be solved if you are able to convince venture capitalists with your business ideas.
Employee
Although there are thousands of unemployed people are available, finding the right talent for a business always has been a big hurdle for every entrepreneur. When hiring an employee, make sure the person is passionate about the job. Only then, you will get the most out of that person. Along with passion, you also need to see whether the person you are hiring has the right talent or not.
For this reason, you need to work closely with the HR department. Along with other activities, you also need to check the performance of your employees. In the business world, employees are the foundation of any business. Your dream of becoming an entrepreneur will never become successful unless you are able to recruit the right people for the business.
Marketing
Believe it or not, marketing will be the most challenging aspect when you become an entrepreneur. Marketing is not just limited to selling products or doing advertisements. The goal of marketing is to convince customers that your products or services are better than others.
As an entrepreneur, you need to work hard a lot to achieve this objective. Along with advertisement, you also need to connect with your customer base. Always monitor the feedback of customers and constantly improve your products or services. This way, you can create a positive brand image for your business.
Why become an entrepreneur?
Many people believe that they will find freedom from their boss after becoming an entrepreneur. However, this way of thinking about entrepreneurship is completely wrong. After becoming an entrepreneur, you will find that your customers have become your boss. Then, you have to work even more to satisfy your new boss.
It is true indeed that you will earn more money by becoming an entrepreneur; you will find a different level of satisfaction from your work. As an entrepreneur, Richard Schueler had faced all these challenges and overcome them all.
Conclusion
Entrepreneurship is one of the most challenging and rewarding activities a person can engage in. It can also be one of the scariest. Many people shy away from starting their own business because of the fear and uncertainty that comes with it. It is scary because you are taking on a massive personal risk. It is also challenging because you are embarking on something completely new and unchartered territory. The uncertainty is scary because if you fail, you will have to deal with the consequences. You fail when you can’t start a business or can’t sustain it with your initial capital.
