04 March,2021 06:28 PM IST | Mumbai | Partnered Content
Parwinder Singh aka ProSingh
Building a new business from the ground is undoubtedly a very difficult task. It brings up a unique set of problems and challenges to deal with which the experienced entrepreneurs might not have to face. If entrepreneurs consider and deal with these challenges effectively, then, they will surely be able to develop some effective strategies and follow the path of success.
Parwinder Singh also known as ProSingh is an Indian Teenage Entrepreneur who started his startup at the age of 16, and grew it from scratch without any support or investment.Today he talks about the challenges that are commonly faced by budding entrepreneurs who are aiming to run a successful business :
Entrepreneur ProSingh talks about how the experienced entrepreneurs may call the budding ones âuneducated' or âirresponsible' and may not take their opinions seriously. Some of the experienced businessmen may doubt the credibility of the businesses of budding counterparts. This should not be taken too seriously and professional behavior should be maintained at all times. "The reputation and trust of the experienced entrepreneurs can be earned only through persistent efforts", says entrepreneur ProSingh.
A major challenge that every entrepreneur has to face during the start of their business is to get adequate funding. Experienced entrepreneurs have been in the market for a long time and have earned good credit which makes it easier for them to find investors. ProSingh mentions that as a young entrepreneur, one does not have the appropriate resources and may have to pay through their pocket. The process of network development takes time and requires constant effort. Since, initially, the funds are limited, making a profit takes up a lot of time. ProSingh advises budding entrepreneurs to have patience as it can take up to two or more years to make an adequate amount of money.
For every entrepreneur, this is a challenge as they will be constantly reminded about the thousand ways their business will fail. "They will be advised to take up a more tenuous and stable job as it might reduce the chances of being unsuccessful says", Entrepreneur ProSingh. Though, in the case of the new entrepreneurs, this affects them more as they may not know how to handle it. The critics can also get personal at times as they can get jealous of the independence and confidence of others but the people who want to succeed in the field of entrepreneurship should learn how to avoid and ignore unnecessary criticism.
Starting a new business at a very high stake often comes with high-stress levels. During such situations, regular meditation and exercise might help as they are healthy for the body as well as the mind. Entrepreneur ProSingh talks about how proper relaxation of the body, as well as the mind, is very important when entrepreneurs are under pressure. If at times, the discouragement is high, listening to motivational quotes and reading self-love novels may also help.
Connect with ProSingh on Instagram - @realprosingh or visit his website at https://www.prosingh.com
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