As a founder, what struggles do you face when growing your startup?
Sharath Kuruganty
22 replies
Replies
Josh C. Kline@joshckline
My startup @HaveNeed has developed a novel solution to an ancient problem. A problem I run into frequently when discussing this with potential investors is a bias to lean on the crutch of pattern recognition. In other words, it's easier to think, "Oh this is just like that other thing I've seen" than to take the time to learn how and why something is fundamentally different. If I had nickel for every time I've dealt with this I would have already raised more money than pitching for ;-)
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1️⃣ Multiplexing - giving equal attention to product, infrastructure, marketing, culture, finance, etc. etc.
2️⃣ Kissing - not the soppy sort.. as in "Keep It Simple Stupid". It's so easy to get excited about fancy solutions to problems most of your audience doesn't find important.
1. Patient, it doesn't grow so fast as I would imagine, but it's also good, more time to polish the product.
2. Millions of things that founders / CEO have to connect and remember.
@maciej_cupial exactly! You can spend thousands of dollars, but results will not go as fast as you think it'll be. It may go from weeks to months, or even years.
My startup is Choice Hotels and i faced some struggles like this :
1. Fierce Competition
2. Unrealistic Expectations
3. Hiring Suitable Candidates
4. Partnership Decision Making
5. Financial Management
6. Cyber Security
7. Winning Trust of Customers
8. My Choice ADVANTAGE
Curatora
For me it is Marketing. As a first-time founder, still figuring out marketing channels.
Marketing. And the delicate balance between operations, financing, hiring, solving daily fires...
Though I am not a founder myself but I have seen some founders first hand and the biggest struggles is about sales. Building a product is difficult but selling it even harder. And sales is directly related to finances. So it's a additional burden
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Market segmentation of B2C products - everyday could use it, but who is actually going to buy it?
Also, facing the challenge of rebuilding the app for a specific niche or keeping the same product while trying multiple segments.
Would be great to hear from other B2C SaaS founders how they are dealing with this issue!
Common startup problems include poor planning, poor leadership, failure to differentiate a product or service from others that are already available, ignoring the needs of customers, and not learning from failures
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Well, I believe a startup or any company faces hurdles throughout its lifetime!
Damnnnn
The first step is always being able to have enough people believe and align with you vision and get them on your team. The team is where it all starts. A strong and dedicated team that takes ownership of every contribution they make automatically impacts the quality of your service and the overall growth. Next I'd say is the strong marketing. My biggest hurdle has always been marketing. Being a service company we worked mostly on word of mouth and did not essentially invest much in voluntary marketing spends. But once you change that it's a whole new dynamic of business for you!
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Good one, hiring is the most important thing when you run a startup cause you never know how this person will act daily; only if you hire them and try for three months, you know it.
Sales and content marketing
VirtualTerms
I just created and just launched www.virtualterms.com with our initial non-disclosure agreement (NDA) product. We've streamlined legal agreements to make them clearer, easier, and faster to create, review, and sign in one tool. One struggle, not often mentioned, is that not only you as a founder are busy with time at a premium - but everyone else is crazy busy too!
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Seeing so many great products here get hundreds of upvotes and thousands of users everyday, while my app's daily new users has decreased from 10 to 0.
The most difficult thing is to find the people who are ready to work with you for your vision.
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