It has become a prevalent thing to come up with great start-up ideas, but on the other hand not all start-ups are progressive, a few of them progress from one level to another.
Building a start-up is one thing and it’s another to have a progressive one simply because many start-ups are built but just a few of them are moving forward and not static.
In an effort to build a progressive start-up, there are various challenges that are prevalent with out a persistent and a tenacious mentality, a start-up may not be able to progress to another surge.
These challenges differ from start-up to start-up depending on the nature of the start-up. Some of the most recurring challenges in building progressive start-ups is the inconsistency of employees . This is a colossal challenge while building a progressive start-up. Many employees fail to bear with the current level of growth in a start-up and even more the compensation policies of the start-ups. Hence they seek for greener pastures, as well all know, a start-up doesn’t start with high salary pay for employees , great Human Resource policies etc , and with all these not being availed to the employees , they tend to find places that can accommodate their needs and expectation in that case being a challenge in building a progressive start-up since new employees have to be brought on board which in most cases calls for a new beginning in the development of the Human resources.
While building a progressive start-up, decision making can also be very challenging in the sense that some decisions are very experimental that a wrong calculation can cause a great loss to the start-up thus delayed decision making is a common challenge while building a progressive start-up. Many start-ups end up in situations whereby they need to take a crucial financial decision. It could be getting a loan for a mega project but with the thought that if there be any miscalculation, the progress of the start-up can be hindered though on the other hand a success of the same will lead to a huge progress for the start-up.
Competition is another challenge in building progressive start-ups, many start-ups try to keep up with the pace of their competitors and also in some cases aim to beat their competition. This requires a lot of investment , and inventiveness which is a great challenge for start-ups simply because they are trying to out-compete other competitors who could have been in existence for quit longer than them implication a larger capital pool , better human resources and management . And for the newly started start-up its really demanding to keep up to that , in the effort to achieve relative facilities it is very frustrating to build a progressive start-up. It is also important to note that competition can be very damaging to a a start-up if it is not handled with almost patience and care.
The other challenge to expect on the road to building a progressive start-up is failure to achieve perfectionism. While building a progressive start-up , perfection is what most entrepreneurs aim at and in most cases it’s not attained. This becomes a great draw back for many progressive start-ups as many entrepreneurs get frustrated if they don’t live up to their expected perfectionism thus , tally longer than normal in the same stage or level resulting into great quenching of growth of any start-up , In order to trample on this challenge an entrepreneur ought to drive for day light and focus on the horizons implicating that one ought to aim at progress and not perfection because perfection is attained with expansion of the start-up.
All in all, building a progressive start-up is very hectic ; financially because it calls for a higher level of investment , Management wise it takes effective managers with eloquent decision making skills and even more, quality human resources to attain the desired progress. All these challenges if over come a progressive start-up is the result.