9 Obstacles Every Entrepreneur Will Face With Their Startup
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 6 April 2021
⏱️ 18 minutes
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Summary
In this video Patrick Bet-David breaks down the 9 obstacles all entrepreneurs will face when starting a business. Watch the full video here: https://youtu.be/9yE9rSh9Jek
Transcript
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| 0:00.0 | So, so you have two entrepreneurs that begin at the same exact time and the same exact industry, |
| 0:03.8 | two of them, right? They start growing their businesses. If you notice, they're growing up |
| 0:07.8 | at the same time, but then there comes the wall that they hit. The obstacle that they had noticed |
| 0:12.4 | the first one has a massive drop off. The second one doesn't, and it goes bigger. And the |
| 0:17.6 | distance between them gets wider and wider and wider. So, why is that? It's because one of them |
| 0:22.8 | knew how to handle the obstacle they faced when they hit a wall. The other one didn't. Today, |
| 0:26.8 | we're going to talk about nine obstacle you will face as an entrepreneur. |
| 0:34.8 | So, make sure to stick around to the very end because I'm going to give you PDF on today's |
| 0:37.6 | message. So, let's get right into it. Number one, creativity. When your business starts growing |
| 0:42.4 | and you get to a point where you become stale, everything's the same. You're no longer growing. |
| 0:47.6 | Sometimes like, why are we not growing? One of the factors could be there's no more creative, |
| 0:52.1 | innovative campaigns, creative strategies, next marketing campaign that comes out. It's just |
| 0:57.6 | business as usual. And when there's lack of creativity, there's boredom. When there's boredom, |
| 1:01.7 | people start looking all over the place. You lose customers. You lose employees. You lose agents. |
| 1:05.8 | You lose salespeople. So, you got to get creative. Second obstacle you're going to face as |
| 1:09.1 | resources as far as money. Now, what do you mean by the obstacle I'm going to face as money? |
| 1:14.0 | Look at the two guys or the two guys that are going as entrepreneurs. When you hit a wall, |
| 1:18.8 | one has the money to invest back into the business in an area to help accelerate or solve the problem. |
| 1:25.5 | The other one's been spending all the money or taking too much income out. They don't have it. |
| 1:29.7 | They lose momentum. Resources is another obstacle you're going to face and many different things. |
| 1:34.8 | You may have an opportunity to buy technology. You may have an opportunity to expand and get a new |
| 1:38.9 | C-suite executive that's going to bring the set of talents and skill that's going to grow your |
... |
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