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Catch 22 situations you will face in your startup
The better way to describe the catch 22 situation is like the hen came first or the egg and there is not conclusion of which came first or what but its good debatable statement and both sides being correct.
Lets analyze this with a startup, in fact at every step the startup undergoes this questions day in and day out till it proves its point.
First catch 22 situation is my idea good enough, when they have done why can’t I do, though my idea is unique will it succeed or not will I be able to make it. If idea is unique then should I share my idea or not, if I share and if some one takes it up seriously then what or if I don’t share how will I come to know that my idea is good.
Then next situations arises is should I have my registered as Pvt ltd company or should I wait for revenue to come and then register it as Pvt ltd as my chartered accountant is saying its bit difficult for closing pvt ltd if this company does not work. First get proprietorship or partnership when this company grows then looks at making it pvt ltd.
The catch 22 situation is if don’t make pvt ltd then will clients take me seriously, will there be trust factor or if I don’t make then the revenue I generate will not considered for valuations.
Then catch 22 situation is should I advertise and spend on marketing or should I wait for word of mouth media to happen, while spending in advertising and media what will happen if clients don’t come or will clients come. Should I wait for traction to happen and then get started on advertising?
Hiring of employees, managing inventory, demand and supply, should I stock or not, saying no to clients and lots more catch 22 situations, remember it looks bit complex but once all these situations are cleared around and what emerges is good company with robust revenue model for sustaining and growth.