It's said that at least 75% of enterprises in the world fail. Currently many people decide to take the "entrepreneur" route and to become businessmen that way, however, only a few achieve "financial success".
There are many variables that affect this performance and based on my past experience during 2018-2020 between the cities of Miami and Santiago de Chile, in this article I want to address the most common limitations in project management:
- "Copying and pasting" someone else's project.
- Approaching the business idea empirically.
- A lack of goal setting and planning on how to achieve them.
- Making business decisions based on unclear expectations.
- Making products or services without distinguishing features.
- Deficient target identification, of either clients or users.
- Technological distance for and by the business.
- Little to no financial strategy.
- Not pilot testing before incurring in big investments.
Today's entrepreneur is a restless person, who cares about evolving and improving, however, facing such an aggressive and competitive market, being successful is much more complicated. Due to this, quick or practical shortcuts will only show the risk and vulnerability to which they're exposed, enterprising requires quantitative and qualitative analysis to become part of the 25% that successfully sustain their enterprise.
Let's see: 8 of the personal challenges entrepreneurs must face from their ability to "be in charge":
1.- Nullifying the entrepreneur's omnipotent feeling.
2.- Engaging in continuous learning, since they should set aside the influence of empirical knowledge and educate themselves more on subjects relevant to the business and themselves.
3- Expanding their knowledge of the environment and the context which they want to influence, what's happening in that market? How can I collaborate? What makes me relevant?
4.- Conceptual and strategic thinking for decision making over various discussions with your environment, just believing in your opinion is a huge risk.
5.- Increasing contemplation of past mistakes from one's own experience.
6.- Incorporating new social media to widen perspectives.
7.- Learning to ask for help when necessary.
8.- Administrating time with great efficiency.
If you manage to dominate these 8 personal situations you will be closer to being productive and efficient in your project, as a prelude to achieving the success you're visualizing with specific and verifiable steps.
When we asked at the beginning of this article "Enterprising over past schemes or future consumer models? ” We couldn't answer it without the necessary context, and highlighting the latent worries of entrepreneurs.
Now let's analyze together the present and near future of entrepreneurship.
Businesses and their purposes are on a powerful turning point that can sometimes warp what we've learned in the past, maybe our experiences can't outline an effective route for the future of businesses.
The greatest sin of all entrepreneurs is to keep generating products that are already on the market with other brands, betting on unsustainable consumer models, trying to grow a niche that no longer exists or that's being discontinued. Where is our consumer society headed? What do the new types of consumers demand?
It's enough to dedicate a few hours on the Internet and search for different reports that offer an approximation of what's to come, of emerging trends that will probably mark the route of years to come on a world that's changing, hyperconnected and saturated, that looks for relief through a circular economy and sustainability. Over increasingly authentic brands with more human purposes.
Well then, what are your answers to:
1.- Is your enterprise a dying project?
2.- Are you prepared to surf the future of consumption?
I hope I was able to provide you and your project with some insight on the difficult task that's entrepreneurship, and with it some motivation to empower yourself to make your path brilliant and certain.
Contact information:
LinkedIn: https://www.linkedin.com/in/danelli-jiménez-alvis/
Instagram: @kairoscoach and @danellijimenez; WhatsApp +56 9 3744 8131.
Organizational Development Consultant and learning facilitator. I carry forward the mission to create and foster consciousness in society, where we all play a leading role, either as businessmen, entrepreneurs, professionals and people compromised with sustainable development. Author of the book: Sentido al Liderazgo.
