Following yesterday’s blog post, today I list the 26 most common startup challenges.
- Having the right idea – building something someone wants
- Understanding your business’ unique value proposition
- Confirming customer need / marketplace gap
- Listening to and acting on customer feedback
- Thinking too small
- Taking the first leap – knowing where to start
- Assuming you need a lot of money right away
- Money / fundraising
- Cash flow management
- Chasing investors over customers
- Trying to do it alone
- Finding / hiring the right people
- The founders
- Not researching competitors
- Competitors’ actions / competitive responses
- Planning & focus
- Scaling up
- Unrealistic expectations
- Remaining within one’s comfort zone
- Self-doubt and fear of failure
- Inability or unwillingness to pivot when necessary
- Failing to ask for help
- Lack of mentorship
- Time management
- Customer acquisition / sales
- Marketing mistakes
- Customer retention
