We at Start-Up Booster are very keen on entrepreneurship and always want to help everyone looking to start their own business or implement an idea that will become a new unicorn!
As we want to ensure that Start-Up Black Belt participants get the latest trends, ideas, techniques and tricks to develop their business, we do surveys and polls as well. This information helps us a lot to keep on being a very professional and innovative educational accelerator. And here we are to share some of the insights we have from our last survey (we interviewed nearly 200 entrepreneurs around the world) about the biggest challenge people face when starting their business: where they get skills and information from. Let’s check where our journey brought us 😉
Please note that we didn’t take all the responses in the overview below and have selected the most relevant, often mentioned and interesting. All rights for this research are reserved and belong to Start-Up Booster.
If we are talking about very specific part of starting a company named your skills and knowledge base, it comes to a question where to get the skills and information how to move from A (starting a company) to B (making the first sales) and then to C (gaining the market share) and further. With current technologies and internet full of information where would you go? Research shows quite an interesting picture: people do search in the World Wide Web, however still tend to ask experienced friends as well as take a course which will have everything in it!
Interesting enough that everyone has his own way of finding what he needs in terms of information. We guess applying the right information to your project/start-up can be also a challenge if you are not having a proper mentor in place, for example. By the way, knowing “what to do” and not knowing “how to do” is a massive issue for many people! Having said that, let’s discover the challenges our participants shared with us.
Interesting enough that the money issue is not on the first place. We have expected that. The challenge that appeared to be quite common is “hiring friends and relatives”. Will that appeal to you? Before we have seen the results of the survey, we haven’t thought of that! It may be quite common if a number of participants have mentioned this type of challenge. It’s actually quite difficult to be business-like with someone who is either part of your family or is your friend. What is your point of view on that?
Keeping that in mind the biggest advice we can give is: be careful with the information you find and implementing it in your start-up. It’s not always the case that it is relevant to your type of business or niche. Think of finding a like-minded person to support you along the way and try to get a mentor or a business coach who will help you with the right skill set applicable to your business. The right person will help you with the business plan and action plan tailored to you. This is a very big step to success!
Good luck with your start-up venture!
Please note that we didn’t take all the responses in the overview above and have selected the most relevant, often mentioned and interesting. All rights for this research are reserved and belong to Start-Up Booster.