Entrepreneurs Journey - Case Study Example

Simi sought various interventions and methodologies to achieve to achieve her goals. This paper seeks to discuss various entrepreneurial challenges encountered in setting up a business by critically evaluating a case study. Simi’s case is a classic example of contemporary issues facing entrepreneurial endeavors that individuals face in their quests to set businesses in various regions of the world. Simi sought to establish and launch her business idea in Lagos, Nigeria her country of birth and origin.

The most significant issue encountered by this entrepreneur is her gender as a woman, which bestows her added responsibility of bearing and rearing children for her family. This is compounded by her career aspirations, personal goals and dreams which she ultimately wants to achieve in a timely manner. This aspect requires appropriate and smart career planning and considerate decision making accompanied by relevant choices. Career planning should be focused the implementation of strategic career objectives that are accommodative of an individual’s other commitments with their family. . As a developing country, Nigeria presents myriad off challenges to any budding entrepreneur irrespective of their gender.

Cultural perspectives towards women in Nigeria are totally different from those held in the United States, and Simi should have experienced a culture shock during the initial stages of her business. According to Simi, her education set her apart from a majority of women she sought to provide services to through her company. This meant that her entrepreneurial perspectives and attitudes were different from those of her potential clients she sought to recruit. This formed part of her marketing problems in a new business environment with different challenges that she had not envisaged.

2hats Network LLC was faced with operational problems in the sense that it had already started operating and functioning in the US with ongoing contracts during its intended relocation to its originally intended location. This created logistical challenges for the company, which risked losing critical contracts that were the financial lifelines of the new company. Strategic problems also bedeviled the company because of the drastic dynamism the company was bound to go through in the new business environment.

Financial support for the company was entirely reliant on personal contribution because their new business environment lacked financial support for emerging entrepreneurs. Market access was another challenge that 2Hats had to contend with in its initial foray into the Nigerian market. Critical analysis of entrepreneurial activities requires both qualitative and quantitative analytical methods in order to achieve well-rounded, clear and objective inferences and solutions. There exist two approaches to a successful critical