Entrepreneurs today face various hurdles in this ultra-competitive business world, fortunately, present times have also blessed them with more resources for tackling those problems than ever before. Let’s look at a few of the problem areas and try to understand the challenges faced by entrepreneurs today. Define why each difficulty exists, and offer solutions so that you can run an efficient and successful business.
Difficulty in Arriving at the Exact Product to Be Built
Many of the applications we get are imitations of some existing ones. That’s definitely one source of ideas, but may not be the best and is subject to interpretation. If you look at the genesis of successful startups, few were started in imitation of some other startup. Where did they get their ideas? Usually, from some specific, unsolved problem the founders identified.
It seems like the best problems to solve are ones that affect you personally. Apple happened because Steve Wozniak wanted a compact, more efficient computer, Google because Larry and Sergey couldn’t find stuff online, Hotmail because Sabeer Bhatia and Jack Smith couldn’t exchange email at work. The list could continue, however, the point is to critically appreciate and balance them to understand the bigger picture.
Issues with Testing Resulting in Delays
Despite the huge investment in testing, recent data from Capers Jones shows that the different types of testing are relatively ineffective. In particular, testing typically only identifies from one-fourth to one-half of defects, while other verification methods, such as inspections, are typically more effective. Inadequate testing is one of the main reasons why software is typically delivered with approximately 2 to 7 defects per thousand lines of code (KLOC). While this may seem like a negligible amount, the result is that major software-reliant systems are being delivered and placed into operation with hundreds or even thousands of residual defects. If software vulnerabilities (such as the CWE/SAN Top 25 Most Dangerous Software Errors) are counted as security defects, the rates are even more troubling. Let’s consider the following ones below which continue to plague us, but are avoidable:
Funds Are Tight so Deadlines Must Be Met
Cash flow is critical to any business survival, yet many struggle to pay the bills (let alone themselves) while they’re waiting for checks to arrive. Part of the problem stems from delayed invoicing, which is common in the entrepreneurial world. You perform a job, send an invoice, then get paid (hopefully) 30 days later. In the meantime, you have to pay for everything from employees or contractors to your mortgage, to your grocery bill. Waiting to get paid can make it difficult to get by — and when a customer doesn’t pay, you may be risking everything.
Like money, time doesn’t grow on trees, so you have to be smart about how you’re spending it. Here’s how:
Development Takes Precedence over Design, Resulting in Bad CX
A lot of organizations make the mistake of incorporating design too late in the product development process, and yet ask the question does it matter? It absolutely does! An excess of features, baited rebates, and a paucity of the personal touch are all evidence of indifference( read as development) to what should be a company’s first concern: the quality of customers’ experiences. By fusing design from the beginning, it allows all elements of a product to work together seamlessly, providing a superior user experience. However, a lot of organizations relegate it to being a mere synonym for aesthetics. The truth is, it’s more than that – design takes into consideration other elements such as manufacturing, logistical concerns, and business applications. Actually, it is design, that largely defines how the product works, its discovery of personas and figuring out which feature lists to include. Following it up by building prototypes to get user inputs and fine-tune the design, learning, and ability to cater to various user segments. Therefore design and development, yes you read it right and not development and design are not mutually exclusive, but rather a collaboration of different elements that gives shape to the product for the users to experience.
Make a Successful Startup by Choice and Not Just Want
The right way for a startup to begin is by forging a relationship with an established organization that suits them the best. With due diligence and proper design, they can exceed expectations and energize organizations. Therefore the common denominator to success isn’t just careful planning and comprehensive analysis, but also taking fast, simple and competitive steps seriously:
An Organization with Proven Expertise Can Help You
Create awareness through workshops, iterations and quick scans
Build clarity with an iterative process and reduce delays due to experimentation
Spruce up your business process design, track it for optimized delivery
Define improvement programs and offer vision,
Execute data intelligence, upgrades, and maintenance with sophisticated analytics and user engagement platform
We offer a structured approach, aiding widespread adoption
We drive synergy to your business’ unique technology needs
We collaborate closely with your team and elevate your product to the highest level
We have 10+ years of experience in business transformation in numerous industry verticals with proven expertise in marketing and unmatched technical capability
Entrepreneurship is growing, and for a good reason. With more funding available, coupled with know-how and content on how to start your own business being easily accessible, and innovation hubs popping up all over the country. It’s an excellent time to be involved in the startup scene — an industry that’s not going anywhere or slowing down anytime soon. Despite the rising popularity, startup culture brings its own novel set of challenges and issues that the leaders must commit to addressing. By working together to overcome these obstacles, they collectively foster a startup culture that’s inclusive, efficient, and valuable for everyone.