Entrepreneurs have several dilemmas going within their minds. They often feel that they require more time to develop their services and products. Intelligent entrepreneurs know and embrace this fact that they will never have ample money and time to start with their business. Also, there will be market fluctuations and competition, which might urge entrepreneurs to work under pressure at times. And that gives rise to several entrepreneurial dilemmas that are essential to address.
Eric J Dalius on entrepreneurial dilemmas
Most start-up business firms have the notion that their company isn’t working as much as they should. And at times, they feel that their employees and staff are focusing on the wrong initiatives. According to Eric J Dalius, there are several marketing dilemmas that an entrepreneur has. It’s because they want their brand to succeed. Some core dilemmas faced by start-ups and other entrepreneurs are:
- “Work that doesn’t count,” says Eric Dalius
Most entrepreneurs want their team members to focus on one question, i.e., “Will the customers’ value what I am creating?”. It is because if a service or product doesn’t resolve a customer pain point, the customer will not attach a value to it. Hence, entrepreneurs get caught up in the dilemma of making optimum use of the resources. They feel whether they have the correct capital and human resources to go ahead with their marketing campaign. Also, are they able to make the proper use of the support? The solution is to analyze their efforts and have faith.
- Correct timing
Entrepreneurs know that they might have the correct product and service marketing plan, but if the timing is not accurate, their entire project can go for a toss. One of the recurrent questions that entrepreneurs keep asking themselves, is “Is it the right time to launch this product or service?”. According to Eric Dalius, no entrepreneur can know the precise time to launch the business. Most entrepreneurs arrive at a balance between being well-prepared and counting on the audience’s pulse. Studying market and business trends also helps to decide whether the timing is correct or not. And there is always room for improvement after the service and product launch as well.
- Correct investments
Entrepreneurs need to make investments to expand their business. The financial investments vary from purchasing inventories to investing in another outlet. Also, companies invest in consolidated advertisements annually and promotional campaigns as well. According to Ej Dalius, they feel whether they are taking the correct investment decisions. Alternatively, they try and research on business expansion strategies that will yield them the best results. That way, they can make an informed decision.
- Reviews
Every entrepreneur wants their customers and online audience to speak in favor of their brand. Expecting positive reviews and averting negative reviews becomes a point of stress and dilemma. Hence, the solution is to embrace both. The positive reviews are always encouraging. And if there are negative reviews, the brands can embrace it and try to resolve it by improving their service.
An entrepreneur has endless dilemmas. They want their brand to get known for its services and products. They also want to expand their customer base and make more profits. Addressing the dilemmas mentioned above will help entrepreneurs to get sorted.