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.
The biggest hurdle is always the capital, if you say that you already raised "enough" then you have overcome the hardest part. But make sure that you are aware of how much your capital is, and what the cost would be. Because sometimes people think they have enough capital and then later learn that they do not have enough capital at all.
Secondly, and this is by far the most important one, online world opened the business to everyone, which means that you have a lot of competition, and marketing is very very difficult, whatever you are trying to sell, a product, a website, an app, or even yourself as influencer, it doesn't matter they all require a great deal of marketing and consistently doing it. Getting those customers is tough, if you can find customers, you can literally sell rock and still make money, but if you can't then you can sell the greatest innovation and still not make a dime.