4 problems every entrepreneur faces and how to overcome them

Every problem you can face as an entrepreneur falls in this four categories:

 - Overthinking the tech and tools needed to build your product

 - Inability to stimulate interest in their product - often due to lack of clarity in copywriting, 

 - Zero online audience

 - Don’t understand the market - so they don’t understand the customers problem.

As you have already noticed, I didn’t add money to the problems…thats because often times, money is an exchange for value…and nobody will give you money if they can’t capture value from you - and the reason they are unable to capture value from you goes all the way back up to the 4 problems I just listed above.

Today, I want to shine light on how you can overcome these four problems and help you run through the wall in front of you.

1. Overthinking the tech stack - Nobody cares that your app or website was built using the very latest tech stack. In fact, if you are able to guarantee an optimal and very standard level of security, you are 90% there. You don’t need the latest tech stack, people want solutions and if a Google form solves their problems, they’ll pick you ten times over someone who uses a shiny tool built with web 3 languages that can’t help them meet their needs. Entrepreneurs get caught over thinking the tech stack. Drop the thoughts, build with Wordpress or other no code tools. For mobile apps, tools like Adalo and Bubble can do the trick. The most important take away here is that your software does not need to be built on the latest technology to guarantee your success in business. 

2. Inability to stimulate interest in your product - closing the deal and gating paid is just 20% of the sales process.We’ll find time to talk about the 5 stages of closing sales which are: stimulating interest, transitioning interest, pushing a vision, scaling your vision and getting everyone involved in the sales process. So if you can’t even get stage 1 sorted, which is stimulating interest in your product, you won’t close sales. Stimulating interest involves proper clarity in your value add, clarity in your copywriting, an offer people can’t reject, A/B testing if you are running ads…we could go on an on.

3. Number 3 problem an entrepreneur faces is they’ve failed to build an online audience. Even if your business is very physical, having an army of online evangelists who keeps the conversation going in the corners of the internet will bring valuable credibility to you. As we’ve always stressed at Hala, don’t build in isolation and hope to shock everyone with your product launch. Build an audience by getting loud on social media and keep your audience engaged through conversations, giveaways, contests, discounts, product update info, seminars and more. 

4. Lastly, you need to understand your market. A major problem for entrepreneurs is that they don’t understand their market. I know you have grand vision to build a world changing business, but take out the time to research the market properly. Don’t hit the market with a half baked product - people will move on to other options and never look back because first impression matters. I say this carefully because it is equally damaging to have a perfectionist mindset, you want to wait till everything is perfect before launching your product. Don’t do this either. What you want to do is to first build your audience then walk them through the stages of your development, you can then release a version of your service which isn’t fully functional but people know what is working and what changes to expect in future - within a given timeframe. An easy way to understand your market is to be involved in it. If you are passionate about education and have been involved in education for a long time, build a product in that area rather than starting a business in carpentry just because you heard thats where the money is.

Thanks for joining me today. 

THE END

At Hala, we believe that consistency is greater than intensity. Thats why we are building  our community around the principles of improving with just 1% daily; which  compounds overtime into something remarkable. Hala is going to be a fine blend of creatives, experienced doers, starters and dreamers. We are founded on the strong belief that ultimately, we hold a duty of care to others in need. We want to balance access to opportunities regardless of colour, background, faith or income level. We value Integrity and highly regard dignity of labour within the Hala community. As a community, our success is measured by how many dreams are achieved, those broad fulfilling smiles when help arrives and how well we are able to impact humanity. These principles are consistent with Bible teachings where we draw our faith and inspiration from. You are welcome to join Hala, you’ll discover practical tips you can start implementing today to stay ahead in business.

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