Running out of funding. This is a tough one to deal with, because you think you can make up funding with more work. My solution is to offer a very stage product right from the start in order to get some cashflow going in. So far it has worked.
Building something people don't want. I once spent two years developing an idea to only realize people did not want to pay for it. Two years spend buying equipment, developing marketing, etc. But I did not test the market. I know.
Lack of sales skills. This one is really tough. As an introvert, is was really hard getting how sales work. I read book after book trying to find the magic formula. Turns out that sales skills are more about social skills than anything. So my lack of sales skills were really a lack of social skills. One good startup died due to that. But I did realize the problem, and have been working on improving my sales/social skills. So far so good...
Wrong market. Spent five years trying to sell to a market that would not buy from me. Why? A combination of lack of social skills and pricing kept me from achieving any success.
Being the lone founder. My biggest successes have been when I've worked with someone else. Having someone to split the workload makes a huge difference.
Buying too much inventory ahead of time/demand. I still have some left.
Not getting deals on writing. A good startup I was building died because I did not get a deal in writing. I went and bought some inventory to satisfy the deal, and then the buyer backed out.
Well, I have to commend you on your entrepreneurial spirit to keep trying. If you keep trying you're bound to hit it eventually (if you haven't already).
Running out of funding. This is a tough one to deal with, because you think you can make up funding with more work. My solution is to offer a very stage product right from the start in order to get some cashflow going in. So far it has worked.
Building something people don't want. I once spent two years developing an idea to only realize people did not want to pay for it. Two years spend buying equipment, developing marketing, etc. But I did not test the market. I know.
Lack of sales skills. This one is really tough. As an introvert, is was really hard getting how sales work. I read book after book trying to find the magic formula. Turns out that sales skills are more about social skills than anything. So my lack of sales skills were really a lack of social skills. One good startup died due to that. But I did realize the problem, and have been working on improving my sales/social skills. So far so good...
Wrong market. Spent five years trying to sell to a market that would not buy from me. Why? A combination of lack of social skills and pricing kept me from achieving any success.
Being the lone founder. My biggest successes have been when I've worked with someone else. Having someone to split the workload makes a huge difference.
Buying too much inventory ahead of time/demand. I still have some left.
Not getting deals on writing. A good startup I was building died because I did not get a deal in writing. I went and bought some inventory to satisfy the deal, and then the buyer backed out.
I have many more... :)