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Problems Of Every Entrepreneur, By Bjorn “Beez” Hendricks

Bjorn “Beez” Hendricks, founder of the Business Builder Institute, shares some of the problems that plague every entrepreneurial journey.

Entrepreneurship is a choice of courage and valour. It involves risks, but the profits are far greater once you put your mind and soul into building your business from scratch. This includes uncertainties of success, revenue, profits, etc. where educators like Bjorn Hendricks come into the play. Bjorn is also known as Business Builder Beez has created multiple businesses including an institute that helps other entrepreneurs to level up their ideas through a clear road map.

Beez’s business aims to find solutions for every issue that arises for entrepreneurs. His public speaking sessions are inspirational, educational, and motivational. His idea is to place a robust system, devise a plan, and create multiple autonomous businesses which allow the entrepreneur to be a true business owner instead of self employed. He has implemented the methodology with all his business ventures and scaled them to 7 figures. 2020 made Beez realize that he has to help others who are suffering because potential is often suppressed without any direction. He comes from a background as a Management Strategy Consultant in Accenture and Microsoft and that has led him to help others to achieve success too. He shares the most common problems that every entrepreneur will face while pursuing their ideas.

Financial Risk

A business needs funds to operate. This can be acquired through personal savings, loans, or investors. However, it is not that easy to accumulate funds for all businesses. An entrepreneur needs to create a comprehensive plan for the vision and mission of the business and present it in the pitch deck.

Beez is a strong advocate of financial literacy and the flexibility that it gives in life and business. Without financial knowledge, staying afloat in the progressive society will be exhaustive and the business will suffer due to reckless decisions.

Technological Risk

Technology is emerging at a fast pace and bringing drastic changes in every industry. The fourth-generation changes are disruptive and lead to shifts in the traditional way of operating. Such new avenues can drain out the funds of the business as you try to update the systems for the new era.

However, the solution is to embrace the technology and always stay one step ahead by speculating changes and keeping a contingency budget for such uncertainties. So, now you have a plan to fall back on, and your business is more dynamic.

Competitive Risk

Competition is inevitable in the saturated market. Your idea can be indigenous, but if there are zero competitors in the market, you should assess the demand for your product again. If the competition is too much, then succeeding is tentative.

Beez recommends entrepreneurs also keep a check on their intellectual property and protect it from scammers. Bjorn’s motivation comes from his kids and their desire for a life of freedom. He wants to help business owners to reclaim their time to become self-owners instead of self-employed. To explore the gold mine of knowledge, visit his website.

 

I am an avid traveler and loves writing. I love writing about beauty and fashion. When I am not traveling or writing, you'll find me modeling.

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