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4 Challenges Faced By Startups. - Technology Market - Nairaland

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4 Challenges Faced By Startups. by Favour2309: 7:10pm On Sep 14, 2023
You must have heard about the theory ‘survival of the fittest’; you must also have heard a statement: “A smooth sea never makes good sailors”.

Both the ‘survival of the fittest’ theory and the statement above fit really well with the world of startups. And the world of startups is a violent one.

But the question remains, how many startups tend to survive the violent waves of change that have completely transformed the very nature of today’s startups?

Yes, there is a huge paradigm shift. And that shift has challenged the overall functionality of startups.

I am not going to go into details about what is a startup and how it works; we all know that. In this particular post, I am going to elaborate about some of the biggest challenges being faced by small business startups.

🔴 Fierce Competition

The corporate world is quite fierce. There is always a competition going on between the giants. Competition poses one of the biggest challenges for the survival of startup businesses.

💛 Unrealistic Expectations

Success does not come alone. It brings expectations with it. Most of the times, these expectations seem realistic, But in the real sense of the word, are merely unrealistic. This same concept holds true for young startups.


🔴 Cyber Security

This is the digital age. And surviving the challenges in this age requires small startups especially, the ones operating online – to be super agile to counter the so called online security threats. Hackers are everywhere, and they are going to take advantage of any loophole within the systems installed within a startup firm.

💛 Winning Trust of Customers
Customer is the king. And that’s absolutely right. Winning a customer’s trust is one of the most important challenges that businesses in general – and startups in particular – face today. With a highly satisfied and loyal customer base, startups can scale and make progress towards excellence.

It is a fact that there is no single stop solution to the surmounting challenges facing the startups in this age. You don’t have a magic wand either that can help you solve the so called challenges overnight.

In order to face and tackle the so called challenges of a violent business world, startups first need a business plan, need to be resilient and focus on keeping their integrity in tact against all odds.

Need, an expert to help you elevate your business ideas to your dream success height?

I am favour Chukwu, a digital entrepreneur and business plan writer.

I'm open for collaboration and endorsement.

Free feel to message me, so we talk better.

https://www.fiverr.com/s/qN2m4y?utm_source=CopyLink_Mobile

Do have a blessed day! 🤭


#business #startup #startups #smallbusiness #digital #success

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