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Biggest challenges for entrepreneur

Getting into a DMCC business centre in Dubai and competing with competitors while keeping your customers satisfied is a hard task. Even if you have a lot of experience in business but setting up a new brand is a hard task. If you are planning to be an entrepreneur and thinking of getting into the business for the first time then you might encounter some difficulties. 

Here is the list of the challenges that new entrepreneur might face: 

  • Day job abandoning: if you are working on a day job at some place along with your business bay in business centre, then this might create hurdles in the way of growth of your business. Working extra on weekends and late night on weekdays might help your business to grow a little but once you quit day job then you can give all your time to your new business. This will help you succeed and will make your brand reputable too. Along with career of a job you would not be able to give full effort to your business. 

Though leaving career over an unpredictable  business is a hard thing but think logically and risk is the key to success.

  • Financing: Capital for a business is an issue for new comers. But experienced entrepreneurs have few advantages over new comers. The might have financing for new business either from sold business or business that is still in running. Experienced entrepreneurs also have lots of connections and repute in the marketing too. If you are a new entrepreneur then you have to start from scratch, attend meeting events and develop connections and look for all the possible ways to manage finances
  • BEST TEAM: Teambuilding is a hard task if you do not have any experience in management. Choosing the right team and calculating their expenses with the cost of the business is a crucial step. The team should work together extra ordinarily and the team mates should get along to create a friendly work behaviour. 
  •  Entrepreneurs as Leaders:  if your are leading a company then you should come up with ideas that could boost your sales and help your brand gain a reputable position. Entrepreneurs should be creative and come up with Ideas that makes their brand stand out from competitors.
  • Unanswered questions: the questions like why your business will work or not? Will customers like your product? Will your brand be reputable? The answers to these questions are unknown. You just have to follow your instinct and give complete and efforts to your work as a new entrepreneur. 

Author Since: Aug 16, 2018

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