While there has been a clear explosion of opportunities for an entrepreneur today, so have the challenges that they face. In this article, which would be split into two parts, would like to highlight some of those key challenges (by no means exhaustive) that await budding entrepreneurs.
While the financial success and leadership position of Narayana Murthy and many others of his ilk from the technology industry is widely talked about there is one more far-reaching impact they have had which is not that equally hyped. Pre-their success, entreprenuership in the business context was primarily a family bastion and the reserve of springs and offsprings of existing businessmen and traders.
Since I do the speaker circuit a bit and speak to variety of audiences have been through the “trying to make an impact and get as many claps as possible over the previous and next speaker” routine. And later bask in the glory (short lived one I must say) of having people walk up to you ask questions or exchange pleasantries. The more I do it, the more it seems to me that we love inspirational tales, talks and books so much that we stop with just loving them.
Often while running a business one of the biggest frustrations faced by those who head and run it is that they seem to often hit an air pocket with no solution in sight.
There are many, many popular myths about money from a venture point of view, which have been overblown. While to some extent they are true, in an entrepreneurship context, they have become fairly irrelevant over the past decade or so.
Picking up from where I left in the last article, there are three more key challenges facing an entrepreneur today.