Biggest Challenges Faced by an Entrepreneur at an Early Stage Startup
As an entrepreneur, the biggest challenge for Jorrel is navigating the "uncertainty" inherent in building a hypergrowth startup, which demands constant information gathering, planning, and creating contingency plans. Ultimately, ensuring "we have enough resources" to overcome upcoming challenges and problems remains the most pressing concern.
Entrepreneurship, Startups, Resource Management, Strategic Planning, Risk Management
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Jorrel Sto Tomas
Entrepreneur, Founder
Early Stage Start Up
UC Berkeley
N/A
Economics, Political Science, American Studies
Technology
Business Strategy
Took Out Loans, Worked 20+ Hours in School
Video Highlights
1. The biggest challenge is the uncertainty inherent in building a hypergrowth startup.
2. Requires constant information gathering, planning, and creating contingency plans to address potential issues.
3. Ensuring sufficient resources are available to overcome upcoming challenges is a constant concern.
Transcript
What's your biggest challenge in your role?
Okay. The biggest challenge in my role, which is also one of my favorite parts, is uncertainty.
Because many things are uncertain, you are constantly forced to collect information, plan ahead, and create contingency plans. When building a hypergrowth startup or any business, things will break and change.
If you aren't prepared to address these issues in advance, they can make or break your business. It's a mix of improvising, planning, and ensuring you're well-resourced.
What's constantly on my mind is whether we have enough resources to get us through the next challenge or problem. That's probably my biggest challenge: making sure we have resources.