Financial Management
Many startups also suffer from an unclear, or the complete lack of strategy, be it about their solution or their brand. The inability to communicate with the market has resulted in many companies not reaching the right audiences. Startups in India, and for that matter anywhere in the world, operate in a dynamic environment and need to constantly alter their offerings to meet customer demand and expectations. While this works for some founders, there are many who find this constant change a challenge as they may be unable to stick to their initial core offering that had actually formed the foundation of their startup.
Business Management
Many startups also suffer from an unclear, or the complete lack of strategy, be it about their solution or their brand. The inability to communicate with the market has resulted in many companies not reaching the right audiences. Startups in India, and for that matter anywhere in the world, operate in a dynamic environment and need to constantly alter their offerings to meet customer demand and expectations. While this works for some founders, there are many who find this constant change a challenge as they may be unable to stick to their initial core offering that had actually formed the foundation of their startup.
Business Consulting
Many startups, in their early stages, struggle to find mentorship, both technical and entrepreneurial. In fact, many founders start up with only an idea, and have little or no experience in running a business. Lack of mentorship at this stage can result in potentially disastrous business decisions. Mentoring is inherently an informal construct. A startup founder would be fortunate to get one mentor, let alone the multiple mentors they need at different stages of their entrepreneurial journey. To have someone to call in times of a crisis or have someone who can spot trouble a mile away is critical and yet not available.