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Challenges Entrepreneurs Face In Business

BY TOKUNBO FASORO

The economy is not smiling in a lot of countries in the world right now, especially countries that were totally dependent on oil as income. A country like Nigeria has been one of the greatest ones hit since the fall in oil prices and this has led to a lot of pay cuts, job losses and a hard time for employers to even pay salaries.
This situation has forced a lot of people to seriously begin considering entrepreneurship like never before. Entrepreneurs emerge from every angle.

I would like to discuss a few challenges you may face as a new entrepreneur and ways to succeed them.

  • Doing anything that generates income, not specifically something you believe in and are passionate about: If you do something you believe in, you can get other people to believe in it. Your interest and passion is what drives you when other things are failing.
  • Picking the right business: Make sure your business is providing a solution; it must be the answer to a problem, a response to a need. Ensure you deliver what you have promised.
  • Finding your clients: If you have a good product or service, people will come to you. This way you may not need to spend money on adverts, referrals from past clients will almost guarantee your success.
  • Handling people who need your product or service: Sell it calmly, don’t be pushy but wait for them to come to a decision on their own.
  • Having a business plan: Research business plans to help you draw up yours.
  • Having existing savings: You need to have money to address your personal needs and money you can work with before you begin to generate income.

Stay connected to Bi Empowerment for part 2.
Do have a great day and never give up on your dreams.

Tokunbo Fasoro
# WeEmpowerYouths

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