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.
As an entrepreneur they have to come up with unique business ideas or unique modifications in the existing ideas, they had to give more time, motivation should be on peak, work should be everything for them as until they don't get their target. One thing I must say is they should not have this mind set of making quick money and getting rich. As it's a slow process and never lose hope after first failure as I read somewhere that the step after a failure is still counted as progress.
Speaking of problems, they can vary from ideas to ideas and region to region, in my country we can't work on our ideas as there is less demand for everything, people have only enough money to meet their daily needs but if somehow I come up with ideas that also fulfills people's needs and save them money then that will be bought easily.