The 8 Biggest Challenges for New Entrepreneurs

Launching a new startup is ripe with challenges. Once you activate your platform or service, you still have to build a team, build a brand and promote it, and generate sales.

Writer and former entrepreneur Larry Alton writes in Entrepreneur Magazine about the biggest eight challenges facing new entrepreneurs.

1. Abandoning another career - Why leave a promising career for a new business?

2. Financing - You need a network to raise money, so start building yours.

3. Teambuilding - Who do you know with needed skills who can join the team?

4. Being the visionary - You’re expected to come up with the ideas and break logjams.

5. Dealing with the unknown - A huge challenge - you work every day with no assurance of a steady paycheck and with daily volatility and lack of surety about the future.

6. Loneliness - Beyond loneliness, research shows that 30% of entrepreneurs suffer from depression in their lives.

7. Rule-making - A company needs rules of the road.

8. Decision-making - It’s all up to you.

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