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