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.