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• Key Challenges Faced By Your Generation 2
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Entrepreneurship comes with a host of challenges. Rewarding challenges, but harsh challenges nonetheless. Experienced entrepreneurs have to deal with this no matter how long they’ve been in business -- trying to establish a brand, adjust to match or exceed the competition and keep your business profitable is a challenge no matter how many years you’ve been in business.

Bring your office together by identifying the strengths of each generation. 4 Main Challenges Affecting the Multigenerational Workforce We are here for your business - COVID-19 resources. Aug 05, 2015 On a recent press tour for my new book in New York City, I spent time telling dozens of media outlets the story of what the millennial generation is going through. Some media members totally understood the challenges facing millennials, have seen it firsthand themselves and wanted to get to the bottom of these issues with me.

But for new and young entrepreneurs, there are some unique challenges that are especially difficult to overcome. If you’re just getting into the game, or you’re thinking about becoming an entrepreneur, be prepared for these eight significant hurdles.

Related: Myths That Can Hold New Entrepreneurs Back

1.Abandoning another career

If you’re going to dedicate yourself to starting and nurturing a business to success, it’s going to be nearly impossible to simultaneously manage another career. You might be able to manage the infancy of your business on the side, during weeknights and weekends, but if you want a chance of growing significantly, invariably you’ll have to quit your day job.

Walking away from a promising, steady long-term opportunity for something unpredictable is scary -- especially if you’ve never run a business before. Unfortunately, there’s no easy way to address this. Just think through your decision logically, and don’t ignore your instincts.

2.Financing

Experienced entrepreneurs don’t have it easy when it comes to funding a new business, but they do have a few advantages over newcomers. They might have a pool of capital from a business they previously sold or a steady stream of revenue they can use to fund a new business’s cash flow.

Even if their first business went under, they’ve likely made investment contacts and client connections necessary to give them a leg up in a new enterprise. As a new entrepreneur, you’ll be starting from scratch, which means you’ll need to start networking like crazy and thinking through all your possible funding options before landing on one.

3.Teambuilding

This is especially hard if you’ve never run or managed a team before, but even if you have management experience, picking the right team for a startup is stressful and difficult. It’s not enough to find candidates who fill certain roles -- you also need to consider their cost to the business, their culture fit and how they’ll work as part of your overall team. Such considerations are exceptionally hard when you’re under the pressure of filling those positions as soon as possible.

Related: Finding the Right Second-in-Command Is the Biggest Decision An Entrepreneur Will Make

4.Being the visionary

As the founder of your startup, you’ll be expected to come up with the ideas. When a competitor emerges, it will be your responsibility to come up with a response plan. When your team hits an impenetrable obstacle, your job will be to come up with an alternative plan to move forward.

This demands on-the-spot creative thinking -- which should be an oxymoron, but entrepreneurs rarely have the luxury of time. The less experience you have, the more pressure you’ll feel from this, and the harder time you’ll have coming up with acceptable plans.

5.Dealing with the unknown

How long will your business exist? How profitable will your business be? Will customers like your product? Will you be able to give yourself a steady paycheck? None of these questions has a solid, reliable answer, even in startups based on great ideas with all the resources they’d theoretically need.

That unknown factor means your job stability is going to plummet, and many of your long-term plans will remain in flux as new developments emerge. Dealing with this volatility is one of the hardest parts of emerging as a new entrepreneur.

6.Loneliness

It’s a rarely mentioned problem of entrepreneurship, and many new business owners aren’t prepared for it until it happens. Being an entrepreneur is lonely. It’s a singular position, so you won’t have teammates to rely on (completely). You’ll be working lots of hours, so you won’t see your family as often. And your employees will be forced to remain at a bit of a distance.

7.Rule-making

It’s fun to be the boss until you have to enforce something. Sooner or later, you’ll have to come up with the rules your business follows, from how many vacation days your workers get to what the proper protocol is when filing a complaint about a coworker. These details aren’t fun to create, and they aren’t fun to think about, but they are necessary for every business.

8.Decision-making

Believe it or not, this is probably the most stressful challenge on this list. New entrepreneurs are forced to make hundreds of decisions a day, from big, company-impacting decisions, to tiny, hour-affecting ones. Decision fatigue is a real phenomenon, and most new entrepreneurs will experience it if they aren’t prepared for the new level of stress.

If you can work your way past these major obstacles, you’ll be well on your way to establishing yourself as an entrepreneur. That isn’t to say they won’t continue to nag at you as the years go on, or that new and varied challenges won’t arise to take their place, but you’ll be prepared to handle yourself in those most volatile and impactful first few months -- and that puts you far ahead of the competition.

