Every business initiative and entrepreneurial ideology comprise different phases that starts from the point of conception to the point of execution and finally to the point of implementation whereby a simple business idea becomes a tool that is potent enough to herald the establishment of entrepreneurial legacy that will transcend and transist in creating a chain-value system that accommodating enough to grant solutions to the dearth of entrepreneurial ideology and philosophy that seems to have been the order of the day in this present age.
No doubt about it,with the present realities of unemployment and underemployment that has been rampant and common across the length and width of the world,one could conclude that the way out is resident in the establishment,promotion and propagation of myriad of entrepreneurial initiatives necessary in building wealth and prosperity that will be needed for this present generation and the next one.
As it is a reality that there has never been any human endeavour that is free of challenges and factors that will stand as a clog in the course of execution, entrepreneurial conception, development and establishment can never be separated from facing challenges.
While some of these challenges are private,public, personal,corporate, environmental, financial, monetary,economic and all sorts of government policies.
Hence,there is a need to look at factors that could clogged the purpose of establishing any business from being fulfilled.
These factors are potent enough in standing as a mountain that will prevent any business concept from becoming a tool and a channel that will aid the alleviation of poverty ravaging the entire human race.
These factors are :
2.Not being punctual
3.Dearth of needed skills and education.
4.Lack of basic skills needed in enhancing and ensuring good customer care and relationship.
5.Dearth of innovation and business ideas.
6.Inconsistency in maximising good business modelling.
7.Poor financial understanding and lack of prudence.
8.Wastefulness of business resources.
9.Lack of corresponding useful business skills and know-how.
10.Poor managerial skills.
The presence of any of these factors will remain an obstacle preventing any form of business concept from achieving its laid down objectives and targets in the process of time.