Which Entrepreneur Is Your Favorite?
As a growing number of entrepreneurs are entering the workplace, they’re facing some significant challenges in the workplace.
According to the latest American Career Outlook Survey, nearly 40 percent of US-based entrepreneurs said they faced barriers in their career advancement, and more than 60 percent said they experienced at least one barrier during their career.
This is due to several factors, including:• Employers are increasingly demanding of employees who work remotely or in small teams• Companies are increasingly focusing on performance metrics such as sales and profits, rather than on the quality of the product• Employees are becoming more and more reliant on technology, including smartphones, tablets and other mobile devicesThe challenges facing the majority of new entrepreneurs are more tangible than financial, but they also have a wider impact on our society.
In an attempt to shed light on what’s happening to the startup industry, we surveyed our community of nearly 10,000 entrepreneurs to see what they’re experiencing right now.
Here are the top 10 stories that caught our attention and helped shape our views:1.
Being an entrepreneur is not easy.
Most entrepreneurs struggle with finding funding, securing the skills and resources they need to be successful, and maintaining their personal finances.
However, the challenges are not unique to the workplace; nearly 70 percent of American entrepreneurs said their biggest obstacle was the cost of living in their home state.2.
You have to be in the right place at the right time.
Most new entrepreneurs say they are more motivated to get started because they are in the best place at their job.
Nearly two-thirds of all new entrepreneurs surveyed said that they have an ideal location in which to start their business, while one-quarter of all entrepreneurs surveyed reported that they are always the first to call for a job.3.
You are more likely to fail if you are the type of person who has an idea.
Nearly one-third of all founders surveyed said they were more likely than their peers to fail.
This suggests that entrepreneurs who have an idea are more resilient and able to succeed.4.
You will be judged on your achievements rather than your talent.
Almost half of all startups surveyed said the most important part of being an entrepreneur was being an individual with an idea, and nearly one-fifth said the other part of the equation was being a good leader.
This may explain why entrepreneurs are less likely to seek outside help or leadership.5.
Your startup is not only a business, it is a community.
More than one-fourth of new founders surveyed reported they felt like their startup was a part of a community, and many said their startup community was important to them.
Nearly one-in-ten entrepreneurs said that a lot of times, people in the company had a positive impact on them and their company.6.
You need a strong team.
Almost one-sixth of all respondents said that the biggest challenge of starting a business is managing the team and maintaining relationships.
Almost a third said that managing your team can be the most difficult part of starting your own business, and almost one-half of all survey respondents reported that being on a team can make the difference between success and failure.7.
Your company has a bigger purpose than just a business.
Over a quarter of all surveyed respondents said they found the idea they were creating to be of some value to others.
This also implies that entrepreneurs are passionate about the project they’re building.8.
You’ll need a team.
Over half of the founders surveyed (53 percent) said that having a team is important to being successful.
Nearly half of them said that their company was not only about making a profit, but also about fostering an environment where everyone is working together.9.
You may have to find a niche.
More entrepreneurs than ever are choosing to enter the workplace in an attempt be a part a broader community, including social media, online shopping and more.
This can be a challenging decision, especially when you are an entrepreneur who has been in the business for a while.
However; more than two-fifths of respondents said the biggest advantage of becoming an entrepreneur in the US is that the workplace offers a broader set of opportunities to pursue new ideas.10.
You might be able to do it, but only if you’re willing to give it a shot.
More of us than ever have the potential to make a difference in our communities, communities and our nation, but if we don’t get the help we need to take the next step, we will not be able see our ideas and talents come to fruition.