Raising capital is perhaps the most difficult challenge any entrepreneur faces in starting a business. And for many, it’s unavoidable. Some resort to family and friends for quick cash. Others get it through loans, leases and investors.
Leadership is not prescriptive and what works for one person may not work for another. There is one trait, however, that many successful business leaders and entrepreneurs share: They are constantly asking themselves questions to stay relevant and perceptive.
Since the earliest days of the Internet, entrepreneurs have recognized the potential to export their goods and services worldwide, or to “go global” per se.
Entrepreneurs are famously optimistic. They are endowed with a bias toward optimism, according to research by Penn State University. This tends to be doubly true for serial entrepreneurs, who look at each time at bat as an opportunity to hit a home run.
Entrepreneurs often have the mentality, "If you build it, they will come." And often they are disappointed. Just because you launch a company, you can't expect clients to be knocking down your door, begging to sign up for your service or buy your product. Building a company and generating revenue takes time. I advise new entrepreneurs that it often takes several months -- if not longer -- to win that critical first client.
As long as consumers have problems, they will always search for solutions. People will always look for better, faster and smarter ways to accomplish everyday tasks. And fortunately for entrepreneurs, there are still lots of rooms for improvements in existing products. That said, the biggest issue for most founders is finding these painful problems and matching them with the best solutions possible.
After a good idea grows into a business, it’s natural to have a desire to expand the operation to an entirely new audience. However, much like forging an idea into a full-fledged (and, most importantly, successful) company, establishing a bigger market share, let alone an international presence, is easier said than done. From international business protocols to the customs and cultures of each nation’s consumers themselves, each respective region has its own unique challenges and benefits.