I’m Co-Founder of ROCKETECH, a software development company that converts business to digital form for customers.
If you’ve ever had the idea of founding a startup, you’ve probably seen the thrilling guides with X steps on how to do it correctly (the internet is generous with advice). There are inspiring examples of big names who raised their garage startups to billion-dollar corporations. But if you dig deeper, you will also see that half of startups fail in their fifth year and that this adventure has a lot of hidden challenges.
While “running out of money” and “no market need” are the on-the-surface reasons for these failures, many young entrepreneurs overlook the weight of the leadership model and scalable infrastructure. And running a startup is, in large part, about planning, creating regulations, writing instructions and hiring the right people. So what happens when your venture grows?