Biggest frustrations with Starting up

[Rachel Margaret]

Hi All,

I am doing some research for my business degree as I became more and more interested in the entrepreneurial process of startups.

The main gap I am finding in my research surrounds - what makes founders tick - what are the most frustrating obstacles you have faced when starting up your business
Could one be:
- gaining funding?
- Business plans intimidating and overwhelming?
- Pulling together figures and data?
- incorporation has too much jargon.
- finding customers
- Finding "me" time - you feel as though you need two of you.
- Taking the initial idea and figuring out what comes next.

Whatever the frustration, big or small - I would love to hear - and if you don't mind, how did you manage the frustration.

I am hoping to have 3-5 key frustrations that I can develop within my paper.

If you have some time, I would really appreciate your input on this topic.

Thank you so kindly in advance for taking the time to read, but also respond if you wish to do so.

Thanks
Rachel

 

[fisicx]

I am doing some research for my business degree as I became more and more interested in the entrepreneurial process of startups.

One of my biggest frustrations of the use of the word 'entrepreneur'.

As to your questions - none of the above. The main problem is clients not know what they want or asking for the moon on a budget of tuppence ha'penny.

This is closely followed by their lack of marketing skills. They all seem to think posting on facebook is sufficient to bring in new business.

 

[godoit]

All of the above problems can be overcome and arnt really massive issues apart from time.

The 2 issues,
1 staff are hard work. 3 & 1/2 years and I have a team of 7 or which three I trust to go the extra for the company and customers.
2 customers, as fisix said. I got laughed, smirked and told it wasn't going to work by customers that were paying. Then asking for rediculous things, lying to get things their way and changing things and expecting me to agree.

 

[Alison Wright]

I would have to agree with godoit that staffing and customers cause the biggest headaches. I've had some wonderful staff but when things go wrong it's a real problem for a small company. I've also found that there is a tendency for customers to expect more from small businesses than they would from a large business. This is certainly the case when you're a retailer.

I suspect that finding customers will resonate with all business owners. It's easy to fall into the trap of setting up a business without thinking about where you'll find your customers and how you will attract them.

 

[Gecko001]

One of my biggest frustrations of the use of the word 'entrepreneur'.

As to your questions - none of the above. The main problem is clients not know what they want or asking for the moon on a budget of tuppence ha'penny.

This is closely followed by their lack of marketing skills. They all seem to think posting on facebook is sufficient to bring in new business.

I agree about the use of the word 'entrepreneur' regarding start-ups. It is a much over-used word especially in popular TV programmes and the popular press. Not every start-up or perhaps even the majority of start-ups are entrepreneurial in nature. Often start-ups are created by circumstances such as being made redundant or the death in the family. Also a start-up could come into existence to develop an invention, or to fulfil a need to able to have the freedom to do things a little differently in your own particular chosen industry, trade, or profession.

 

[Rachel Margaret]

I would have to agree with godoit that staffing and customers cause the biggest headaches. I've had some wonderful staff but when things go wrong it's a real problem for a small company. I've also found that there is a tendency for customers to expect more from small businesses than they would from a large business. This is certainly the case when you're a retailer.

I suspect that finding customers will resonate with all business owners. It's easy to fall into the trap of setting up a business without thinking about where you'll find your customers and how you will attract them.

Hi Alison,

Thanks so much for the reply.

Could I ask as to what kind of staff cause the frustrations - is it administrative staff or retail staff (apologies for any assumption with the use of "retail staff") - purely gauging if there are possible solutions such as outsourcing of some tasks as opposed to hiring of personnel on a full or part time basis.

Thanks again for your help on the topic.

 

[Rachel Margaret]

All of the above problems can be overcome and arnt really massive issues apart from time.

The 2 issues,
1 staff are hard work. 3 & 1/2 years and I have a team of 7 or which three I trust to go the extra for the company and customers.
2 customers, as fisix said. I got laughed, smirked and told it wasn't going to work by customers that were paying. Then asking for rediculous things, lying to get things their way and changing things and expecting me to agree.

Hi godoit

Thank you so much for your response - I truly appreciate your input.

Staffing - Could I ask as to what kind of staff cause such frustrations - simply gauging if there are possible solutions such as outsourcing of some tasks as opposed to hiring of personnel on a full or part time basis.

Thanks again,

Rachel

 

[Mr D]

Hi Alison,

Thanks so much for the reply.

Could I ask as to what kind of staff cause the frustrations - is it administrative staff or retail staff (apologies for any assumption with the use of "retail staff") - purely gauging if there are possible solutions such as outsourcing of some tasks as opposed to hiring of personnel on a full or part time basis.

Thanks again for your help on the topic.

Some things cannot be outsourced. Some things are more expensive to outsource than hire staff for.

 

[sjrichards]

I'm still majorly small scale but for me the biggest frustration by far has come from potential clients, who seemingly agree to a project, then mess you around for months before pulling out for a cheaper option somewhere down the line (once they gained your advice and guidance). A lesson in the importance of getting a signed contract before starting any work!
I've found that people can be rather dishonest and because we're a new company often they think that we'll be so pleased to get work we won't moan or complain about questionable treatment.
On the flip side though I often find that I'm at my happiest after losing a contract as it forces me to reassess the situation, come up with solutions and generally come out stronger and better prepared.

 

[The Byre]

- gaining funding? Work hard and save!
- Business plans intimidating and overwhelming? No!
- Pulling together figures and data? Only if you are of a low IQ.
- incorporation has too much jargon. I strike out jargon and incorporation is something I hand over to others.
- finding customers. If you have to chase them, you don't have a business!
- Finding "me" time - you feel as though you need two of you. My business is my hobby and my love - I don't need ME time! ME time is for the open-toed sandal brigade and vegetarians.
- Taking the initial idea and figuring out what comes next. Take it one step at a time Girl, one step at a time!

