Key Business and Engineering challenges for Startups
We are witnessing a rapidly changing world of technology which has attracted a large number of startups. The allure to launch a tech startup is easy to understand, especially when this industry is attracting large number of investors and venture capitalists year on year. However, journey for a tech startup in not an easy task. It faces many daunting challenges, right from the time when it is just an idea on paper to a full-fledged company that can stand on its own. Sometimes I feel it’s like starting a marriage. At first, everybody seems to be in a dreamland, with a vision to change the world, having great fun and counting profits. But all too soon, reality strikes, product development is stuck at that 90 percent mark, a key person leaves, and customers are talking but not buying. According to me these are some of the top reasons, because of which a startup could possibly fail. Reason 1: Defining the problem statement It is very important for product startups to know w...