Managing cash flow, time management, and choosing a profitable niche are some of the key challenges entrepreneurs face. Cash flow is important but difficult to manage, and unexpected expenses can arise. It is hard for entrepreneurs to juggle many tasks and priorities with their limited time. Picking the right market niche to focus on involves research but is important for business success. Other challenges include developing marketing strategies, maintaining budgets, hiring employees, dealing with competitors, expanding the business, and lacking confidence during difficulties. Proper planning, budgeting, invoice processing, goal-setting, and delegating tasks can help entrepreneurs address some of these common issues.

1. Presented By- Chandan Kumar Sahoo
Madhab Aryan Nayak
Guided By- Dr. Ashamayee Mishra

2. INTRODUCTION
 The super competitive business world brings many challenges to
entrepreneurs. This is the reason behind the launch of
entrepreneurship programs such as Start-Up India and Make In
India by the government for imparting adequate importance to
business minds for our country’s economic growth. In spite of a
blooming startup ecosystem, it is impossible to ignore the
challenges of entrepreneurship.
 So, In every case, entrepreneurship involves innovating new ideas,
putting them into action and preserving through challenges.
Starting a business is full of exciting challenges and potential
learning opportunities gained from the risks that come with it.
Understanding these unique obstacles may prepare professionals
to handle them if they encounter any as they start a business.

3. Challenges faced by an Entrepreneur
1. Managing the cash flow
2. Time management
3. Choosing a niche
4. Marketing strategy
5. Maintaining a budget
6. Employee hiring process
7. Managing tasks
8. Competitor challenges
9. Advertising your brand
10. Expanding the business
11. Lack of confidence

4. 1. Managing the cash flow
 Cash flow as we all know is an integral part of
all business ventures. However, instances
are not rare when entrepreneurs struggle with
bill payment while waiting for bills to get
cleared. Delayed invoicing is a major trigger of
these challenges of entrepreneurs.
 Cash flow is the backbone of small business
ventures. However, managing smooth cash
flow is a constant struggle and one of the
biggest entrepreneur challenges.

5. 2.Time management
 Time management is another big one amongst
entrepreneur challenges. Especially for business
managers who need to multitask various activities to
get through their work day.
 In business, time is money.
 Due to poor time management, an entrepreneur
usually fail to manage time by not planning ahead,
not setting priorities, not having clear goals and
procrastinating.

6. 3. Choosing a niche
 Choosing a profitable business niche is essential
to taste success. Niching down is an entrepreneur
challenge that needs serious consideration and
time.
 The market that you want to target but
understanding the niches available within the
market but it is all about targeting the most
profitable one
 You increase the risk of your business failing if
there is a disruption to your niche market.
 For example, if a larger company joins the
competition or the good or service you provide
becomes obsolete due to innovation.

7. 4.Marketing strategy
 Entrepreneurs are often unsure about the products
and services they wish to sell. However, it is
imperative to take the right pick which can determine
the ultimate success and failure in a competitive
scenario.
 Targeting the right customers, studying the
competition, preparing a business plan, choosing the
best marketing platforms, etc. is something that
needs to expertise to over come from this problem.
 Great marketing strategies build great businesses.

8. 5.Maintaining a budget
 Because running a company can be unpredictable,
an entrepreneur can stay prepared by carefully
maintaining a budget. They may do this by prioritizing
efficient marketing strategies and allocating the rest
according to their unique needs. Assessing which
expenses are necessary may help entrepreneurs
adjust their funds to better prepare for changes. For
example, they may observe that there is a more
affordable manufacturer they can use and reallocate
those savings to address higher utility costs.
 To get the capital to start or grow your business is
one of the key entrepreneur challenges.

9. 6.Employee hiring process
 Hiring the right employees who add value to the
organization is one of the most dreaded
entrepreneur challenges. Hiring is a lengthy
process. Form posting about the vacancies to
getting resumes, reviewing them, interviewing
and selecting the right candidates, the process is
definitely tough on entrepreneurs.
 Once the screening process is completed,
entrepreneurs need to negotiate on the
salary aspect for retaining those candidates
without bleeding the company’s exchequer.

10. 7.Managing tasks
 Messing up when managing tasks or even while
delegating the is not uncommon to business
managers. Keeping track of tasks, managing
them efficiently to meet schedules is one of the
biggest entrepreneur challenges.
 Create spreadsheets for defining tasks and
subtasks along with their timelines.

11. 8. Competitor challenges
 If you’re in business, having competitors in natural.
 And when you have competitor organizations,
challenges within the market are bound to occur.
Dealing with some of these challenges like keeping
your client list intact, pricing etc gets very challenging.

12. 9.Advertising your brand
 Creating a branding strategy is not just about setting up a
business but also making it reach out to the target
audience. In modern times, this calls for choosing a suitable
social media platform to advertise your brand name.
 However, selecting an appropriate platform may not always
be easy.
• Reaching the right targeted audience.
• Allocating enough budget.
• Scalability.
• Competition.
• Relying on one marketing channel.
• Downplaying the power of emotions.

13. 10.Expanding the business
 After an entrepreneur establishes their business,
they may reach a level of success where they want
to expand. This stage of managing a business
entails many considerations, including figuring out
a way to address greater demand, researching
new partners and reassessing their role in the
company. An entrepreneur may revise existing
processes to better meet the company's needs.
For example, if a consulting firm uses software
built for a smaller client list, they may upgrade to
one that betters suits a wider client base.

14. 11.Lack of confidence
 Nothing kills a business curve as a lack of
confidence. Even the brightest of startup ideas
fail without sufficient confidence. It is easy to
feel discouraged with the constant roadblocks
and challenges.
 Self- doubt can often creep in at such times.
Consider the following solutions when you’re
faced with a similar situation.

15. Solutions to problems faced by
entrepreneur
 Proper planning and budgeting can be of great assistance in maintaining proper
cash flow. These, however, cannot save you at all times from having to stress over
bills. Entrepreneurs can improve their cash flow by demanding a down payment for
services and products provided.
 The down payment demanded should cover all associated expenses apart from
guaranteeing a profit margin. Accelerating the invoice payments process can also
improve the cash flow process.
 The problem regarding time management can be solved by creating a goal list
broken down into annual, monthly and even weekly objectives. Tasks which do not
sync with your goals need to be eliminated while the ones which do not require the
interference of the entrepreneur can be delegated.

16. Conclusion
 An entrepreneur is one who plays significant role in the economic development of
a country. Basically an entrepreneur can be regarded as a person who has the
initiative, skill and motivation to set up a business or an enterprise of his own and
who always looks for high achievement. The most important challenges faced by
new entrepreneurs include Developing the Vision and Business Idea, Raising Capital
for Startup, Assembling a Business Team, Finding the Right Business Location,
Finding Good Employees, Finding Good Customers, Dealing with competition,
Unforeseen Business Challenges and Expenses, Keeping Up With Industrial Changes
and Trends, lack of support, negative mindset, lack of marketing facilities, lack of
infrastructural facilities etc. So it is necessary to overcome these challenges in
order to conduct an efficient business.
 Final words: Challenges are the first step to success. Entrepreneur challenges help
in building their learning curves. Constant perseverance, smart planning, and
teamwork can help you get through the most challenging situations.

18. THANK YOU