6 Key Challenges Every Entrepreneur Faces
If you are or you know an entrepreneur, you know it’s a tough gig. We’ve put together the top six obstacles that entrepreneurs face today, perhaps some of them resonate with you? Read on to find out how to overcome them.
You have your business idea in place and you’ve done the preliminary work, but you don’t know what to do next to launch.
So you’ve had a great idea. You see a hole in the market that you could fill with your business idea and there is an impact you want to have in the world. You make some phone calls, you build your website and draw up a plan; so what next? You’re ready to launch but you don’t know where to start.
You don’t know where to go for funding or investment, or even how to ask for it.
The gap between entrepreneurs and capital is wide, even wider if you’re looking to engage with impact investors. How do you make sure your financial modelling is fool proof? And how do you pitch to investors once you’ve got hold of them?
You feel like you need support and validation of your work so far.
You’ve been working hard on your business for a while now, but you don’t have access to experts who can validate your progress. How do you know you’ve got your prioritising right? And is your business even viable in its current state? You really need a sounding board for your thoughts and ideas.
You need a blueprint to scale but don’t know how to put one together.
Your business has been doing well and you want to grow. But which aspect of your business do you scale first? Can you achieve scale?
You feel isolated as an entrepreneur and as though you lack community.
Being a founder and an entrepreneur can be a lonely profession. Spending hours in your home office making decisions and planning alone without a sounding board is extremely isolating. Many entrepreneurs say they need community, and many co-working spaces were born from this desire. How do you get out of your own bubble?
You want a greater understanding of your customers and why they would choose you over a competitor.
You have a unique business idea, but you’re not free from competitors. So who are your customers? Why are they interested in your business and what it has to offer? Why are they going to choose you?
The Difference Incubator’s accelerator program, Two Feet, is looking for brilliant entrepreneurs in Melbourne, Sydney and Brisbane, to take part in this year’s program. The program helps entrepreneurs and businesses, no matter their age or stage of growth, to overcome these challenges.
The six month program with fortnightly sessions seek to guide entrepreneurs through the minefield that is the social sector, to capacity build enterprises who want to do good and make money. Learn how to model your financials, how to pitch to investors and how to scale. Discover who your customers are and what your value proposition to them is. Dive deeper into your intent and work alongside a cohort of other like-minded entrepreneurs, learning from presenters who are founders and impact investors themselves. Learn how to stand on your own Two Feet.
To make the program more accessible to all entrepreneurs, NAB Australia have subsidised every place in the program.
Learn about the program and expressions your interest at tdi.org.au/two-feet
Or get in touch with the program leads at firstname.lastname@example.org