Key Challenges of Launching a Startup

By StartUp City | Tuesday, November 24, 2020

A few years ago, to launch a startup, one either had a big check or could raise an investment. Most self-funded entrepreneurs face problems start. Today, nearly 137,000 businesses are launched every day around the world.

Fremont, CA: Starting a business is full of challenges. But, passionate entrepreneurs can overcome any challenges.

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Let us look at some challenges a startup face:

Resources are Limited

A few years ago, to launch a startup, one either had a big check or could raise an investment. Most self-funded entrepreneurs face problems start. Today, nearly 137,000 businesses are launched every day around the world.

Today, the cost of launching a startup is a lot lower than it used to be twenty years ago. With low-cost cloud-based tools and open source technology, the barriers to launching a startup is far low.

While technology is open as well as affordable, skill is still needed to build, manage, and market a product. The rise of remote work has impacted employment and entrepreneurship. Research reveals that remote workers are less stressed, more productive, and are less likely to resign from their job. Today, one does not require an office, computers, or long-term contracts to launch a startup. Entrepreneurs can access talents with a few clicks. Also, they can use their savings to start a business.

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Knowing What to do is Paramount

The internet can give an answer to every question. While this huge amount of information solved many problems, it has created new ones. Selecting the right answer is another difficult thing.

Studies reveal that mentored founders have a lot higher startup success rate. Entrepreneurs who have a mentor are more likely to execute on their startups, and their ideas are much more profitable. Mentors can guide entrepreneurs towards their goals and support them all along. One can find answers online, but also it will require time and money to execute the tips and strategies entrepreneurs learn.

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