Most people think that some of the biggest challenges when it comes to starting up or running a business are things like “a great idea”, business capital, lack of infrastructure, lack of time, thick competition, and more.
I’d dare say this: none of those things are a real problem. In fact, most of them are opportunities in disguise.
The real problems lie elsewhere. There are actually three broad parts to it and here are those:
Managing Self
You are the biggest bottleneck to your own business. As an entrepreneur, you can’t separate your DNA from that of your business. How your business turns out to be depends on who you are. So, business is much like water, taking the shape of the vessel it finds itself in. In this case, you are the vessel.
Too adamant? Can’t listen to inputs from your team? Are you a perfectionist waiting for too long on execution? Are you tech-oriented and not marketing-oriented? You can be all that but you’d have to learn how to manage yourself for success.
Managing People
It’s not easy to find the best teams. Those that you do find are going to be a series of gambles you’ll take until you find gold (and assuming that your core team sticks) — all this in itself depends on a lot more factors. Getting everyone to transition into growth, understand your vision, and have people invest as much into your business emotionally is a tough call.
Just do it and figure it out later.
Managing Complexity of everything
As if the above two points weren’t enough, you also have ever-changing technology, competition, governments, taxes, changing economies, global complexities, and many other factors that you’d have to face. These are challenging because you don’t much control over adversities, if any.
