These are the most frequent and costly challenges in the startup ecosystem, and they involve, broadly speaking, the issues of team, purpose, digital product and the user …
Although each business experience is unique, since it involves internal and external factors that make it unrepeatable, there are specialists in the area whose journey makes them able to glimpse the patterns, repetitions and common conditions in certain types of business or of investment. Which is undoubtedly useful information when facing undertakings and startups, whose process still involves a considerable margin of risk.
Common mistakes in startups
Let’s see below, according to the experts, the most frequent and costly challenges in the startup ecosystem, and that involve, broadly speaking, the issues of team, purpose, digital product and the user.
Not knowing how to sell on-line
An online product would have to be promoted taking into account what its audience searches for on the net. In this sense, things as simple as putting the wrong information or highlighting the less relevant features, can play against the speed and visibility of the product (which are precisely the two greatest qualities of online sales).
Invest little and badly in equipment
It is not easy to recruit the ideal personnel for your startup, especially when it faces times of change and expansion. Often times these changes require rethinking the relevance of people who have been with you from the beginning and who can, in many cases, be your friends. Or vary the way you communicate with your growing team . In any case, refusing to change is the best way to succumb to it, so flexibility and adaptation must be privileged to overcome inertia and nostalgia.
Not knowing how to attract investors
Money is often sought where there is none, or in individuals who are very insensitive to the vision of the company. Or not knowing how to offer investors some concrete result, some evidence of the solidity of the company. In this matter, you would have to be like gunners: aim very well before even touching the trigger.
Not knowing the target audience
A tragic mistake not only in startups but in any type of business: not knowing to whom a product is offered drastically reduces the chances of convincing and allows a margin of error in communication that could perfectly cost the sale. Information is power , they say, and it is no less so in business. It is convenient to have a good customer feedback .
These are, in short, the most frequent error patterns in startups today. Knowing and understanding them can mean anticipating problems or anticipating needs that will lead to success
Offer your partners this article to strengthen your startup for the future or fix weaknesses that you have not been able to address previously.…