Dealing with the Big Question Marks

August 16, 2014

in Ideas, Ownership, Starting Up

For brand new startups, there are big question marks. The answers to those questions could kill the early startup.

For instance:

* Can we build this? Is it even possible?
* Will we get particular distribution rights or partnership agreements necessary to do business?
* Will funding come through?
* Will FDA approval come through, or whatever else government regulation?

It is tricky to start a company when those big question marks exist. There
can be a time lag to answering those questions. During that time lag, it can be hard to have the enthusiasm to work on the bulk of the startup because you know that if the big questions come back negatively that all your work would be in vain.

Every new startup has to deal with these big questions differently and decide how much throttle to give the startup while the big questions work themselves out.

I often like to ask new entrepreneurs what are their big open questions.

What are your thoughts on dealing with big open question marks?

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