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business, technology, cell phone

SOLUTIONS OF THE PROBLEMS FACED BY START UPS

SOLUTIONS OF THE PROBLEMS FACED BY START UPS

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Every problem has a solution and so does yours! If you are facing challenges with your start – up then this article is all you need! Below are the solutions to the major problems as faced by start-ups these days.
business, technology, cell phone
  • Financial resources

Acquiring necessary funds can be a tedious task, so below are given the sources of finance that can be considered-

  1. Personal Investment
  2. Friends and Family
  3. Angel Investors
  4. Venture Capital
  5. Business Loans
  6. Incubators
  7. Grants and Subsidies
  8. Crowd-funding

Tools: There are tools like Silo.co and CapLinked that provide a central platform for startups to find and collaborate with investors.

  • Revenue generation

Revenue generation is critical! The challenge is not to generate enough capital but also to expand and sustain the growth which can be achieved by the following-

  1. Determine Your Goals
  2. Focus on Repeat Customers
  3. Add Complimentary Services or Products
  4. Hone Your Pricing Strategy
  5. Offer Discounts and Rebates
  6. Use Effective Marketing Strategies
  7. Invigorate Your Sales Channel
  8. Review Your Online Presence
  • Team members 

Startups normally start with a team consisting of trusted members with complementary skill sets which makes knowing how to choose your team members extremely important!

  1. Hire action-takers who can get the job done
  2. Don’t build a team for a startup
  3. Hire people who understand the importance of customer service
  4. Personalities matter
  5. Be a ringmaster
  6. Consider investing in a recruiter
  7. Avoid homogeneity in your team

Tools: LinkedIn and Hired are one of the many tools that could be used to connect with qualified candidates.

  • Creating awareness in markets

Startups fail due to lack of attention in the markets so building brand awareness is an important aspect of the running a start-up!

So how to Build Brand Awareness?

  1. Create a custom hashtag.
  2. Participate in or sponsor local events.
  3. Maintain uniformity across your social media profiles.
  4. Post regularly to social media using your voice.
Anand Moondhra

Anand Moondhra

My Brief profile for your kind consideration :

I am Anand Moondhra , Start-up Consultant , Chartered Accountant , entrepreneur , and a business coach. I helped 1000 + Start-ups , CFO’s in Fund raising , Cost reduction , Optimising existing processes , Finance and Accounts , Compliance Management , MIS , Internal Audits , Pre - Audit/ Audit Assurance Services , Taxation Advisory , Due Diligence , Investigation Audits , Process Audits. etc. during my journey .....

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About Me

My Brief profile for your kind consideration :

I am Anand Moondhra , Start-up Consultant , Chartered Accountant , entrepreneur , and a business coach. I helped 1000 + Start-ups , CFO’s in Fund raising , Cost reduction , Optimising existing processes , Finance and Accounts , Compliance Management , MIS , Internal Audits , Pre – Audit/ Audit Assurance Services , Taxation Advisory , Due Diligence , Investigation Audits , Process Audits. etc. during my journey …..

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