Running a Business

Don’t let these start-up problems overwhelm you

So you are a small business owner who has just entered the market. You’ve launched your business and are all starry-eyed with the flush of launch of your new business enterprise. With the passage of the first few months you notice that the first sheen is wearing out a little and problems and more problems are raising their heads. The scene isn’t looking all that pink and rosy any more. Your start-up has been a successful one, no doubt, but problems start coming later. Here are some problems and to which we have suggested solutions to help you overcome them as and when you face them.

Not able to meet delivery deadline

When you are new to the pressures of business, you may lag behind in delivering the product. However, every problem has a solution. In this case, what you need to do is get your team together and review all the parameters of the project threadbare – the present status and what each person’s real contribution is. Then put yourself and your team relentlessly to work. There’s no other way out.

Sales figures are not meeting expectations

Your product was projected to be an instant hit in the market. It is new, innovative and has the latest ultra- modern technology. But has it been tried, tested and proven? If the answer is ‘No’ it would be natural that customers would hesitate to buy a new product. Now the only way to go forward is to take small and steady steps. You would be tempted by well meaning advisors to land a big deal. But if such a deal is not immediately forthcoming, then it would be better to land a smaller deal. These small victories build confidence in the sales organisation and when you are in a tight spot, you have no other choice.

There is no unity among your team members

Your team is, of course, made up of different people having different opinions, mentalities, way of thinking and working. And, when you face such a problem it has to be solved with immense patience and clarity of mind. Perhaps you could get your HR advisor to talk to the team and also explain to them in great detail what the main purpose is. Let your team members realise that you are giving them another chance. Advise them to focus on the work to be done, the goals to be achieved, and how they can help the organization in doing so. Remind them that their actions are hurting the organisation instead of helping.

The press and the media is not sparing you

This situation would probably arise from the fact that your initial claims to your product have been very tall and out of proportion. Have a realistic view and examine your product dispassionately. Improve your product till it is really as good as your claim. You cannot seek press coverage and publicity for a product that nowhere reaches the mark. Another important thing that you ought to do is to focus on your customers. If you are able to make your customers happy, the press will be compelled to give you a positive response.

If your start-up business is showing any of these signs – our solutions will be useful to swing it back on track.

Entrepreneurial Learning

The article is about new businesses which have been launched recently. After a few months, the initial glitter of the business fades away and all types of problems start cropping up. Everything is no longer bright and shiny like the earlier days. It is possible that your start-up has been a successful one, no doubt, but problems start coming later. In this article the author suggest some problems that may crop up and to which he offers solutions to help you overcome those problems.

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