Challenges All Entrepreneurs Have When Facing A New Busyness

Having your own busyness is painted as the best of both world, making lots of money and working for yourself. However it's a challenging choice for everyone, especially if you are new onboard. Here I'm going to list the biggest challenges you might face when you start your busyness adventure.

Finding good and reliable products or services

Having your own busyness means you are going to start serving people directly, using your name, history and face to please their need. Choose your product or service wisely, you can focus on quantity or quality, but it's advisable to always aim to the cost x benefit as you begin. Criticisms will eventually show up, and it's a hard burden, so be ready and make choices wisely to be able to stand and grow with them.

Another important point is, when choosing your product or service, be aware of the limit of people they can provide. For instance, if you are a teacher and want to earn more, you have a limit of classes you can teach a day, thus, it's a smart move to create online courses, with recorded classes, so the number of people you can serve are endless. But if you are a craftsman, and you are the only one able to make your product, then you are limited to the demand that you can handle and your only option is raise your prices and you might never make money with it while you sleep.

Having said that, besides thinking of good products or services, try to figure out ways you could make it reach and serve more people without your presence.

Procrastination

When starting a new busyness, your biggest enemy is yourself. As you don't have anyone on your neck other then the life's responsibilities. You may lead to self-sabotage. Your body and mind are used to serve like they teach at school. Study then get a college degree, get a job and work. They don't teach us to work for ourselves, so we are almost blind if we start without a reference. To make matters worse, it takes a wile to reap the benefits of your effort. However, every step you take is a step forward, says everyone who has walked this path and succeed.

Place of work

Most of small businesses start in a garage, in a small room in the backyard or in someone's bedroom table. As soon as these businesses begins to grow, they need to find a new place to keep their work expanding. As it happens, finding a place to work can be very difficult. There are so many things to take into consideration, such as the environment, neighborhood, distance from home and so on. Needless to say, you have to take the rent into consideration, what makes a significant readjustment of your price.

Red Tape (bureaucracy)

Whereas some countries encourage you to open your own business, thus generate more jobs opportunities and also help the economy. Other countries will put up wall to take the most advantage of the entrepreneur as possible. Abusive fees and taxes, piles and piles of sheet papers, delays and long deadlines. All for you regulate your busyness or else, they will shut it down. Besides that, there is the income tax and insurance. On the other hand, don't let the red tape discourage you, you must have in mind and study about it, but when time comes, you will probably be wiser and wealthier to deal with it.

Staff

After a while, it gets even more difficult to deal with every detail of your busyness all by yourself, not to say it'll be impossible as long as it expandes! So it's time to find people to help out, and that's definitely the hardest part of having your own busyness. You are the one who worked hard to reach so far, but most people don't know that. They are looking for money, easy money, because that's how they learned to do. You seldom find someone with your skills and knowledge, because they are doing the same thing as you, they are your competitors. So you have to find people who are great in a specific area, and give them confortable means to perform their job at their best. That's what they want, and that's what you want. Few people are brave enough to walk the path of having a busyness, so far that they needed to hire someone. They have no clue how hard it is. Needless to say, there will always be that ones who will quit working with you, because they believe your job is so easy that they will try to do by themselves to become your competitor... Well, good luck for them!

There are dozens of things we could list here, like, associates, accounting, cash flow and so on... but the ones listed above can be critical for those who are starting from a scratch. In order to be ready, one should always be studding and being attentive to all the details about the subject, that's is going to differ who succeed and who fails. The journey requires more than just work hard. It requires patience, focus, knowledge and will. No one is born ready, They choose and work to be ready for it!
Good Luck!

Evan Oliveira
New Investor Channel