Related: Having an Ego Is Healthy. Letting It Get Between You and Your Co-Workers Is Not.

In a world where employees frequently work well beyond the age of 60, and school leavers are now entering the workforce, companies are now facing a brand-new challenge - how to manage a multi-generational workforce. For the first time, in one workplace we have Traditionalists, Baby Boomers, Generation X, Generation Y, and Millennials. It's easy to see how managers might struggle to align so many workers with disparate characteristics.

However, if you want the best selection of skill in your workforce, you'll need to learn how to tackle the challenges and encourage the people in your team to work together efficiently. It won't' be easy, as HR studies prove that in organisations with more than 500 employees, 58% of managers see conflicts between generations. However, if you can nail-down the multi-generational team, then you can access a talent pool that thinks outside of the box, and knows how to balance each other's strengths and weaknesses.

Challenge 1: Managing Communication

Communication is key for any workforce. When using a specialist recruitment agency to find your ideal candidate for a role, the chances are that you consider communication style and interpersonal skills alongside education and experience. However, the difference between communication styles for different generations has become almost cliched. While Generation Y sends instant messages, Gen Xers prefer calls and emails.

Throw in the use of colloquialisms, informal language, and abbreviations, and you've got everything you need for a serious breakdown in communications.

The Answer: Encourage Collaboration

When communication suffers, it can be tempting to segment your workforce. However, if you can influence the different generations in your team to learn from each other, and find a mutual language, then you will see significant benefits. Just because generations communicate differently doesn't mean they're incompatible.

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Key Challenges Faced By Your Generation 2

By shifting the collective mindset and pushing different generations to see each other as partners, rather than members of a segmented workforce, everyone can benefit from new ideas and new forms of communication.

Challenge 2: Motivating the Workforce

A motivated workforce is an engaged workforce. However, there's more to keeping your employees happy than simply offering the right salary. Motivating employees often means creating a company culture that supports everyone’s ideals and goals. It may include the use of perks and flexible working strategies that allow different generations to pursue different aims in their careers and to work in a variety of ways to achieve them.

The Answer: Treat Everyone as an Individual

Key Challenges Faced By Your Generation Lyrics

Rather than trying to motivate different people with the same selection of benefits, it could be easier to personalise your approach to motivation. For instance, when the time comes to reward an employee, ask them what they would appreciate most - from extra time off work, to a remote working schedule.

In addition, you can use this customised motivational strategy as a way of differentiating your business when it comes to asking your specialist recruitment team to find the employees that are right for you. If candidates know that they can choose their own perks, they're far more likely to be drawn to your company culture.

Challenge 3: Negative Stereotypes

Whatever their differences might be, it's incredibly important to make sure that companies don't play up to the stereotypes of each generation. Older workers often think of millennials as tech-obsessed and entitled, while younger workers think of Baby boomers as old-fashioned, and stubborn.

The truth is that although different generations can have different work styles and preferences, they're not so two-dimensional that they can be labelled under specific stereotypes. As a leader, it's up to you to move your team beyond the labels.

The Answer: Focus on Valuing People for Individual Strengths

Don't assume that certain people in your team need special help and treatment. Don't focus on the weaknesses that members of your workforce might have. Instead, get to know each person individually, and focus on drawing value to their strengths. Remember, mixed-age teams can deliver a wealth of opportunity to the business environment. Fresh thinking combined with experience can lead to highly effective results.

Watch out for any dysfunction in the workplace caused by generational judgements, and step in when necessary.

Challenge 4: Balancing Strengths and Weaknesses

Finally, each generation delivers their own unique characteristics to the workforce. Those differences should be embraced to help companies get the most out of their teams. Adobe cs5 all products key generator. Too often, managers see the gaps between their team members as negatives. However, building a team that's brimming with diverse insights, perspectives, and strengths can only be helpful to your company.

The Answer: Cross-Generational Mentoring

Make the most of the individual strengths and weaknesses your team members have by building a reciprocal mentoring program. Here, younger employees can teach older ones how to use social media and other technology, while older generations can provide guidance into interpersonal skills and communication while sharing their knowledge about how the business operates strategically and that important topic of how to navigate company politics should they arise.

Allow team members to learn from each other, and turn to other members of the organisation when they need help balancing their strengths and weaknesses.

About Resource On Demand

Resource On Demand is Europe's first specialist Salesforce Recruitment Company, now also focusing on growth Cloud markets.

We assist innovative and disruptive organisations to grow their technology teams. Supporting companies to fill Cloud roles that span across Digital Marketing, Marketing Automation, Human Capital Management and the growing Salesforce.com suite of skills.

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