As young entrepreneur what are those unique challenges I am likely to face in the contemporary business environment? Aside the capital which I have been able to raise a modest amount as start-up.
This was a question sent to me by my young cousin. I felt I should bring it here to draw broader ideas from different minds before getting back to him with words. Feel free to share your honest ideas and experiences.
Every entrepreneur will definitely have their own pressures and depending on what business they run, especially as a beginner entrepreneur, there are many challenges to face. In addition to capital and facing today's business environment. This other challenge is also about our mentality and readiness to face all the risks that will occur in the future. What is certain is that all lifestyles will change, no more hanging out, and no longer eating monthly salaries, even having to give salaries to others.
In addition, the next challenge will even be the main challenge that must be faced is maintaining cash flow in the early stages, you have to do part-time work on weekends, so that the business continues to run. Finding a good supplier is a big challenge. Finding the right person to evaluate products, storage space, and product quantity. There is also product photography, marketing, evaluating profit margins compared to sales, and so on. Indeed, this is a technical thing but all of this must be done consistently so that the business can run today.