Founding a company is difficult enough when you have a partner or a group helping you. Founding a company on your own is even more difficult. It takes guts, determination, and discipline. The final outcome, though, will be entirely your creation. The rewards are great, but the challenges are, too. What can you expect to face as a solo entrepreneur?
The biggest challenge of any solo founder lies in fundraising. It’s incredibly difficult for one person to run a company alone from the beginning, and this can make investors more cautious. The onus is on the entrepreneur to prove that he or she can really do it all by themselves. Fundraising as a lone entrepreneur will take a lot of persistence, but if you stick to it you can make it happen. Another big challenge is the sheer amount of time you’ll have to pour into your business. At the beginning, you’ll be doing everything for your business. You’ll be sales, marketing, and customer support. If you hope to make it through this part of founding a business, you’ll need to be very disciplined. It helps to give yourself a daily schedule and stick to it rigorously. Finally, once your business is off the ground, you’ll have to recruit the best possible team to keep it growing. This also takes patience, and you’ll likely make mistakes and have to let people go. Those are just the growing pains of a small business, though!
Read the full article here: The 3 Biggest Challenges of Being a Solo Entrepreneur