What are the biggest challenges of an early stage startup?
by SMEBOOK (admin) · January 19, 2021
These are a few challenges faced by early stage start-ups:
- Not fixing shortcomings: delivering a product that is better than the rest is easier than done and it is myopic not to assess its flaws before finalizing.
- Human capital: building a team of immaculate professionals who provide ingenuity and innovation is essential. A great work ethic is a must.
- Customer retention/acquisition: it is crucial to garner and retain new customers but preference must be given to the latter. It is imperative to keep your customers.
- Setting unrealistic goals surrounding projected growth and valuation.
- Adeptly managing the flow of cash.
- Dealing with legal intricacies.
- Start-ups deal with unfavourable conditions owing to the lack of success and recognition.
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