How Challenges Evolve In A Startup From Idea To Growth

Each stage of a startup is characterized by its own unique challenges. The overall challenge of building a startup is that as the company grows, the old challenges don’t disappear, they just become more common. Here are some of the most common challenges entrepreneurs face from idea to growth.GETTY

Each stage of a startup is characterized by its own unique challenges. The overall challenge of building a startup is that as the company grows, the old challenges don’t disappear, they just become more common. If all that a starting founder is thinking about is capturing a business opportunity worth pursuing, so are entrepreneurs running the world’s biggest companies looking to expand with better and newer products and services.

Business challenges are unavoidable. Entrepreneurs can avoid some business mistakes, but everyone has to overcome the challenges associated with building a business, whether it is in product, hiring, marketing, sales, or the countless areas entrepreneurs are responsible for. Here are some of the most common challenges entrepreneurs face throughout the startup journey from idea to growth.

1. Idea To Product

In this stage, your biggest objective is to find and prove a business. This comes with challenges. You prove a business when there is a market for it, customers find your solution useful, and your numbers add up, which means you can run a profitable business or have a clear direction for profitability.

At this stage, studying the competition, talking to customers, seeking guidance, working with an entrepreneurial team member and launching small versions of your product for testing and validation will provide you with the insights you need to find and prove a venture worth pursuing.

2. Traction

You have strong validation signals from the first stage and have gathered quantitative and qualitative evidence that your solution is needed and used. In this stage, your goal is to prove the business can grow.

Read more: www.forbes.com