Obstacles of an Entrepreneur

An entrepreneur is a person who begins a business based on their passion. They don’t think of it it as work – they find it fun, creative and invigorating. An entrepreneur (including an online entrepreneur) also accepts all the risks and responsibilities of any new business and will have challenges and obstacles that must be overcome to create a successful business.

Top 5 Obstacles of an Entrepreneur:

Planning:
Often times an entrepreneur is so excited about their endeavor they do not take the time to plan. This is especially true of the online entrepreneur and is a huge obstacle to the success of the business. There are many sites and people out there that want to sell you the dream “Build it and they will come”. This may have been true in the beginning stages of the internet – but those days are long gone.

To overcome this obstacle the entrepreneur needs to take the time to sit down and write a clear and concise plan. This includes how to attract qualified customers to your site or business, how to keep your customers happy and satisfied, how to market, the amount of time money you will allocate to marketing and research, and income goals for each of the next 12 months and then yearly for the next 5 years.

Lack of Support:
The entrepreneur can feel like they are all alone out there, facing challenges and obstacles that are totally new to them. Your family and friends may offer their loving support, but unless they are an entrepreneur themselves, they probably do not know how to grow your business any more than you do.

It’s important to know how other business owners have faced these challenges and how they have overcame them. It’s good to be able to toss ideas and solutions around with like-minded people, to come up with creative solutions to the obstacles all entrepreneurs’ face. To find these individuals you can join a local business organization in your community or online forums. Another option is to invest in a business coach.

Details, Details, Details:
New entrepreneurs can often feel overwhelmed by everything they need to learn to begin and grow a successful business. You may even ask yourself “What have I gotten myself into?” You can feel as if there is just so much to do and to learn that there isn’t enough time.

Take a minute to take some deep breaths and relax. Don’t spend every waking minute on your business. You need to set aside time for breaks and time for fun. When you step away from something for 15 minutes and come back to it normally doesn’t seem as daunting. When you spend a fun day with your family, watching sports, going to the lake, going to the beach or simply playing games, you are giving your mind a time to relax and rejuvenate as well as allowing the creative mind to come up with the solutions you are seeking.

You don’t need to know everything right this minute. You also do not need to do everything yourself. You can hire an assistant, a phone answering service, writers, researchers or whatever other type of expertise you are seeking. Henry Ford attributed his success to the fact that he surrounded himself with men that had the knowledge he was seeking. To quote Ford “Why should I clutter my mind with general information when I have men around me who can supply any knowledge I need?”

Creating a Job:
Entrepreneur’s often make the mistake of creating another job for themselves. If you are seeking the freedom in life to do what you want, when you want, then it’s important not to fall into this trap. Many business owners create their business around them being there at all times. They work long hours and add undue stress to their life, as they are in it for profit rather than creating a business they are passionate about. Their personal life often becomes lonely because they leave no time to tend to it. Think of Ebenezer Scrooge. He forgot about all that was good in life, and focused on money, which does not bring happiness in of itself.
To remedy this obstacle, it’s important to have a clear vision and plan of what you want out of life. Outsource and automate as much as your business as you can. Learn how to do more in less time. Make the time for yourself and your family. Nurture all that is good. Have fun with your business. Make your goal to have a happy, productive life with the ability to make another persons life better.

Yourself:
Most entrepreneurs will tell you that the biggest obstacle to their success is themselves. It’s time to GET OUT OF YOUR OWN WAY. You may have an inner battle going on in your head that fuel your fears. You might start thinking “this is too big for me”, “I can never learn that”, “I’m not as good as other people”, “I’m not smart enough” or “I’m not qualified enough”. All of these thoughts are just excuses that have popped up in your mind to keep you from acting. They are all self-limiting beliefs.

Keep yourself surrounded by inspirational people and motivational quotes. Remember that you can accomplish anything that you are capable of thinking. You created your business in your mind, therefore you have all the skills and qualifications needed to create that business. Be persistent. Keep taking action with the end result in mind and you will succeed. In time all of those voices will disappear.