Wednesday, October 13, 2021

26 of the Most Common Startup Challenges


 

Following yesterday's blog post, today I list the 26 most common startup challenges. 

  1. Having the right idea – building something someone wants
  2. Understanding your business’ unique value proposition
    • Confirming customer need / marketplace gap
  3. Listening to and acting on customer feedback
  4. Thinking too small
  5. Taking the first leap – knowing where to start
  6. Assuming you need a lot of money right away
  7. Money / fundraising
  8. Cash flow management
  9. Chasing investors over customers
  10. Trying to do it alone
  11. Finding / hiring the right people
  12. The founders
  13. Not researching competitors
  14. Competitors’ actions / competitive responses
  15. Planning & focus
  16. Scaling up
  17. Unrealistic expectations
  18. Remaining within one's comfort zone
  19. Self-doubt and fear of failure
  20. Inability or unwillingness to pivot when necessary
  21. Failing to ask for help
  22. Lack of mentorship
  23. Time management
  24. Customer acquisition / sales
  25. Marketing mistakes
  26. Customer retention


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