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Top 10 Leadership Challenges Young Entrepreneurs Encounter

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Leadership Challenges Young Entrepreneurs Encounter
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Even when challenges show up, it’s the ability to overcome those challenges that makes a winner. Hence, what are those leadership challenges that leaders must watch out for in order to deliver maximum results?

No doubt, the most successful men today are people who have been able to conquer challenges by providing relevant solutions.

Bill Gates working with his friend won over the challenges of old days computer through the invention of Microsoft.

Similarly, Thomas Edison conquered the challenges of darkness by inventing the light bulb which gives out light in all homes and offices today.

This is a pointer that challenges are not to break us but to make us.

Therefore, in ten strict points, let us check out some major leadership challenges young entrepreneurs encounter in leadership.

1. Creativity And Imaginations Are Major Challenges In Leadership:

A leader must run with a vision if he intends to always come out with outstanding results.

He must be able to identify the way up when every other person doesn’t know what to do.

The ability to think the next step forward in the midst of challenges makes a good leader.

Well, thinking outside the scope of the market might be a striking challenge for most young entrepreneurs.

They need to always come up with creative ideas to satisfy customers demand and expectations.

Therefore, one of those leadership challenges many young entrepreneurs encounter is in the ability to find how best to win their market share in spite of major competitors and other market pull backs.

2. Expecting To Receive Payment For What They Know:

It takes value driven mentality to understand that no one is entitled to earn from what they know until they put it to work.

Nobody on earth pays anyone solemnly because of what they know, people are only to receive payment for what they offer.

Therefore, until you do something with what you know, a pay is not in view.

Many leaders in various industries look forward to getting financial rewards even before they offer any value.

They are too desperate to earn hence expecting payment before they utilize what they know in reality.

This is one of those leadership challenges in the world today.

3. Title Problem:

One leadership challenge common among young leaders today is in simply placing so much value on title.

Titles are good, but it becomes a challenge when a leader sets it as a yardstick before his followers speak to him.

Everyone should be given the opportunity to experience equality.

Just because you run a business that has some number of workforce doesn’t make you superior to all.

Most young entrepreneurs place so much emphasis on title.

Hence, they always want to be seen and addressed as the boss, the manager or the leader.

In reality, the world’s most successful entrepreneurs don’t even mind when you address them by their names.

4. Not Willing To Serve Like A Follower:

A good leader is the one that sees himself/herself as a representative.

He/she must be a mouth piece to always speak the interest of the people.

A leader must be able to lead by example.

Successful leaders are those who do what they want their followers to do.

They practice what they want to see to make others follow suit.

Entrepreneurs who succeed in leadership understands the place of humility.

Leadership becomes a problem when a leader works only on his own opinion.

Most young entrepreneurs struggle to break the superiority mentality over their followers thereby breaking and obstructing workers efficiency.

5. Fear Of Competition From Followers:

Just the same way it’s possible to dethrone a king and replace him with another competent person if he doesn’t watch his leadership.

Most young entrepreneurs fear competition from their followers.

They fear seeing a follower do better than them and take their place as the leader.

In reality, leadership is always bestowed on people either by grace or honor.

Also, anyone who strives to do better will always get ahead whether being a leader or a follower.

This is one mental challenge that bothers many young entrepreneurs.

Hence, many young entrepreneurs fear the chances of competing with followers who might do better than them.

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6. Leadership Challenges Sets In When A Leader Is Unable To Organize Details:

Inability to organize details accordingly is one of those common leadership challenges that affects most young entrepreneurs.

A good leader must be able to maintain and keep accounts of what has been done and what needs to be done.

This involves checking the work processes, procedures and observing good workplace ethic.

Carelessness is costly, it promotes waste, accidents and low outputs.

The ability to pay attention to detail is vital in leadership and entrepreneurship.

Also Read: 35 Workplace Productivity Growth Hack For Small Business Owners.

7. Unwillingness To Render Humble Services:

Just the same way people expect to be paid for what they know, many people find it hard to render humble service.

So many people today are in this league.

No one wants to render any service without receiving instant gratifications.

Similarly, many young entrepreneurs in leadership believe they are entitled to receive financial rewards for any services they render.

This is one of the most common leadership challenges that has denied followers the full potentials of their leaders.

It reduce work efficiency, team member contributions and hinders growth in management.

8. Disloyalty In Management Is One Of Those Crucial Leadership Challenges:

One of the greatest challenge a leader or an entrepreneur might struggle to tackle is disloyalty.

Workers might not always be truthful.

Hence, lies and cheatings will set into the workplace thereby leading to thefts, wastage and low production.

Many young entrepreneurs and leaders struggle to build a team of loyal followers.

Disloyalty breeds troubles, poor efficiency, conflicts and separation among people.

It stops growth in business and creates room for hindrances if not properly attended to.

9. Intemperance:

Successful leaders and entrepreneurs must be capable of controlling stress, anger and situations that leads to violence.

Most young entrepreneurs in leadership sometimes find it difficult to stay calm in the midst of annoying situations.

Hence, they end up taking bad decisions that will ruin their good works.

Anger might also set in when followers question the orders and directives of a hot tempered leader.

This is one of those major challenges leaders encounter while trying to play this roles in leadership.

10. Leadership Challenges As A Result Of Selfishness And Corruption:

There are times when a leader will be required to sacrifice his time, energy and resources to accomplish a task.

Selfishness sets in when leaders only want their followers to carry the burden.

Similarly, corruption must be far from any leader who wishes to lead people in peace and progress.

Successful leaders must be ready to strain and stretch themselves.

They must be willing to do things even when the the odds are not in their favor.

There must be no selfish interest in their dealings and leadership.

When something is important enough, you do it even if the odds are not in your favor.

Elon Musk, CEO and Chief Engineer at SpaceX; early-stage investor, CEO and Product Architect of Tesla, Inc.

Leaders must lead by example.

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What other leadership challenges do you think must be quickly addressed, share your opinions.

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