Presented By:

2016-CS-433
2016-CS-409
2016-CS-408
“ I failed in some subjects in
exam, but my friend passed
in all. Now he is an engineer
in Microsoft and I am the
owner of Microsoft”
1. Self Doubt.
2. Lack of Resources.
3. Competition.
4. Social Media Management.
5. Failure.
 (Lack of training and mentorship)

Your friends and family, the online gurus, publications, and even casual
acquaintances can provide you with a steady flow of information regarding
business news, industry developments, and opportunities. Industry analysts,
consultants, employees, and good networking contacts can share their expert
knowledge with you regarding particular situations and needs you may
encounter. However, only a business mentor can truly share wisdom with you on
an ongoing basis, and in a manner that can have a direct, positive impact on the
growth of your business over time.
1. Where else are you going to turn?
2. They have “Been there and done that”
3. Expand your social network.
4. A trusted long-term relationship.
5. Its usually free.
Political and legal challenges include law and regulations that mostly
restrict activity business. The enforcement is carried out by the
government such as the pricing of controlled goods and wages.
Sometimes these controls will lead to entrepreneurs unable to reap
maximum profit. Hence an entrepreneur must understand the politics
and law of country deeply.
Technological referring to the new creation generated by the research.
Innovation occurs when a better method is found from
the research conducted. Technology cause long
term impact on lifestyles, consumption patterns and public economy.
For example computers are an innovation that is always changing. Initially,
computers used to replace
typewriters and improve productivity through information management.
Now, computers have been diversified so that it can be used as a compact disc
player.
Financial Challenges:

Obtaining
Financing

Entrepreneurs can face a variety of

financial issues that can impact the
business's profitability, and even its
long-term survival Negative Financial Mismanagin
g Market
Cash Floe
Challenges Funds

Fear of
Being in
Debt
Obtaining financing for a business can be extremely difficult,
especially when first starting out. Banks are reluctant to lend
money to new businesses, and potential investors may steer
clear of budding entrepreneurs with little or no prior business
experience. A well-crafted written business plan is essential
when attempting to convince lenders and investors
Older people are seen as being more responsible and wiser.
Younger entrepreneurs tend to be discriminated simply because
of age. The only real solution is to be sure that you do your job
right. Your business plan will always be the best weapon you
have as you try to secure financing.
Start-up companies may have difficulty developing and
maintaining a positive cash flow, especially during the early
stages when they have yet to establish a regular customer base.
Spending too much money on things like rent and employee
salaries can also create negative cash flow.
Entrepreneurs may be tempted to spend money on one expensive
advertising medium like television, thinking it is the best way to
reach a large number of people. By doing so, they may not reach
their desired target market, rendering the ad ineffective.
Owning money is not a pleasant feeling. However, as you age you
quickly figure out that a part of your debt was positive. Short term
business loans are always taken out after you carefully plan
repayment schedules. They can be highly advantageous for the
business. However, if you are afraid of being in debt, it is possible
that you make bad decisions as you look for financing options.
• Relation with Personnel and Employee.
• Avoiding Discrimination:
Everyone has the right to work in a place where discrimination is
not practiced. Factors like age, sex , race , religion , political
benefits and the like must not be allowed to affect any person’s
chance of getting employed or promoted.
 Economical Challenges

Cash flow management Strapped budget

 Cash flow management during  Even though the cash flow is fine
growth periods is critical ,it seems you never have enough
,because in many cases growth in your budget to market your
requires investments in people company to its full potention.
,technology ,suppllies,
etc…ahead of the receipt of cash
from customers.
Marketing strategy
 You don’t know the best way to
market your products and
services: online, mobile,
advertising, etc.
 You want to maximize your
return on investment with
efficiency , targeted marketing
that gets results.
Strategies to overcome above Challenges

 Move Fast and Keep Innovating

 Think Ahead of the Times

 Your Time is Valuable

 Learn From Your Mistakes

Strategies to overcome above Challenges

 Persistence and Perseverance

 Take Risks

 Never Give Up

 Focus on Unhappy Customers

“Being entrepreneurial can mean knowing your industry
inside out , and being able to exploit that knowledge to
create new opportunities.”