Top ten common challenges entrepreneurs face

  1. Getting the finance for the venture
  2. Top challenge according me. Most of the times, entrepreneur starts with his own money only.
  3. Getting the right team is difficult
  4. He or she does not have large money to pay. It is difficult to attract the right team.
  5. Learning the new skill sets everyday
  6. Getting the products to ship fast
  7. More delay means more cost and more overruns
  8. High degree of uncertainty
  9. Cold response from the customer
  10. The technology that entrepreneur is working upon might fail to excite the customer.
  11. Disadvantage due to smaller size
  12. Lack of established processes
  13. Lack of mature processes means more stoppages and difficulty in creating the finished products.
  14. Need to constantly motivate employees
  15. Highly demanding customer base
  16. Due to smaller nature of operations and smaller customer base, customers of an entrepreneur are more demanding than compared to established businesses.