Know how to drive in the dark (you don't know where are the flaws, and can't know.. until you hit a wall)
Cashflow is usually the biggest challenge. I'm on my fourth start up and its always the way. Rapid growth success can be one of the biggest threats to cash-flow. That's a real trap for young players.
Finding others with the same values, passions and dreams that I have who can help deliver our brand promise.
Team is crucial.
To be very blunt, there is only one thing that counts: striving to build your team of A-players. Once you believe that one of your team mate is not up to the task he/she is given, then fight will start.
Being an A-player does not simply mean having exceptional skills. It rather means openness and trustworthiness. A-players will never let you down and they fully disclose their intentions knowing that their opinion will be respected and considered by other A-player teammates.
A-players are those who are able to reconsider their opinions and ready to pivot when necessary. This is a great gift that not all the people have.
So, be very careful in choosing your startup teammates.
ALL IN ONE! Oops! Sales, Strategy, Management, Taxes and well family too!
But its fun!
Sales and $$. We are bootstrap company and sell software and services however our biggest challenge is to fund everything. I'd love to find some good salespersons who would be willing to work primarily on commission/draw!