For most entrepreneurs, part of the dream of running one’s own company is the freedom that it can provide. This is not only terms of the potential for growing wealth, but also in terms of having the ability and space to set schedules that work with existing commitments and desires to be able to enjoy this capacity for abundance. Although these outcomes can certainly be eventualities, there are also frustrations that can occur, both early on and over the course of progress, which may seem daunting to the owner.
The Common Realities
Although factors which impact the process of a start-up can vary greatly depending upon individual circumstances, experiential bases, and even environmental or social factors, several challenges appear to be the ones that can have the greatest impact on an owner’s ability to see their dreams to success.
- Circumstances beyond control – being one’s own boss does have pros and cons, and while entrepreneurs tend to be independent by nature, they are also aware that partnerships can be necessary for capital and support. This can often make it feel as though the company is really at the mercy of stakeholders and professional partners and can make owners begin to feel ineffectual.
- Resources, sustainability, and growth – while startups do help owners to begin a business with limited initial investments, over-limitation can also lead to a sense of stagnation, when growth is insufficient to properly reinvest in the company. This can also make it feel as though the enterprise is simply stagnating, but resuming process can also come back to the persistence and intent of the owner.
- Forging a path to progress – while there are marketing and promotion tactics that are considered general best practices for online promotion, these are not always specifically applicable to different start-ups. This can also bring about frustration, as owners use trial and error for effective promotion, with no significant results.
What is most important for new owners to realize is that these realities do happen, but it does not mean that success is unachievable. Retaining the vision of the company, but also operating with a sound plan for the business structure can provide the creative solutions to these challenges. Recognizing them is the first step, but persevering in action is the means to progress.