Launching your startup can be exciting, the challenges that come along with it are a lot to deal with, be it from the fund crises to the lack of manpower, we have listed out the 5 Challenges Faced by Startups and how to deal with it. While a recent survey stated that not many startups make it beyond the first year a clear understanding of the usual pitfalls could help you survive the scare.
Well if coming up with a convincing startup idea was challenging the task of finding a co-founder, who has dreams and passion similar to your could be daunting. No two people think and work alike and in a start up it is necessary for the success of the organization that both the founders have similar goals set up. Lest, it is time to find a replacement to take the place.
Even the biggest of organizations in the world were once just a startup and they had their share of challenges to encounter before their got the right funding. Although the idea is salable and the startup seems to be addressing the key pain area in its genre, it gets difficult to reach the right investors and pitch the ideas.
It has been observed that the startup entrepreneurs are too optimistic about finding the right customers and making the sale, which might work well for the first few customers who walk their way to the product with the attractive branding, website, product or service, but not in the long run. Most entrepreneurs in the startup ecosystem fail to design a working business model and crash down in no time.
The product market is constantly changing and the months of market research and pre launch feedback that the you received has turned futile as the market requirements have changed while you were busy building the product or service or there was a sudden economic slowdown.
As a startup it might be difficult for you to reach your target audience as you might not get the much needed media coverage and the issue of fund crunch that puts a restrain on the marketing budget exists to pin you down.
Be it finding the right investor, hiring efficient power, getting feedback on your startup idea or finding a working business model, what ever be the challenge your startup is facing head to the TechSparks 2014 and find a solution.
Pitch Your Ideas, get heard, meet investors, peers, industry leaders, learn and network all in one stage, while standing a chance to win 5 Lakhs. Hurry and register now as TechSparks is coming to your city soon.To register please visit www.meraevents.com.