Thinc Tank / Career Development & Entrepreneurship

Overcoming the Challenges of Entrepreneurship

Overcoming the Challenges of Entrepreneurship

Entrepreneurship was never meant to be an easy game. The path for creating and starting your own business can be a tricky move—and always a risky one. So, how do you withstand the difficulties and uncertainty entrepreneurship can bring?  

Believe in your vision

When it comes to going into business for yourself, you must be fully committed to the vision that you have for your business. Whether you are in the infancy stages of your business, or further along in the process, you have to believe that your ideas are valuable.

It sounds cliche, but if you don’t believe in your future success, then you won’t be able to convince your team, your investors or your customers. When obstacles and issues arise, you’ll need to be able to quickly dodge them and not stay bruised for too long. Believing in your original vision, what got you started in the first place, is essential to withstanding the pressures entrepreneurship innately brings.

Have valuable contacts

The value of networking and relationship building cannot be understated. Whether it’s networking with other entrepreneurs or having a mentor to guide and give advice, relationships matter. Those contacts are important at any stage in business, but when it comes to growing your business, having a solid bench of contacts helps you get ahead of the game.

In the midst of building a business, finding time to establish relationships can feel daunting, but it’s important. Creating the right relationships and contacts is key to making future connections in your field, for increasing investments and funds, and for having the right people to rely on for advice.

Never stop planning

Business planning isn’t something that has to be taught to entrepreneurs in the early seasons of business. When you are building a brand and striving to reach profitability, planning is a constant. But what happens to the planning element of business when profitability is achieved and growth seems to steadily increase?

The planning phase of business shouldn’t ever be a phase. Entrepreneurs must always be thinking about and planning for worst-case scenarios. The best entrepreneurs build teams to keep their organizations running and spend their time evaluating the market, analyzing competitors and finding new ways to differentiate themselves.

Remain confident

Leading a business is difficult, and the unexpected challenges in the market and in your workforce can feel exhausting. The key is to maintain confidence in yourself and your employees, even in those moments of difficulty. Remind yourself that are able to withstand challenges, to keep your business afloat and to succeed.

Start Your Journey With Thinc Today.

Overcoming the Challenges of Entrepreneurship
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Acquisition Project Management

Our clearly defined process includes expertise in the areas of management, research, market search, analytics, and reporting
Project Manager
Set up playbook
Research
Set up data room
Campaigns
Campaign Follow-up
pm-step-arrows-wide
Initial Criteria Match/Viability Meeting
NDA Signed, PM Onboarding
Growth Team continues search
Project handoff to PM
Prospect and Process Discussion
Financial modeling and valuation
pm-step-arrows-wide
Advisor to client
Meeting coordination and facilitation
Deal structure recommendations
Due diligence process
Pre-close legal coordination and support
Post-close integration

Acquisition Project Management

Our clearly defined process includes expertise in the areas of management, research, market search, analytics, and reporting

Project Manager
Set up playbook
Research
Set up data room
Campaigns
Campaign Follow-up
pm-step-arrows-wide
Initial Criteria Match/Viability Meeting
NDA Signed, PM Onboarding
Growth Team continues search
Project handoff to PM
Prospect and Process Discussion
Financial modeling and valuation
pm-step-arrows-wide
Advisor to client
Meeting coordination and facilitation
Deal structure recommendations
Due diligence process
Pre-close legal coordination and support
Post-close integration

Evaluate the merits of any business idea

Thinc specializes in conducting comprehensive feasibility studies to evaluate the viability, risks, and rewards of new business initiatives, ensuring informed decision-making and strategic planning for success.
Thinc will conduct individual interviews with key stakeholders to gain an understanding of their ownership goals and future objectives.

Thinc will review a variety of materials from the firm including, but not limited to, the past 3-5 years of financial statements, organization chart, key roles, and other relevant materials.

Thinc will meet with the owners to confirm the direction gleaned from our initial interviews and information analysis. We will use this meeting to refine the direction and inputs for the different models.

Thinc will build out the different options using the provided inputs showing the potential outcomes and implications for each model.

Thinc will present the feasibility study, documenting the various options and models. We will also schedule a follow-up conversation, allowing the owners time for reflection on the study, to answer questions and discuss next steps.

Due Diligence Services

Our Due Diligence services offer a detailed examination of the target company, providing critical insights into risks, opportunities, and financial health to support informed business decisions and successful transactions.

Contracts

Contracts

Ownership Structure
Government Documents
Legal Filings
Client Contracts
Leased Properties

Finance, Tax, Insurance

Financial Statements
Tax Returns
Payroll
Managed Reports

IT & Fixed Assets

Software
Hardware
Furniture
Vehicles

Marketing

Customer Segments
Market Segments

Organization

Current Salaries
Benefits & Bonuses
Hiring & Firing Practices
Employee Engagement

Due Diligence Services

Our Due Diligence services offer a detailed examination of the target company, providing critical insights into risks, opportunities, and financial health to support informed business decisions and successful transactions.

Ownership Structure
Government Documents
Legal Filings
Client Contracts
Leased Properties
Financial Statements
Tax Returns
Payroll
Managed Reports
Software
Hardware
Furniture
Vehicles
Customer Segments
Market Segments
Current Salaries
Benefits & Bonuses
Hiring & Firing Practices
Employee Engagement

Due Diligence Services

Our Due Diligence services offer a detailed examination of the target company, providing critical insights into risks, opportunities, and financial health to support informed business decisions and successful transactions.

Ownership Structure
Government Documents
Legal Filings
Client Contracts
Leased Properties
Financial Statements
Tax Returns
Payroll
Managed Reports
Software
Hardware
Furniture
Vehicles
Customer Segments
Market Segments
Current Salaries
Benefits & Bonuses
Hiring & Firing Practices
Employee Engagement

Evaluate the merits of any business idea

Thinc specializes in conducting comprehensive feasibility studies to evaluate the viability, risks, and rewards of new business initiatives, ensuring informed decision-making and strategic planning for success.
Thinc will conduct individual interviews with key stakeholders to gain an understanding of their ownership goals and future objectives.

Thinc will review a variety of materials from the firm including, but not limited to, the past 3-5 years of financial statements, organization chart, key roles, and other relevant materials.

Thinc will meet with the owners to confirm the direction gleaned from our initial interviews and information analysis. We will use this meeting to refine the direction and inputs for the different models.

Thinc will build out the different options using the provided inputs showing the potential outcomes and implications for each model.

Thinc will present the feasibility study, documenting the various options and models. We will also schedule a follow-up conversation, allowing the owners time for reflection on the study, to answer questions and discuss next steps.

Start Your Journey With Thinc Today.

Overcoming the Challenges of Entrepreneurship
TSI_logo-color

Overcoming the Challenges of Entrepreneurship