By Jashmin Tandukar

Starting your own entrepreneurial venture can lead to unlimited successes followed by freedom and flexibility. The journey can be extremely exciting and adoring. You can be the boss of your own rules and regulations without any supervisory approval. However, becoming an entrepreneur can be prone to several difficulties and dilemmas to deal with, which may lead you to wonder if the decision to start our own business was indeed a right one.

While starting their own business, entrepreneurs are supposed to portray their multidisciplinary roles. A single person may have to realize roles of a salesman, book keeper, operator, hiring officer, marketing executive, manager, etc. By involving themselves in such various functional shoes, entrepreneurs can be deviated from the company’s main goals and objectives, which can adversely affect the company’s growth. The article, “The Many Hats of an Entrepreneur” (Inc’s September 6, 2012) says, “Growing and new business should always be the focus of the entrepreneur because if the business is not growing, it is slowly dying.”

Financial issues are another persistent constraint of any entrepreneur, and it is more of an issue in the developing countries. Though the trend of micro-financing and venture capital are becoming popular, entrepreneurs express doubts in their desirability. They find it difficult to maintain the cash flow to cover their start-up expenses and daily costs. Entrepreneurs should always find ways to manage their cash flow cycles to prevent the declines in sales and profit.

Since entrepreneurs are self-motivated and passionate towards achieving growth and success and meeting all the business demands, they tend to work overtime which can result into mental and physical stress. They might lose their work-life balance and become prone to health-related risks. They might feel that taking some time off from their work might cost them money.

Another issue in the entrepreneurial business is the issue of succession planning. Entrepreneurs control the companies for many years and they might avoid hiring someone as their replacement.

All these issues may be among the entrepreneur’s dilemmas. Hence, are you ready for your roller-coaster ride?