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10 Challenges Entrepreneurs Face Today – And How To Get Past Them

Expert Panelists are handpicked and invited to contribute because of their knowledge and valuable insight within the areas of Business, Mindset, Leadership, Innovation, Technology and Lifestyle. In Brainz Expert Panel, 10 members of The Brainz Magazine community of experts will share their best tips, advice, ideas, hacks within different topics.

 

1. Self-blame is the number one challenge entrepreneurs face

Self-blame does not motivate us consistently in the long term. According to research from Olivia Longe, it causes activation in the brain's dorsal anterior cingulate and lateral prefrontal cortex. These areas are associated with error processing and behavioural inhibition, causing us to stop taking action.


The answer is self-compassion. Self-compassion shows an awareness of our challenges whilst encouraging us to take action that our future self would be proud of.


2. Too much stimulation, distractions, and lack of focus

Constantly being "sold" to, advertise to have a quick fix here, or a new course to help you be this do that or get clients to hack there. It has become a constant stream of being sold to or suggested to try new things, new technologies, new modalities. Ways to get past this: Set goals for the year (know where you are going so you know what you need) this also includes a budget. Learn discernment, when you are being sold to or suggested to a new way, ask yourself: does it align with the goals, vision values, and mission of the company, is it in my budget, is it serving a purpose, do I have the time and energy to implement it. If the answer is YES to all the above, then create time (or your team to create the time) to implement, learn through using and make adjustments. You have to put in the work to get results, just because you purchase something, download a freebie, etc., doesn't mean it will manifest into productivity, you have to add the work, action, dedication and follow through to get results.


3. Not Having Enough Time

Simply stated, KEEP TRACK OF YOUR TIME! I could write a book about not enough time - I think we all could! Delegating your time to perform income-producing activities is a MUST. Part of this delegation process is to be intentional about how valuable your time is. Whether you use an app on your phone, you should always have a written calendar as a mirror reflection of your online calendar. Your stress level will decrease and your ego will thank you!


4. Standing out in the virtual marketplace

In a continually growing and crowded online space, standing out in the virtual marketplace is one of the biggest hurdles for entrepreneurs today. The key in rising above the digital white noise, and creating compelling content and copy that converts, is through knowing your niche well enough to be able to articulate their situation clearly. When we stop to read content or copy it's because we feel it is relevant to us as individuals. Know your audience and you'll dominate marketing online.


5. Development process and stages of their mentality – The Mindset

The number one most important part of any entrepreneurs journey is the development process and stages of their mentality – the mindset. Speak to any successful entrepreneur or any entrepreneur today and they will tell you about the extremely tough challenges they faced and continue to face constantly in the world of business. It's all about having the mental strength to conquer these challenges internally to achieve progress towards what you want - wealth, growth, happiness and freedom to name a few.


Self-doubt and fear come hand in hand when you first make the decision to start your own business but it has a way of consistently creeping up on you from time to time throughout your journey as you try to move forward.

  • How do I even start a business?

  • What if I fail?

  • How do I get clients?

  • How much will a good mentor cost?

  • What product/ service will I provide?

  • What if I don't make any money?

What if, what if what if...


The answer and the solution are NEVER GIVE UP on developing yourself!


You need to continuously learn, develop, grow and fail. This builds confidence and experience which helps eliminate those self-defeating behaviours. Personal development comes in many forms – mentorship, courses, books, online learning etc. but the great thing about taking action towards your own self-development is there's no incorrect answer or wrong way to do things, as long as you are progressing, moving forward towards your goals, targets and what you want to achieve then that's all that matters. For as long as you are developing and working on yourself mentally, it will always work out for you.


So, if you are feeling self-doubt or fear, then set your priority focus on developing your mindset.


6. Inner Critic

How many amazing entrepreneurial ideas have been stopped by a deafening Inner Critic? Probably more than we could ever count. It's time to turn that Inner Critic into an INNER CHEERLEADER! That's right. Imagine if you had your own personal cheerleader, what would they say to cheer you on to reaching your dreams? Write that down and start saying it to yourself. Not only are you more likely to achieve your version of success, you supporting your body in being healthier!

Arliss Dudley-Cash, Business and Self Love Coach


7. Staying focused on your goals

You know how, as an entrepreneur, it can seem like everyone around you is killing it when it comes to their business goals, and you're left choking on their dust? The bigger problem is that if you're having trouble staying focused on your goals or seeing the success you want you must know that your past is affecting your present and your future. You and I both know that unresolved negative emotions and traumas could be subtly or overtly blocking your ability to move towards and reach your goals. Imagine waking each workday and being completely fired up to crush it again and again, without burnout and with a lot of joy. That's what can happen when you use brain-based neurological tools to reprogram your unconscious mind for success and vitality.


8. Constant Rejection

One of the challenges that entrepreneurs face today and always is constant rejection. This can be in the form of not getting engagement on social media posts, emails and ads, struggling with lead generation, struggling with converting prospects into clients and getting seen and noticed in the large sea of their industry.


As an entrepreneur, your business, what you do is extremely personal as it’s your passion! So it can be extremely difficult to face this constant rejection and not take it personally.


I’ve found that the key to not taking it personally is to not be personally tied to the results and don’t set yourself up for disappointment by setting expectations. Don’t expect to get 100 people engaging on your social media posts and then get disappointed when only 10 people do.


Keep in mind why you post on social media, send emails, etc. What’s the purpose? Typically it’s to help people. So if you’ve helped just one person, you’ve accomplished your purpose for that post or email. Don’t be personally tied to results or create unrealistic expectations. Then you won’t feel the rejection.


9. Burnout caused by Toxic Productivity

Toxic productivity or the idea that you must be busy all the time is a huge challenge for entrepreneurs. Believing that you won’t be successful if you don’t hustle & grind leads to overwork, overwhelm and chronic stress, all of which can cause burnout. A better idea is to focus on the aspects of your business that bring you joy, delegate what doesn’t and prioritize downtime with rest, relaxation and recharging. After all, if it’s not JOYFull, why do it?


10. Relevance

The biggest challenge entrepreneurs face is being and staying relevant. In a world of noise and innovation and with so much competition and the saturation of global markets it’s becoming increasingly more difficult to stay relevant in an ever-changing world. The only way to overcome this challenge is twofold. Firstly to stay relevant you have to stay authentic. The world is no longer satisfied with fake. Secondly, we must keep giving the market that which it wants and desires. To not take anything for granted, to keep evolving and growing in our communication and our offering.

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