What are the CHALLENGES faced by START-UPS & HOW to OVERCOME them????

Rising Star Posts: 161 Reputation: 2 Join date: 2009-06-28

hi hi..

I had witnessed TWO businesses died this year, both being in operations for only for SIX months..

I will like to seek opinions from the community on what CHALLENGES are the new START-UPS facing & HOW to OVERCOME them..

Perhaps, we can learn something together..

First of all,i classified it into 2 aspect.Psychology,and Technique.

For psychology ,i say they does not have enough passion, and perseverance.

For Technique ,I see them perhaps does not model after successful business model,so on.

First of all i believe success comes from 80% if Why,20% is how,so the technique in actual fact only is the 20% of the reason.

To overcome it .You have to first understand yourself emotionally,on what you want in your life.What u want to do in your business,and whether u have the enough passion to take whatever it takes to success.
And some common problems are: behave like a self employed whether is setting up a business.learn to have a mindset on extending your reach toward more services,don't scared expanding ,which many people does.

Best to have mentors to yourself to guide you through the technique to setting up business.
Which my friends and i are helping.

Rising Star Posts: 161 Reputation: 2 Join date: 2009-06-28

good feedback..
I find that the mind-set of a businessman or a self-employed is EXTREMELY IMPORTANT..

That's what happened with the owners of the dead businesses that I had witnessed this year..
It seem that they are MENTALLY & EMOTIONALLY UNPREPARED & they are like starting a business to PROVIDE a JOB for themselves..

I wonder how to overcome this..
Mindsets are difficullt to change or people will want to change..

It is the desire within one own hearts.The desire to change.No one able to help with this ,except to guide u along the path ,but ultimately it still still yourself need to overcome.
Sometimes people tend to be lazy,they need other people to force them to push them to being success,that what in real life.
And so Find a commitment mentors or maybe so called rich dad ,to guide u along the path.

"No one can change a person if a person not willing to change"by JL Lu

Wow, powerful stuff.

Hope I can find my mentor soon too.
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Rising Star Posts: 161 Reputation: 2 Join date: 2009-06-28

I got mirrors to reflect on myself..

I figure that the mindset will either develop overtime as we experience from more hard knocks & learnt from it..

OR..

It is kinda inborn in an individual's character..

As much as an individual's mindset is crucial & poses as a challenge in startups,
I figure that finding MENTORS, WORKING PARTNERS, & a CORE TEAM to work with will be another challenge..

My "unofficial" mentors so far are the businessmen I came across during my course of work, & also the books that I read..

I got into some partnership & had work in teams before, & it pose to be a challenge to find the "PERFECT MATCH"..
I figure we can't have that "PERFECT MATCH" & we just have to work with, work around with situations & inperfections..

I wonder if anyone encounter something similar?

We pay school fees to acquire education. Likewise, we pay for our learning process in the making of a businessman or entrepreneur. We make mistakes which cost us money and time. But most important is to be passionate, focus and perseverance. Is about how persistent and patient you are that will make you grow and learn.

Rising Star Posts: 161 Reputation: 2 Join date: 2009-06-28

Recently, I am in conversation with a business owner who is starting up his 2nd company..
What I realised is that he is facing the "DON'T KNOW HOW TO START UP" problem even though he got one company in operations..

Yes, he got a business plan & has started to look for suppliers etc, but SOMEHOW his activities can't PSYCHOLOGICALLY & EMOTIONALLY LINKED UP with his business..

In the end, he is at a LOSS & UNSURE what he is doing now & next..
in the end, we managed to do some alightment together & yes, we discovered the missing links..

Are we facîng this?

That is the reason why we need to have like minded friends that we can discuss business ideas. In such sharing, I always belief that you are testing your readiness. You get fresh perspective from people around which as one person perspective may not be able to cover. Therefore, I encourage this group to start meeting and you will find it beneficial.

Agreed. Like-minded but more successful or better than you too.

That way, their success will diffuse to you. Their good habits, knowledge, and ways of thinking will be passed to you somehow.

I am going to a entrepreneur meet up in August, organised by SEN of meetup.com. Check them out here.
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Rising Star Posts: 161 Reputation: 2 Join date: 2009-06-28

Just a thought..
How about starting a meet up by OURSELVES here?

I know some cafés/resturants managers/owners..
If it is fine with the management team & the community here, I can check with them to offer us some exclusives..

Ya, I have offered to organise a SSuF meet-up.

Though I will want to see how this other meet-up is like.

Why are these cafes willing to give up their space so that we can meet?
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I guess you are right to have the thoughts that question why cafes are willing to give up their space for your meeting. With this, I would suggest to go for cafe with less crowds and talk to the boss for the simple tie up. Meetings must suggest that all member to buy at least a drink. Try to ask for an off peak time that the cafe has lesser patrons so that they stand to gain from hosting the meeting.

I get what you mean.

However, when are such off peak hours? Are after working hours considered off-peak? I had the impression, after work, people go to the cafes to hang out, and thus, such hours are not off-peak.
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Hope you all enjoy the forum! Let's learn, contribute and grow, SG entrepreneurs.