5 Common Challenges Most Successful Entrepreneurs Face

Most successful entrepreneurs can attribute what they’ve accomplished to a strong desire and a laser like focus on the goals they’ve set! This is NOT to say that you won’t have challenges to overcome as you pursue your entrepreneurial dreams but rather that with persistence and a keen focus you can be successful as well! The key to your success will be found primarily in how well you maintain a healthy balance in your life, which will be essential, especially because you will be mostly working by yourself! Nobody to share your daily ups and downs with or to get feedback or opinions from can make your existence a lonely one and this can easily lead to some very common pitfalls you MUST avoid!

Following are 5 common obstacles entrepreneurs must be mindful of, especially when working by yourself, if you want to reach your goals!

Negative Thinking

One of the biggest challenges to overcome when working by yourself is negative thinking which occurs when you begin to doubt your abilities or what you’re doing! Without others around to lend encouragement or advice it is extremely easy to become frustrated and the longer you remain so, the more ‘negative self-talk’ or thinking you’re likely to do! Simply having others around who can offer different perspectives or insights helps keep you better balanced and not as likely to take on a perspective of doom and gloom!

Unrealistic Goals

Possessing lots of ambition is typical of any aspiring entrepreneur HOWEVER do not allow your strong drive to make less than realistic decisions! Although ambition is great to have, it can also lead to you ‘overestimating’ your resources and/or abilities when establishing your goals! You MUST be realistic when goal setting otherwise you are literally setting yourself up for failure! On the other hand having available to you the objective opinions of others will help keep your goals attainable and your efforts more effective!

Take Action

For many, it can be very difficult to STOP the ‘learning process’ and simply take action especially since the internet is a 24/7 incubator for new information! We’ve all heard of analysis paralysis which typically results from information overload and when working by yourself it becomes more difficult to recognize you’re caught up in this cycle! Learning is great and absolutely encouraged however if this knowledge is NOT put to use, what is the sense? Remember, nothing gets done until you take action!

When to Say When

Although having a strong work ethic is admirable, it is also critical to take the time to step away from your work! Being self-employed can be a very liberating feeling however without the proper balance in your life, your work can completely consume you! Recognize you’re only human and therefore subject to fatigue so it’s important to take breaks and to learn NOT to constantly be burning the midnight candle! Fatigue is a breeding ground for judgment lapses and other ‘types’ of errors which require additional effort just to correct! As a solo-preneur, do you really want to create MORE work for yourself thereby delaying your achievements? Of course not, so if you’re tired just step away until such time that you are properly rested, less distracted and ready to produce without making errors!

All Work and No Play…

Above we’ve spoken about taking regularly scheduled breaks from your daily work schedule but what about taking an extended leave? Spending time away enjoying family, friends, traveling or various outdoor activities is your WHY when it comes to the reason you’ve become an ‘independent’ business-person! When working by yourself it’s easy to become consumed by what you do therefore you DO need some balance in your life that reminds you why you work so hard and rewards you for doing so! Think in terms of what is more important to you, your work or your life!

Knowing most successful entrepreneurs have had the same challenges to overcome as you do serves as proof that your own goals can also be achieved! Perhaps the most difficult aspect of being an entrepreneur is that you are mostly working by yourself with no outside support or encouragement! For the reason alone it is critical for you as an entrepreneur to maintain a healthy balance in your life while in pursuit of your business goals! This will help you keep things in perspective, avoid burnout and of course, make the best decisions possible concerning your professional or personal interests! Simply be more mindful of those challenges of which we spoke of above so that they don’t overwhelm you!

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