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Things neglected by start-up companies
There are many small things which sometimes play a vital role in building and scaling up a start up, fine you have got great team, good product / service, have identified your market segment, have understanding of your target segment and you have done all your homework perfectly.
Some of the un common problems which play a dominant role in a start-up company lets analyse the effects of some un common problems which get neglected by start-ups.
Let’s look at most un common problem, how far is your house and your team house from the office, well this seems not that important lets analyze how it effects. Let’s take example of a team which has 4 founders staying at exact in four corners of city. Time taken to reach office, or when it’s time to meet clients it takes longer and by the time you reach clients would have walked out. Find office which is comfortable nearer and has good connectivity of transportation, if any one of the founder is staying bit far advisable would be to relocate.
How will you manage next 18 months without profits. Start-ups in the initial stage who have not tested water will always feel that its product / service is going to become profitable from 4th month onwards hence the buffer reserve is kept only for 4 months. When they launch and then see things are not the way they had forecasted leads to lot of pointing fingers at each other which creates imbalance among the core team which also leads to separation and blaming each other for the fall. Advisable is to be prepared for worst condition and have buffer for 18 to 24 months even if company does not give profits.
The influence of location on human resources, yes it seems to silly to talk about but this plays crucial role, some places in city where you have started your company may not be close or having proximity to easy surroundings hence getting human resources becomes a big problem, as people don’t want to travel across the city for working in start-ups. Hence the start-ups get working force which is very difficult to join in and there is always a possibility of the talent pool near to your office is not what you are looking at.