Resist the Initial Resistances: Overcoming Startup Challenges

It is commonly said that only 1 out of 10 startups survives the first five years. This information should help startups to brace up for challenges that characterised most new ventures rather than scare them. We need to be aware that no matter how sound our ideas and plans are, it can still be regarded as assumption. A few of these challenges and how to overcome them will be discussed below:
LIMITED RESOURCES: Most Startups usually feel if they had more money they would do better, while this is true. Limited resources however has its own advantages. The opportunity limited resources brings are wise planning, costs saving measures and ability to still get optimal result. It opens your eyes to other options that requires minimal resources
REJECTION: The fact that you are new business in terms of products, skills e . t. c may make people skeptical about your skills or products. You need to learn not to waste time with anyone who rejects your product or service, move one to other people. No matter how sound a product or service is some people will still reject it. It is however advisable to note their comments or reasons, it might be the needed feedback for improvement.
DRIPPING profits: Profits for newbies usually start in form of small drips (especially comparing with someone in paid job). Dont be discouraged or give up. It should rather prompt you to think of other things you can add to improve your profits while you still maintain quality of service or product delivered and good reputation. Good record keeping, financial and prudent spending should be put in place.


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