13 PROBLEMS MOST ENTREPRENEURS FACE

The road to success is never smooth, and when I say success, I'm not limiting it to only wealth, but also all endeavors of life. Today I'll be revealing to you everything you will expect on your journey to financial freedom. Even if you're not an entrepreneur, you will find part of this article quite relatable. 

1. SELF DOUBT 

I'll start with this because this is actually the first villain to attack. You could have a great idea for a business that could change things in the world but self doubt will render you nothing but a day dreamer. If you plan on starting a business, and you begin to ask yourself 'this idea is dumb as f*** , will it work?' 'what if people don't buy my product?', 'what if I fail?', and a lot other similar questions, then that is the spirit of self doubt. 

You want to know how to over come self doubt? 

First step is saying to yourself 'I can do it'. It be surprised you to know that the words of you mouth could do a lot. I will not talk on this in this article, I recommend you read my article on POWER OF YOUR SUBCONSCIOUS MIND. This article will open your eyes to the mysteries of you subconscious mind and how you could use it to either destroy you, or help you. 

Secondly, take the first step. There is no right time to doing something, if you're waiting for the right time, then you will end up not doing it at all. This is a problem we has a team faces but we are thankful we took our first step.

2. LACK OF RESOURCES

This is applicable to so many other instances in life. You could be passionate about let's say soccer, and you are ready to train as hard as possible to achieve your goal, but you'll discover you don't have the training equipment professional footballers use, and then you get discouraged. 

In this case, leverage on this disadvantage and be creative. If you lack resources for your business, then find and alternative means by apply your sense of creativity and see how things will go.

3. LACK OF SUPPORT AROUND YOU.

Once you start a business, everyone around you will definitely give you words of encouragement, because it is a nice thing to say, but once you start facing challenges in your business, they all go away. This people could likely be your friends or even your family.

An entrepreneur once said "Your greatest enemy in life is you family". I must say, in most cases I agree to this. The love your family, most especially your parents have for you is so overwhelming, they don't allow you take certain risks you should take to achieve something. 

How do you overcome this problem? Well you can't, you just have to face it and do things yourself.

4. TECHNICAL KNOW-HOW 

This is simply lack of skills. You might want to start  an E-commerce store but you don't have a single clue on how it works, or maybe you want to open a bread factory but you know nothing about baking bread. Yes this has happened to lots of entrepreneurs.

We live in an age called 'The information age', were information is so much and is completely free. What ever information you need could be found on the internet. You want to learn how to code? It's on the internet, you want to learn how to sew cloths, it's on the internet, you want to learn how to do sports, it's right there on the internet. So what so ever skill our business requires, you could find it on the internet. I'm thankful to platforms like YouTube and Udemy, they have really helped.

Another way to solve this problem is by having a team. We'll talk about this later in the article.

5. ABILITY TO MULTITASK

The hustle is never easy. Starting a business all by yourself isn't easy at all. You will be the manufacturer, distributor, salesman, manager, social media manager and lots more. This isn't a new thing, as an entrepreneur, learning how to multi tasking will do you a world of good, before you can start thinking of having employees.

6. INDUSTRIAL CHANGES/GOVERNMENT POLICIES

When it comes to industrial changes, for more understanding, I'll site an example. Lets say you're a YouTuber, and you monetized your channel and was making good money from AdSense, then you wake up to find out your channel has been demonetized, what are you going to do? Especially if that was your only stream of income. This is applicable to all other businesses. Let's say you use to supply donut in your school and you made some money from it, then suddenly the school management asks you to stop sell doughnuts anymore. That's a problem. 

On the other hand, government policies. I know lots of banks which have closed down because of government policies. Some months ago, Bitcoin was banned in Nigeria. The companies who suffered the most were companies that dealt mainly with Bitcoin, and that was a channel for them.

7. FINDING THE RIGHT TEAM

This is one of the most difficult part of entrepreneurship. There is a wise saying that goes "two heads are better than one". Having a team is really helpful. It speeds up the progress of your business, but finding this people in more difficult than you think it is. Finding people who reason like you isn't easy at all.

Not everyone thinks like you, not everyone would have the passion and drive you have for your business, and not everyone can read your mind. When choosing a team, make sure they have the same passion and driver as you do. JIMO would have gone this far without the right team.

8. FINDING CUSTOMERS.

Most people tend to believe that once you start a business, customers will miraculously come from nowhere. Well that could happy if you're running the only restaurant in town, or maybe you're the only shoe vendor in the city.

As an Entrepreneur, you need to learn to convince people buy your product or service. People won't pay for your product or service if they see no value in it so your job is to be able to convince them. 

9. COMPETITION

What ever business you come up with, be ready to compete with others, else your business will crash. 2go was a very popular social media some years back, everyone I knew was on 2go, in fact that time if you were not on 2go, then you lived the 80s. The business was going well but then WhatsApp came about and put 2go completely out of business, because. They'll be a point in your business when another person or company doing the same thing you do will unexpectedly puts you out of business. At this point, you need to stay in business, so you try making innovations in your business compete with the rest too.

10. LONELINESS

A good number of you were not expecting this but it actually made the list. I've noticed one thing about entrepreneurs, they think way beyond the way an average person thinks. An entrepreneur thinking very differently and a times it's difficult for people to socialize with them. The issue of loneliness is no joke, people actually die out of loneliness.

Sometimes this loneliness may come as a result of failure I'm your business. Remember when I said people will run away when you have crises in your business, and once someone you trusted leaves you when you needed them most. It could really hurt, and leads us to the next one.

11. FAILURE

Failure is inevitable in business. You must fail in order to learn. It could be quite hurtful and discouraging but it doesn't matter, you could still bounce back. Robert Kiyosaki once said "...you either win or you learn".

12. DEALING WITH SUCCESS

After all the struggles, you finally become that millionaire or billionaire you've always wanted to be, now handling the wealth is another problem. When this time comes, everyone wants your money. People will due you to court, if you're a guy, girls will come after you all because of your money. So protecting your money is also a problem and I know with time it'll be fine.

There you have it!

 Here is a question for you:

A good number of you were not expecting this 

What challenge are you currently facing now?

Please leave a comment and share to your friends.

Do not forget to drop your email address so that you can be the first to view our articles once we drop them. Simple tap the home button and then tap the menu button at the top left hand corner, you will see the space for your email address, input it and send it to us. Thank you.😊

JIMO