4 Major roadblocks you will face while starting a business. If we thought of starting a business, what do the things that come to your mind? Number one will be the cost and second the type of business that you will do. Yes, I understand, that it is not really easy to be an entrepreneur and start up a new business. It is one of the biggest challenges in itself. You have to think about small-small aspects of starting a business. It can be the finances, it can be the space, the manpower and many other things are there that a person thought of before starting a business.
Starting a business is a difficult yet interesting task. Especially when you have to grow your business, then comes a big challenge. You will face the challenges like your competitors are giving you a tough fight, your stocks price decreases or you can have any or the business disaster but as a business, you should be strong hearted to raise your business. You will have to start from the scratch to achieve the heights in the business.
Your business can be as small as a small store room but it is you that will take this small business to great heights. But the challenges that I have discussed above comes in the later stages but in this article, you will study the challenges that come with starting a business.
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So, let’s start with the topic .
14 major roadblocks you will face while starting a business: Hiring staff:
This is one of the roadblocks that you will face while starting a business. In India, most of the candidates that want to start a career are interested in getting placed in a big organization. Mostly, the experienced people. All the experienced people want to work with big organizations. They do not want to take a risk by working with a startup.
In India, people are most interested in working with the MNC’s and government, either central or state. This is because of the job security that is provided by them. whereas most of the startups fail to go further because of the challenges they face. The failures are also because of the lack of business plans, capital and many other reasons are there. You can read the related article: 7 reasons why startup fails.
In order to hire a good talent for the company, you can even hire the fresher students on internship. This will save the companies money because you are getting employees at lesser salaries. Whereas to train these candidates you will have to hire an expert as well. So at the start, you should hire the HR department staff, that will hire the other staff. The HR department should knowledgeable and intelligent enough to select the right people.
One of the biggest roadblock out of the 4 major roadblocks you will face while starting a business is the capital. Earlier, it was difficult to fund your business because no banks were interested in providing loans to the entrepreneurs. Nowadays many processes have started to fund the young talent of the country like the venture capitalists, crowdfunding and many more. Also, there is this policy started by the government called Micro unit development and research association(MUDRA). The MUDRA policy is to fund the entrepreneurs of the country. Also, you should collect the funds for the business future at the start. It might be six months before the business starts.
In a business, there can be lots of ups and downs, as we have in our lives. so a person should be ready to face them with lots of pre-funding.
3Finding the right idea:
The idea is the key to starting a business. You cannot start a business without knowing the plan or the product. The success of the business lies in how strong the idea is. You have to go and research the market demand for the product. You have to see your competitors in the market. Do not launch or spend money on a product that is already launched by any company. Find a unique and innovative idea that will help you in starting a business and in turn, it will lead your business to the extreme heights. This is one of the 4 Major roadblocks you will face while starting a business.
Sometimes, what you think that only happens in your life. If you will think that “I cannot start my own business” then trust me you will never have the courage to start your own business. Also, if you will say that “I will not be able to succeed in my career” then you will not be able to succeed in your career. So, my friend, all is the mind game, my friend. To overcome the negative mindset you will have to first detect the negative thoughts. You can do this by writing your negative thoughts on a paper. Once you will start writing the thoughts then you will be able to find the solution to your negative thoughts.
The most common negative thought is that “I will fail in the business”. If you will stop just by thinking about failure then nothing can help you do anything big in your life. You should at least try once if the failure comes then take it as a challenge and face it. Removing the negative thoughts from your mind will help you to create the space for the positive thoughts that will, in turn, reflect positive things in your business. This another one of the 4 Major roadblocks you will face while starting a business
To conclude, above are the 4 major roadblocks while starting a business. You can just stop starting a business by fearing them or you can work hard to overcome them to start a business. You just have to create a positive mindset so you can create a positive environment around you. It is really a tough task to take the challenges in a positive manner. My last and important suggestion is that if you have a big heart then only take a risk of starting a business. Because starting a business take a lot of courage and also growing it is a challenging work. I hope this article would be helpful to you.