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What is the Biggest Challenge Entrepreneurs Face Today?

richardwalterrichardwalter subscriber Posts: 2
edited January 2017 in Business Planning
Hello,

I want to start an engaging conversation, and am hoping for a lot of responses from users with different backgrounds, experiences, successes, failures, etc.

This will allow our members to ponder certain aspects and questions about starting a business they may not have considered before, and it will be a great thread for advice.

So, what do you think is the biggest challenge facing entrepreneurs in today's day and age?

Thank You In Advance,
Richard




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    Ryan O'BlenessRyan O'Bleness administrator Posts: 1,137 Site Admin
    Hi, Richard.

    Welcome to the community! It is engaging topic, indeed. In fact, I have already started this conversation and it has gotten a lot of responses. Feel free to post your ideas in that thread: business-planning/what-the-biggest-challenge-entrepreneurs-face-today-t12443.html

    Best,
    Ryan O'Bleness
    Community Manager
    StartupNation, LLC
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    ArunaAruna subscriber Posts: 4 Member
    edited January 2017

    Hi Richard,

    For every Entrepreneur, multiple challenges are there-

    • Technology
    • Finance
    • Knowledge
    • Market size etc.
    Apart from these they also feel some psychological challenges like lack of motivation etc. 

    Regards

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    McCandlessMcCandless subscriber Posts: 52 Bronze Level Member

    The biggest challenge is an error of omission, that is, you should have done something but you didn’t.

    Warren Buffett often referred to this kind of mistake as his greatest: he saw a great deal, but instead of going for it, he did nothing.

    In the case of an entrepreneur, the mistake is NOT to explore and discover his/her greatest talent.

    Your talent is truly a God-given gift, and if you use it in the right industry, you will be, as Charlie Munger colorfully put it, “competing against idiots.”

    Tom Rath’s book, Strengths Finder 2.0, is a good place to start, but it’s very possible your greatest talent is NOT mentioned in his book.

    But he will get you thinking about talent and the necessity to find out what yours is.

    The second greatest mistake is, knowing one’s talent, NOT FULLY using it to one’s advantage.

    My talent is writing, so I could basically outwrite all my competitors into non-existence LOL!

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