Opening a business at such a young age may seem very impressive. Moreover, you can also start your business passion faster. However, it is undeniable that even young entrepreneurs will face their own challenges. So, what are the challenges that are often faced by the younger generation who are opening businesses? Let’s find out through the following description!

 

1. Collecting capital

Not a few young entrepreneurs who have difficulty raising capital. Especially for those who decide to make their business their main source of income. If you are one of them, of course you have to be very wise in managing your finances. Make sure any funds spent are used for crucial purposes. In addition, you who are already a Cashlez Merchant can also have the opportunity to apply for business funding through Koinworks.

 

2. Considered inexperienced

As previously explained, opening a business at a young age does look impressive. However, you also have to be prepared to deal with assumptions about young entrepreneurs. You see, some people still think that the younger generation who run businesses tend to be inexperienced or lazy because of work. In fact, you certainly have a commitment and try hard to develop your business, right? For that, stay professional and show that the assumption is completely wrong.

 

3. Delf-doubt feeling

Another challenge that is often felt by business actors from the millennial circle is the emergence of a sense of stress and self-doubt. You see, you have to carefully consider the decisions you take because they will directly affect your business. Of course, you shouldn’t accept it as it is, but rather need to control yourself to stay calm and fit by exercising regularly.

 

4. Recruiting staff for the first time

When your business has grown and you are no longer able to do everything alone, of course you have to hire people who are experienced and can help you. Now, for young entrepreneurs, this can also be challenging because you have to determine which of the job applicants has the most appropriate qualifications for what you need.

 

[Also read: Millennials Running Handmade Business ? Why Not!]

 

5. Not getting support from your family and friends

It’s possible that your decision to open a business when you were young did not get support from family and friends. This is because there are differences of opinion between you and the people around you. Especially if after starting a business you have a solid routine so that the intensity to meet with the closest people is reduced. This is not easy, but you are not alone. Many other millennial entrepreneurs have also experienced this. So, make sure to stay positive and do your best!

 

6. Dealing with criticism

Has anyone else told you that your business will fail? Not only that, they also advise you to find another job that can generate a stable income. Criticism like this is certainly very annoying, right? However, don’t focus on him! It’s best if you don’t waste your time responding to things like this, but stay focused on carrying out the plans you’ve prepared.

 

Whoever you are and whatever type of business you run, business challenges will always be there. So, don’t give up easily and take this challenge as an opportunity to learn and increase your knowledge!

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