Four Major Obstacles to Entrepreneurship

Four Major Obstacles to Entrepreneurship

Being a new entrepreneur usually comes with responsibility, a sense of achievement, and truth be told, obstacles to overcome. Some obstacles, like finding funding or investors, are easy to anticipate. But there are others that are more surprising. The website Noobpreneur asked members of the Young Entrepreneur Council (YEC) “What do you find is often the most difficult part of being a new entrepreneur?” These are the four answers we thought were the most thought-provoking. 

Balancing Tasks

“My biggest hurdle as a new entrepreneur was balancing all of the tasks I had to complete each day. I did most of the managing across our teams alone. I believe it’s possible to overcome that obstacle by slowly training your top performers into manager roles. Give each person an extra responsibility or two every week and, eventually, they will be ready to step into the role.”  

Being Your Own Boss

“The hardest part is not having a boss, set schedule, or game plan. I hired a business coach and that way I felt accountable to a quasi boss who gave me deadlines and a general road map for marketing and visibility. I ended up finding my flow through trial and error and realized the type of profession I was in required normal business hours. Do it good, make it better.”

Managing Your Time

“When you first become an entrepreneur, time is both your friend and your enemy. It is imperative to learn how to prioritize while managing yourself, your team, and your organization. Figure out which time management techniques work for you. Once you find your personal recipe for success, stick with it. Carving out time for everything is hard, but it’s integral to a startup’s future success.”

Finding Work-Life Balance

“The most challenging part of being a new entrepreneur is finding the perfect work-life balance. Many new entrepreneurs think they have to work 60 hours every week if they want to find success. You have to learn to pace yourself and spend time away from the office to keep your momentum going and avoid burnout.”

It may come as a surprise to some that so many of these obstacles have to do with juggling tasks and time. But helping small business owners find more time is exactly why I created VersaTel Solutions. My team of bookkeepers, administrative assistants, and HR experts will take tasks off of your plate, giving you more time to grow your business. If you’re having trouble handling burdensome tasks, reach out to us.

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