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.
What business do you want to start? You need to consider that today you have to be digital and conquer this space but keep in mind that good digital product costs a lot because software designers and developers overcharge customers compared to other types of works and in digital space, it's normal.
The most challenging thing that entrepreneurs experience is that they draw a good image of a company in their mind, that is far from reality. In reality, every business is full of challenges. One of the biggest challenges is to find good employees, this is the hardest thing and the next hardest thing is to negotiate a salary with your employees because good employees do not work for cheap and entrepreneurs need to minimize expenses. You also have to consider that your employee don't care about how your business performs, they want to get their salary at the end of the month, and they won't treat your business like it's their own child.