What are the basic problems encountered in establishing a startup?

First thing first, you should realize you are in a risk zone. I am not saying you should worry about it all the time, but you should consider the fear of risk at least once before bed. This will help you identify and consider the problem seriously.

Let’s come to the point, what are the basic problem in establishing a startup?

Understanding the market need:

You have a great idea, it can break any record, but the problem is finding out who is going to use it. So, the first problem you will face is, turning your idea turning a real product.

Fortunately, you can solve it through product market fit.

Product Development:

The next problem you will face is the product development. Product development doesn’t mean just writing code or building the product. It’s actually the crystal clear match making of your product with the current market (use case) need.

Yes, you can solve it by implementing the product market fit perfectly.

Team and The Team Building:

A team either build your startup or dig a grave behind the scenes along with you. So, another blunder mistake you can make is: Hiring people with “startup tag” in their resumes.

So, hire skillful people, not a startup bro!

Convincing First Seed Investor:

First of all, I would not recommend starting a startup until you have enough money to build your MVP. MPV doesn’t mean the complete product you wanted to build, it’s just working with core function with nearly no bugs.

Because startup ecosystem has changed a lot during last few years. Investors have so many opportunities, although they can miss yours, you can’t convince them just with an idea. In case you could negotiate but they will grab everything for few bucks.

There are so many other problems, these are very basic & commonly valid for each and every startup. You may have been facing other issues depending on your product and market.

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