The business world mostly follows the proverb periculum in mora — there is no time to wait, it’s time to act. However, there is also one more Latin word which sometimes defines the opposite situation — procrastination, which came from the word procrastinare. Pro means "forward" and crastinus means "tomorrow". To procrastinate is to put off or delay something until tomorrow. The usual reason for doing so is that the activity we want to delay is boring, unpleasant, or downright hard. In the world of startups, there is no reason to consider the new venture as either boring or unpleasant as the startup is often the product of the founder's dreams and visions that he/she longs to turn into reality.
But in my years of being exposed to startups in the work of manufacturing, retail, design, capital raising, and finance, there are 3 reasons that crop up as the most common reasons for tarrying.
Delaying is not necessarily a bad thing as some things require more careful thought and planning or some need the right time for a strategic launch. But these "hard" reasons are making the first leap more difficult for some. However, you can always find some benefits in these situations and turn them into an advantage for your business’ sake.
Laws and regulations that impede the launch process
Lack of capital
When you start something for the first time, it is often the case that you have no idea of the real cost. Projects sometimes go awry due to lack of due diligence in this area. Six months into launch time and you find you need more than the operating capital that you have projected. For people venturing into new paths, new technology, new products, or new markets, the uncertainty as to the cost is increased.
Failure in the product or market study
Rigorous prototyping and market study pepper the life of a startup...and even then problems and issues that you did not foresee crop up and cause the delay of the product or company launch especially for tech and design-driven startup firms. This is not a bad thing as this further clarifies your service and streamlines your product. What others do to cover lost time is to get their future client base involved in the creation process to target two things: build a loyal customer base as well as gain honest feedback from future users of the product or service.
Sync together as a Team
With all of these in mind, the legal, financial, and product/service development issues are bumps in the road that can, in fact, benefit startups as they serve to protect, beef up, and enrich your startup company in preparation for further slumps in the road ahead. A strong team forged through tests and trials can better weather the storms ahead.
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