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Iniatial challenges when starting a business

Entrepreneurship comes with a host of challenges. Rewarding challenges, but harsh challenges nonetheless. Experienced entrepreneurs have to deal with this no matter how long they've been in business -- trying to establish a brand, adjust to match or exceed the competition and keep your business profitable is a challenge no matter how many years you've been in business.

But for new and young entrepreneurs, there are some unique challenges that are especially difficult to overcome. If you're just getting into the game, or you're thinking about becoming an entrepreneur, be prepared for these eight significant hurdles.

1. Abandoning another career

If you're going to dedicate yourself to starting and nurturing a business to success, it's going to be nearly impossible to simultaneously manage another career. You might be able to manage the infancy of your business on the side, during weeknights and weekends, but if you want a chance of growing significantly, invariably you'll have to quit your day job.

Walking away from a promising, steady long-term opportunity for something unpredictable is scary -- especially if you've never run a business before. Unfortunately, there's no easy way to address this. Just think through your decision logically, and don't ignore your instincts.

2. Financing

Experienced entrepreneurs don't have it easy when it comes to funding a new business, but they do have a few advantages over newcomers. They might have a pool of capital from a business they previously sold or a steady stream of revenue they can use to fund a new business's cash flow.

Even if their first business went under, they've likely made investment contacts and client connections necessary to give them a leg up in a new enterprise. As a new entrepreneur, you'll be starting from scratch, which means you'll need to start networking like crazy and thinking through all your possible funding options before landing on one.

3. Teambuilding

This is especially hard if you've never run or managed a team before, but even if you have management experience, picking the right team for a startup is stressful and difficult. It's not enough to find candidates who fill certain roles -- you also need to consider their cost to the business, their culture fit and how they'll work as part of your overall team. Such considerations are exceptionally hard when you're under the pressure of filling those positions as soon as possible.

4. Being the visionary

As the founder of your startup, you'll be expected to come up with the ideas. When a competitor emerges, it will be your responsibility to come up with a response plan. When your team hits an impenetrable obstacle, your job will be to come up with an alternative plan to move forward.

This demands on-the-spot creative thinking -- which should be an oxymoron, but entrepreneurs rarely have the luxury of time. The less experience you have, the more pressure you'll feel from this, and the harder time you'll have coming up with acceptable plans.

5. Dealing with the unknown

How long will your business exist? How profitable will your business be? Will customers like your product? Will you be able to give yourself a steady paycheck? None of these questions has a solid, reliable answer, even in startups based on great ideas with all the resources they'd theoretically need.

That unknown factor means your job stability is going to plummet, and many of your long-term plans will remain in flux as new developments emerge. Dealing with this volatility is one of the hardest parts of emerging as a new entrepreneur.

6. Loneliness

It's a rarely mentioned problem of entrepreneurship, and many new business owners aren't prepared for it until it happens. Being an entrepreneur is lonely. It's a singular position, so you won't have teammates to rely on (completely). You'll be working lots of hours, so you won't see your family as often. And your employees will be forced to remain at a bit of a distance.

7. Rule-making

It's fun to be the boss until you have to enforce something. Sooner or later, you'll have to come up with the rules your business follows, from how many vacation days your workers get to what the proper protocol is when filing a complaint about a coworker. These details aren't fun to create, and they aren't fun to think about, but they are necessary for every business.

8. Decision-making

Believe it or not, this is probably the most stressful challenge on this list. New entrepreneurs are forced to make hundreds of decisions a day, from big, company-impacting decisions, to tiny, hour-affecting ones. Decision fatigue is a real phenomenon, and most new entrepreneurs will experience it if they aren't prepared for the new level of stress.

If you can work your way past these major obstacles, you'll be well on your way to establishing yourself as an entrepreneur. That isn't to say they won't continue to nag at you as the years go on, or that new and varied challenges won't arise to take their place, but you'll be prepared to handle yourself in those most volatile and impactful first few months -- and that puts you far ahead of the competition.

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Starting A Business

Starting a business is both exciting and stressful. Whether you are starting from scratch or buying an existing business, it is critical to start out on the right foot. Our services, specific to the needs of a new business owner, are designed to answer your questions

Business Startup Special

The package includes Business ideas ( in case you don't already have one) Company Registration /Business Registration Domain Registration and Hosting Business Logo Design Website Design/ Redesign For Your Business Capital options

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We offer services from ltd company registration, Business name registration and Kra pin registration and others

Content Writing Services

The first rule of writing is "know your audience". The reason this is so important is because someone reading your content on your website will not read it the same way they read a brochure or flyer. Also, the same person reading your website content from their Smartphone will have different expectations too. Bright Startups knows how to address your audience no matter what your media is and we target the content for the right audience and their expectations. If they can't, or won't see what you have to offer it doesn't matter how good a product or service you provide. Make sure your message is being received.

Business Consultation

we care about empowering business owners, sustainable development and making a difference. Our business is to add value, protect clients and help them achieve their dreams and business objectives. We understand what it takes to cultivate a prosperous business and develop practical solutions that yield profitability and growth. We will work closely with you to ensure your needs are met—providing expert guidance you can trust.

Responsive Web Design

Get a professional website for your business. A website is an online brochure where your clients can know about your business, the kinds of products/Services you sell. A well designed website will make your business appear more professional. We also redesign websites if your current one is not meeting your needs and you can use it as an interactive platform where you can get clients feedback, inquiries orders and much more. We offer 3 website packages;.

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Your brand is extremely influential; it what is said about you after you have left the room, it is your reputation, the moment you do something careless, your brand is not trusted. It is what you want people to remember, is your brand saying what you want it to? Developing your brand correctly is crucial to your success. It is important to define your brand. Who are you? What makes your company unique? What do you stand for? It is necessary that your brand reflects the answer to these questions, not necessarily what you're selling..

Skills Training

Today's business world is fast-paced and ever changing, requiring individuals, organizations and business owners to react quickly and think on their feet. These skill-sets are the basis for improvisation; by understanding and utilizing the rules of improvisation, individuals and organizations can master their business environments. Bright Startups provides value-added services for a number of issues facing organizations, individuals and business owners and can assist in improving:

  • Entrepreneurship Training.
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Tax Services

A lot of management time is taken up in tax administration and keeping up with changes in tax rules and regulations. We help you manage your taxes by advising on tax efficient ways to conduct your business, ensuring compliance and keeping you abreast of new tax developments.

Our team will offer you tax administration services, ensuring compliance to tax rules and regulations and keeping you upto date with day to day tax developments. Our tax services include but not limited to the following:

  • Filing returns: Income tax and VAT returns
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Starting A Business

Starting a business is both exciting and stressful. Whether you are starting from scratch or buying an existing business, it is critical to start out on the right foot.

Our services, specific to the needs of a new business owner, are designed to answer your questions, such as

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Business Startup Special

The package includes Business ideas ( in case you don't already have one) Company Registration /Business Registration Domain Registration and Hosting Business Logo Design Website Design/ Redesign For Your Business Capital options (Finding Investors)


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Personal Business Consultation

Our business is to add value, protect clients and help them achieve their dreams and business objectives. We understand what it takes to cultivate a prosperous business and develop practical solutions that yield profitability and growth.

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