5 Hindrances Entrepreneurs Need To Overcome To Succeed Yogesh Chabria says every individual is an entrepreneur in their own way and can combat any challenge.
By Aashika Jain •
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Yogesh Chabria, the founder of The Happionaire Way, believes passion can turn any business grow and succeed.
The author of six books including the Happionaire Series, Chabria started selling at a very young age.
Through his venture, he has worked with organizations worldwide to help them accelerate sales and profits, multiplying efficiency and bringing in a culture of happiness through detailed strategies and training programs that influence the mind.
This entrepreneur who doesn't like to be categorized as a motivational says every individual is an entrepreneur in their own way and can combat any challenge. The 5 challenges every entrepreneur can combat according to Chabria are the below.
- Clarity of Goals
For example I start a company, I always ask – why am I starting a company. Along the way, if we are looking only at money, we get confused. For example, today if Artificial Intelligence is getting more funding, I start an Artificial Intelligence venture. If tomorrow, robotics is getting more funding, I move to robotics.
A lot of individuals start companies without clear goals. That leads to failure. If we have clarity as entrepreneurs I need to think, what are my goals is what you need to ask.
- Clear Plan in Place
Plans don't have be very complicated. A lot of people start out without a plan. Write down a plan and the plan can change along the way. Once you have a goal, once you have a plan, the next thing you need to do is find out what skills you have.
- Develop Your Product
Developing your product or service with the right skills is what will help you stand out among a bunch of developing entrepreneurs.
- Marketing
You have a great product, but if you don't have great marketing, it's meaningless. I have written 6 books, everyone calls them bestselling. No one says they are well written.
If businesses invest in sales and marketing and branding, it becomes an asset. That way you can differentiate from competition, you can charge a premium.
- Look For Profits In the Beginning
A lot of people don't look at profits and only concentrate on profits. Lots of companies today are busy getting customers without looking at their profit; it just doesn't make business sense.
So instead of building a business for investors, you should build your business for profits. So tomorrow your business will be driven by profits.
