Challenges and Opportunities of Start Up IT companies

Challenges and Opportunities of Start UP IT companies

  1. Innovation Level:
  2. Lack of specific planning with good product
  3. Before sending market lack of idea on product validation and experiment either it is ok or tested or not
  4. Striving for limited resources to cope of with the product
  5. Lack of Proper planning and structure before, while and after development stage of product
  6. Lack of research, read and innovation in technological changes of market
  7. Lack of open communication among staff and management team with motivating manner
  8. Hesitate to bear the risk to do something new
  9. Not able to choose right partner and right staff for your product or company
  10. Financial:
  11. Operation level:
  12. Staffing Level:
  13. Irregularity of funding source
  14. Lack of global exposure

In summary some tips have been noted from various sources:

  1. Missing innovation model: success rate of costumer rather self revenue

Find out the need of costumer; don’t copy the product but innovation

  1. Negative cash flow and negative working capital- constant support to start up from financial view point
  2. Expansion with negative margin: better focus on at least minimum margin don’t go in loss from the very beginning
  3. Lack of talented manpower: skill manpower, idea into execution level, with deep level spirit
  4. Scalability with revenue recurring model: prepare of way to expand the business model to sustain the business and make constant revue
  5. Mixed marketing signal and wrong  positioning:  do best research and find out target people and sell the product.
  6. Releasing product as Layard: Lack of market study and research  then fall in problem
  7. Safe yourself from outcompeted:  Lack of market competitor knowledge makes company in loss or market back.
  8. Missing the step from feedback to feedforword:  start up does not follow feedback to improve the company in right way.
  9. Business model of complete eco system: need to connect all types of business for the best service and complete management planning