 

[Mr D]

- gaining funding? Used own savings and / or wages to build the business
- Business plans intimidating and overwhelming? No
- Pulling together figures and data? Easy enough done
- incorporation has too much jargon. Didn't notice sorry
- finding customers Very easily done first time, went outside and turned left, these days its even easier with 3rd party sites, events and market stalls..
- Finding "me" time - you feel as though you need two of you. There are two of us in the business, we set it up to take account of limits (both of us are disabled) and take time to enjoy things. We could grow it much faster by working 140 hour weeks and outsourcing stock for a few years but would not be as enjoyable.
- Taking the initial idea and figuring out what comes next. Lots of other people advised us, plus sites, books and experience as buyers.

Frustrated others rather than ourselves. Other people think we can do far more than we are doing, grow at 1000% plus each month rather than a leisurely 30% to 70%.

Would not describe myself as entrepreneurial. I have a business, have ideas for expanding it and ideas for future other businesses to start once tech catches up or costs become viable. To me its a label that may get stuck on me at some point, not one I'll use on myself.

 

[Alison Wright]

Hi Alison,

Thanks so much for the reply.

Could I ask as to what kind of staff cause the frustrations - is it administrative staff or retail staff (apologies for any assumption with the use of "retail staff") - purely gauging if there are possible solutions such as outsourcing of some tasks as opposed to hiring of personnel on a full or part time basis.

Thanks again for your help on the topic.

It's a big leap when you take on your first staff members and even the best ones can cause issues such as sickness and maternity leave which can be difficult to manage as a small business. There isn't a particular category of staff that causes frustrations, sometimes issues just come out of the blue, for example, friction building up within a small team. Using an HR consultant is a good idea if you can afford one (not always possible starting out). Outsourcing isn't always an option and can cause its own problems. You can end up spending just as much time communicating and resolving issues with outsourced work. It's easier to control the quality of work when its carried out in-house. Treat your staff well, pay them properly and communicate and a lot of staff issues can be avoided - but not all.

 

[mattk]

One of my biggest frustrations of the use of the word 'entrepreneur'.

I heard a good one today "serial entrepreneur" a phrase seemingly referring to someone who has started two businesses.

 

[EnhanceAccountancy]

Biggest frustration when starting up: Being able to reduce the need for every single semi-important business decision to be made by the business owner. Most business owners spread themselves thin trying to do everything, when they should be bringing in appropriate support. As a result the business stagnates due to the growth of the firm being limited by the business owner's available time.

 

[antropy]

1) Clients not knowing what they want.
2) Clients then knowing what they want but not willing to pay.
3) Working to constantly tight deadlines but this can also be a pro as oppose to a con as when you finish a project it is extra satisfying.

Alex

 

[The Byre]

I heard a good one today "serial entrepreneur" a phrase seemingly referring to someone who has started two businesses.

And there was me, thinking it was someone who eats muesli!

 

[Mr D]

1) Clients not knowing what they want.
2) Clients then knowing what they want but not willing to pay.
3) Working to constantly tight deadlines but this can also be a pro as oppose to a con as when you finish a project it is extra satisfying.

Alex

Ah yes the clients.
Have had some potential clients in the past get annoyed when I wouldn't take them on. Wanting work done when it was too late - typically I'd need 2 years to get them fully up to speed and they'd need it doing in 3 months.
No one who had intentions of doing the job properly would take them on with a 3 month deadline. There are scammers who would take the money and so sorry fail to get results in time.

 

[antropy]

There are scammers who would take the money and so sorry fail to get results in time.

And "yes-men" and offshore developers.

Paul

 

[Richard Patey]

my main frustration with startups is founders using OPM to get to product market fit - much prefer bootstrapped businesses that focus on paying customers from day 1

 

[ViktorijaS]

Finding customers for the start ups can be the most tricky especially when there are many companies that already provide the same or similar service. The big question is how to get your website on top of the Google search page.

 

[Mr D]

Finding customers for the start ups can be the most tricky especially when there are many companies that already provide the same or similar service. The big question is how to get your website on top of the Google search page.

Only if getting to the top of google search is something you want for your business. Not all do that.
Obviously not all businesses can be top of google search.

 

[Chris Ashdown]

Planning is easy to start with most information is available for a lot of startup's Finance should not be a problem by the time you start the business as you will have done your business plan covering most contingencies

Selling is a big hardship if new to it, people love your site or proposal but only a small percentage are willing to change supplier for a new company with no history

Sharks are everywhere from Large organisations to one man bands, I went on one just after startup to a startup meeting organised by local Chamber of Commerce and free, what we got was a talk buy Peninsular scaring us silly about employer laws and how you needed a company like them to protect you with there service, sign a three year contract and all your troubles will disappear.
ps. if you don't cancel withing i think the last 90 days of the contract it will automatically renew for the same original period (hidden in small print)

Or your local expert site designer and PPC expert plus numerous other qualifications will lie through there teeth and produce a site that a 10 year old could do better and charge you a fortune even though 6 months late

Your new staff , the first ones who looked the part on interview always come in late , never do overtime and items are missing or damaged by not paying attention

Not exactly what you asked for but just my experiences

Solution read this forum every day and learn from others misfortunes and never sign a contract you don't understand fully

 

[fisicx]

As the OP hasn't been back since September this thread can be closed