Entrepreneurship Challenges

Petros Piki, CA(Z), MSc, RPA

What is Entrepreneurship?

Entrepreneurship is about polishing an ugly situation into something altogether more appealing, solving societal problems, improving lives and making the world better. Entrepreneurship is about finding a bright spot during crisis and challenges. Wikipedia defines Entrepreneurship as a process of designing, launching and running a new business, which is often initially is a small business. According to Maslow there are five categories of needs that is physiological, safety, love, esteem, and self-actualization. Entrepreneurs help humanity meet these needs and make life better in general.

An entrepreneur must always be looking for inefficiencies in the market and work on making activities and life more efficient. Its all about identifying gaps and fill them! Where are we lacking, where are things not operating as efficiently or as effectively as they could? How can I make things better? How can I make the world better?

<script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>
<ins class="adsbygoogle"
     style="display:block; text-align:center;"
     data-ad-layout="in-article"
     data-ad-format="fluid"
     data-ad-client="ca-pub-9909000456991631"
     data-ad-slot="2895459834"></ins>
<script>
     (adsbygoogle = window.adsbygoogle || []).push({});
</script>

People who create these businesses are called entrepreneurs. Investopedia defines as An entrepreneur as an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. To be an entrepreneur one must be able to design a workable business model that brings in sustainable source of revenue and one must be willing to start small and scale as they go. Entrepreneurship involves carrying and bearing the residual risk with the hope of reaping the benefits of having the courage to take risk.



Entrepreneurs face a lot of challenges in their road to fame and success. The challenges range from physiological to financial and affect different people in different ways. There are two options in life either one works in formal employment or one starts their own enterprise and in turn work for themselves in a way. This blog seeks to explore why some people break from the formal working and why some die being employees.

Risk has to be calculated risk! Don't just dive into a pool infested with crocodiles! Think! Consult!

Are the challenges of being an entrepreneur worth to take?

How can one overcome some of these challenges?

This blog seeks to explore deeper into this subject. Keep checking on this blog for insights and updates.

Neverlank is a financial services firm that helps entrepreneurs from business idea generation, company registrations, tax issues, accounting issues, setting up of systems, financial raising and issues of strategy. Call +263718110832 for assistance today.

Here for people with dreams - You dream and we help it come true!