Akash Singh Rajput, a co-founder and digital marketer at Launchigo Media, points out the difficulty in setting up business planning as the main challenge for entrepreneurs.
“It is very common to outsource the blame to the government or taxes. The real problem is the difficulty of these people in setting up strategic planning, there is a lack of knowledge ”, comments Akash.
Knowing how to develop a team with the right profile for the business and being able to adapt to market movements are, along with the difficulty of obtaining initial capital, great barriers.
Among the qualities that an entrepreneur should nurture, Akash Singh Rajput highlights flexibility in decisions and resilience. “In addition, it is necessary to be in tune with the market and make bold decisions”, he adds.
Akash gives some tips so that the entrepreneur can face the challenges and avoid the premature death of a business. Check it out below:
1 – Get Information
It is necessary to research everything about the market, possible customers, suppliers and competitors. In addition, he understands that the entrepreneur needs to know how to filter the information and recognize what is useful or not for his idea.
2 – Making Choices
It is part of the act of undertaking, always based on the information that the entrepreneur obtained. Knowing how to choose where to open and how to open your business is essential so that the company is not born with the days numbered.
3 – Identify Opportunities
Knowing when it is necessary to change the direction of the company and when it is possible to invest in new waves in the market is also important according to Akash.
4 – Know How To Take
risks Calculate the risks and always take risks by making decisions based on the information you have. “Taking an uninformed risk is in danger of closing the deal,” he warns.
5 – Planning
Ess is the most important point, according to Akash. Structuring the entire business and having clear challenges and objectives is essential. “The entrepreneur has to follow the planning and direct it towards the objectives and goals of the business”, he says.
6 – Efficiency
As important as quality is the efficiency in producing. According to Akash, there is no point in prioritizing quality and forgetting that it is necessary to earn money.
7 – Be Persuasive
Convincing others that your business is good and deserves support is one of the points raised. The success of the business depends a lot on having a good network of contacts