[INFOGRAPHIC] Key Challenges for Startup Founders

[INFOGRAPHIC] Key Challenges for Startup Founders

Don’t feel like reading, head to our infographic straight away!

Ever tried to get an idea off the ground? How did it go?

No matter the outcome of your endeavor, I bet those first months used to be very stressful, frightening even. Getting something started on your will alone, with so much uncertainty and so many paths unfolding before you, can be overwhelming at best.

In fact, one in four Americans decides not to start a business because:

  • 84% they like the security of their income
  • 68% they don’t leave enough personal savings to start a business
  • 66% they believe that new startups stand low chances to succeed
  • 49% they have an idea but don’t know where to start

Even if you are off to a great start and your product catches fire, you can get addicted to the high of soaring graphs and regard moment of steady growth as anticlimactic. As Jess Lee, co-founder and CEO of Polyvore notes, there are times when Polyvore is doing great growth and cash-vise, but she is still left feeling deeply unsatisfied.

I believe that most of the issues startup founders face can be solved by remembering that you are not alone. By the end of 2015, 400,000 US entrepreneurs will have launched a business and will face a similar set of challenges. From issues with insufficient funding to problems with work/life balance, as a startup founder, at one point you have to face it all. What will make the difference? Your attitude and people you surround yourself with.

Learn from those who made it:

  • 59% of successful startups had more than one founder to help. You do not have to carry the burden alone.
  • 78% have created a formal business plan before launching. Planning before execution.
  • 54% claim they hired a professional advisor for assistance on how to run a business. Do not hesitate to ask for help those who know better than you.
  • 58% of founders say they commit themselves to their families and friends. Your life won’t balance itself out, it takes conscious effort.
  • 79% of startups that participated in Startup Collision conference use domain names that are not optimal for marketing. Well, you know how to fix that.

So, go on and give relying more on people around you a chance – share your fears with your team, delegate some of that task list and connect with fellow startup founders who know what you are going through and can offer a valuable piece of advice.

[INFOGRAPHIC] Key Challenges for Startup Founders

 

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