Reality and Ambition of Entrepreneurship in Startup Companies

Posted on Oct 08, 2021 at 02:10 PM

About 14,56% of startup companies in Europe didn't last more than five years, this indicates that the success of a startup company isn't that easy according to what is common. These companies are known in the early stages of their development, founded by a pioneer or entrepreneur.

An entrepreneur is someone who starts to manage a specific project to seize opportunities and how to deal with obstacles.

Introducing entrepreneurs of some difficulties help them to avoid losses resulted from starting a project that they are unable to establish and prepares them to be more serious to establish their startup company. There will be many constraints; internal, represented by weaknesses in the entrepreneur, and external ones, found in the external environment of the entrepreneur, they include:

Internal constraints:

1- Blaming others: When the entrepreneur blames people or things, this weakens him and puts him in an atmosphere of negativity. Hence, he will not be able to make decisions. Successful entrepreneurs only blame themselves, and thus they gain the respect of the people for taking their own responsibility, and influence people greater.

2- Closed mentality: These individuals believe they were born with all the skills they can get and see no point in trying to improve their abilities, and they prefer to continue using old methods. Open-mindedness means dealing with change, remaining open to new ideas, and not being afraid of failures. In order to develop his work and observe himself, he must determine what aspects require an open mentality, and this must be accomplished continuously by working hard.

3- Complacency: It is difficult to change routines, and the more responsibility a person has for other people, the more difficult it is to change the routine, and staying in the same place unchanged, is an obstacle to growth. Growth and development require a willingness to take advantage of opportunities and accept challenges that encourage progress.

4- Avoid learning: When the entrepreneur focuses on work without pursuing new ones limits important innovations, hinders the discovery of opportunities, and turns work overtime into routine work while learning about technology and modern trends expands his improvement. Taking leadership training courses in Dubai helps the entrepreneur to develop his company.

5- Unawareness of the reason for establishing the project: The entrepreneur will be hesitant to confront difficulties if he does not find a strong reason to start his own project, and this will absolutely lead to stop the project. It is important for him to always remember the reason and support the motivation to be able to face other obstacles with greater determination.

External constraints 

1- A corrupt and unsupportive business environment: Weak government policies regarding the business environment and the spread of corruption are an obstacle to entrepreneurship. Government policies hinder new companies to enter the market, such as government policies.

2-Human Resources: People working on a project are the major reason for its success and failure. It is difficult for the entrepreneur to do all the work required on his own, and therefore the entrepreneur should improve the delegation of the works to the right people, focus to do what he is good at, and improve the management and selection of human resources, and observe the government laws related to them

3- Negative criticism: Many people, even the closest, try to convince an entrepreneur to quit entrepreneurship and look for a suitable job because they see that entrepreneurship is high-risk. 
Facing the negative effects of negative criticism is by having an emotional intelligence to control the anger that accompanies the criticism, and interprets the criticism as a motive for progress rather than regression. 

4- Dealing with the unknown: The entrepreneur has long-term plans and unknown factors that are vague despite their influence on the start-up project. He should be calm, focus in order to deal with this ambiguity and implementing the daily tasks.

5- Finance: Self-financing is not that useful for these kinds of projects. In this case, the entrepreneur has to convince investors of the business plan and presentations. The entrepreneur should build a great relationship with the investors to avoid the weak environment of meeting entrepreneurs and investors and the difficulty of getting a suitable fund.  

Conclusion:

Entrepreneurship is considered dealing with the obstacles that face the start-up project. It is not that easy for the entrepreneur to face obstacles, and this requires certain specifications in order to provide solutions to the problems he might face.

We have mentioned previously that obstacles are internal, and they exist in the entrepreneur himself. Also, there are external obstacles which are the difficulties facing the entrepreneur. We noticed that, if the entrepreneur overcomes the internal constraints, he will be absolutely able to overcome the external ones. 

As it is known "If you want to change the world, start with yourself".

If you’re drawn to the world of entrepreneurship, we recommend that you join our entrepreneurship and leadership skills training course.