Startups face problems from different areas. As you can notice, some of our friends are eagerly waiting to start a company. And when they start, they start in a big-way. Renting a large office space, spending large amount of money to the hardware resources for the office, recruiting a large team of professionals. For some time the team will be on right track and when they find about the shortage of fundings and cannot implement as they expected. They started to feel pressure, and our friends and family will make you more vulnerable. They will start asking questions, why you need to start a company if you are getting good salary from your previous company…blah…blah….blah. You need to end your dream as a founder of company within in a short period of time.
These problems are the main problems resulting for eighty percent of startups. Once we analyse the problems that will face when we are entering to start a company and plan according to that, you can succeed with your company.
And i am not saying that once we have a clear plan, everything will go smoothly.
Once you enter you need to face a lot of competitions from everywhere, and you need to start building your startup in a steady way.
These are the main problems that startup faces and how you can overcome these problems.
Cash or Money
This is the main problem, when everyone interested in starting a company. They will start a company, by spending a lot of cash to the hardware resources, recruiting programmers, designers etc. But you can avoid these problems by using the lean-startup method.
Whether you have a great idea about a product, makes a clear understanding about the outcomes of the product and start building it your own by working on your product on extra hours. Otherwise hire a freelance programmer or freelance designer to start your idea into a product. Start with the basic model, and when it is finished market your product to the customers and get feedback from them, and build to the next level. Once you have find the customer base, and happy with the product. Start as a company by renting a small office first, and recruiting each one on all fields. This way you can make your startup a success.
Getting the right people
Once you find your right team of people, you can easily find your way to top. Otherwise you need to wait for a long time till you find a right team.
Once you are recruiting someone, first let them know about your startup and look into their skills. Once you interested in their profile and he/she is ready to work in a startup environment then great. Built a team according to this method.
High level of competition
Once you start a company, you need to face the competition. You need to work harder than your competitor in order to get customer base from those areas. Your service need to perfect or at top that your competitor.
Once you are developing the product, study your competitors and make some notes about how you can build a great product than their one, What are the problems their product facing and how you can minimize those in your product. Like these, you need to study your competitors very much to succeed and to belong there for a long time.
You must have heard about the theory “survival of the fittest” and “a smooth sea never makes good sailors.” You need to aware and accept of these statements every time, when you are facing problems on your startup.
Growth Hacker, a movie buff, like to travel a lot, foodie, loves photography.