Every Entrepreneur wants to commit to their dreams & visions without any speed breakers . They give full attention, Dedication & Focus on their Startup goals. But at the same time , they have their own rules with regards to working time, working style & controls. The Reality is much different than what is perceived for those who have just taken a leap into Entrepreneurship.
My Startup will have clients soon as i launch it: You won't have clients from Day 1. Even if you are associated to a well known Brand , yea, what's needed is an organized, consistent & well implemented marketing plan in order to have early clients. Creating Brand Awareness & being recognized as one of the market leader is a challenge indeed. It’s always easy to get lost in the crowd of other businesses and brands, so we need to find new ways to keep your Startup / product Brand name in your client's minds. Here comes the power of networking and relationship-building.
Delegate too Early & to too Many : Delegation is necessary & inevitable indeed, but delegation needs to be under a guarantee that your Startup Team members will share the same passion or determination for success that you do. Simply employing a staff to manage day-to-day operations is just a part of your delegation, not a need. If you want to ensure your Startup growth, then you , your self must initially take responsibility until your business is turning a profit, otherwise, you could be throwing money and resources down the drain.
We Need Huge Amount of Funding :
Startup Entrepreneurs have a myth that in order to be successful , lots of funds are required & applied , yea we don't counter this, as some ecosystems may require huge funds right from the inception , but in most of the cases this is possible without funding by having & adhering to a tight budget. Besides Funding what other parameters are important for success are right ideas & their implementation , the skills which you & your Startup Team possess and finally a well chalked out plan work hard and reach your goals within a specified deadline. One needs to be resourceful with the funds they have , say for like one can sort to outsourcing rather than hiring a full time employee, work from a co-working space rather than going for a office with huge rentals . This approach can save you money and allow you to grow at a much faster pace.
I Will Do it at the Right Time : Entrepreneur generally waits to do a particular task at a right time. Now here , when is the right time. Can anyone answer this. No time is right & Every time is right . It is a common thing which we observe these days, where an Entrepreneur waits for the right moment for the expansion of their Startup. But the fact is, markets are becoming increasingly competitive and hard to enter , especially for Startups. Hence if you come across an opportunity , grab it , work on it rather than just waiting for the right moment.
Overseas Market are Tough to Reach : Its a Digital World today, yea entering overseas market may be expensive , considering the currency exchange rates, but then it's not that tough as one thinks. Starting businesses overseas these days is simple than one may think so. Some extra compliances with the country laws, you’ll need to work hard to get to understanding the foreign culture & language, but you’ll soon realize it’s possible to do business anywhere in the world. Add on the presence of Social Media , it acts as a catalyst as its the most important resource in today's world.