3 major problems around ENTREPRENEURSHIP.

When I started my business I started it without actually getting experience in accounting firms or proper accounting department from in a big company. I started my company a student and with only the knowledge I had from Varsity and only small experience in the workplace.

I only had a vision of becoming one of the best in the world when it comes to the accounting field, I had no clue on how I was going to do this and achieve it. I had a dream of becoming the best in Small Business development and assisting small businesses in managing their finances and assisting them to grow through financial management trainings. I applied my faith and I registered my company and called it SMartins Agencies, I had no money, I only had a week left in my old job so I needed to make money to be able to support my kid, pay my rent and live normally.

Things did not go well for quite some time, my bank was in arrears and I was only working with cash when someone wants me to do something for them. I operated from November, December and January without signing any client for my company and it was really tough. I signed my first client in February and I was so relieved as I knew that the clients money would cover for my rent and I continued to grow.

As I was operating my business I encountered these few problems and seeing the problems that I have made and looking for possible solutions. These are the few problems I encountered:

• CAPITAL

Starting a business without capital is very difficult, it makes your business to take a lot of time for it to grow because every cent you make you either have to pay rent, buy food, cosmetics or buy electricity leaving your business stagnant. 

• FUNDING

Funding plays a vital role in a small business owner's life and business, a lot of people start their businesses because they attended exhibitions about small businesses and they get impressed when hearing about what agencies like, NYDA, DTI, SEDA and so on can offer, but what they dont tell you in these agencies is the timeframe for getting these services. Getting money from some of them can take up to 3-6 months after you have submitted and signed all the necessary documents. Now that kills entrepreneurs.

• MENTOR-SHIP

Everyone needs someone who is going to monitor their progress and advice where necessary. Black businesses fail a lot because no one wants to help the other, now this is a big problem, what I have noticed is that small business owners have PRIDE and that is why they fail a lot.

• CONNECTIONS

People associate connections with bad things like bribing a person to get business, and so on but it’s not the case, connections make life easy, if you operating your business and you are alone, it will take you 10 x harder than it would be if you had connections. Connections are made at the many summits you attend as an entrepreneur, the networking meetings, social media and others in professional networks like LinkedIn.

Often times people start their businesses with the hope of making a living and having a good time because of not having a boss and stuff, but there is one thing that we do not realize when we start our businesses, that business takes time and it needs a lot of hard work. Many people start their businesses with only an IDEA and with the hope of making easy money, but it does not work like that. 

Entrepreneurs, be patient business is not a money making scheme, It’s doing what you love and excelling In it.

Please share! :)