What do you consider the most intimidating part about starting a company?
A good idea20%
The high chance of failure40%
Not getting a salary for a while22%
Raising funds15%
Other (please comment)1%
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Director Certifications in Education5 years ago
Getting the money to run and sustain the company for a while until revenue flow is sufficient to cover all expenses.Director Certifications in Education4 years ago
Yes, it is critical to ride out this period. It is a false representation of the economy.
Lead Consulant, Customer Success in Software3 years ago
Coming from previous experience, the hardest part is living on minimal or no salary until a consistent revenue stream is established. Make sure that key contributors are compensated was top priority.Managing Partner, Partnerships & Strategy in Software3 years ago
I would say execution. That is, can you (or how well can you) execute on your idea or vision? Everything from hiring to product development to go-to-market to fund raising.CEO in Software3 years ago
Absolutely. Team and Execution.
CEO in Software3 years ago
Ideas are often easy, even really good ones. The courage to head off without a safety net is the biggest issue for me. I've been working since I was 11 and the idea of being without a salary for 12-36 months or longer as I get a company started is terrifying.Associate Director in Software3 years ago
There should be another option "All of the Above" :D but if I have to choose just one, it's definitely trying to get by with little to no salary until a steady revenue stream is achieved. All other challenges, in my experience, can be overcome, no matter how daunting. And even after there is a steady revenue stream, we founders oftentimes try to survive frugally to ensure there won't be unforeseen hiccups (like the pandemic, for example, which made things a lot more unpredictable) because, no matter what, the one thing we cannot take chances with is the teams salaries, and we should ensure that does not get affected.