Visualizing the product idea, sharing it with someone who probably shares the same level of insanity as you, refining the product day in day out - without caring if you're in traffic, washroom or in sound sleep. Forming a team, keeping them motivated even if you pay them much below what an MNC would've paid. Startup is a challenge for the founders as most of the days, most of them, end up doing multi-role tasks starting from a CEO to the office assistant and everything in between!
The biggest challenge for a startup is to get the first 100 paid customers. The initial days are pretty chaotic. Its all about continuously evaluating our sales process, marketing metrics and product feedback and make course corrections to improve those periodically. This continuous evalutation resulted in a heavily optimised process which will work for the next 1000 customers.
Although India is slated for excellent growth in SaaS, the market and the cloud services scene isn't exactly mature. Identifying and disrupting a niche market and then narrowing down on the top challenges in that target audience needs a lot of focus.
Mediametric carefully aggregates almost every piece of content, published on the web and then collects all the stats for these articles - including shares to major social networks, comments on the website and citations and links, made in other articles.
We're using heuristic-based approach: we filter the incoming content automatically, giving it green light or blocking it, depending on whether it is a media outlet or something else, like online store or educational site. Some sources are sorted in the "gray zone" - those we filter using semi-automatic techniques, for example crowdsourcing. This way we filter out irrelevant content from thousands of channels, effectively handling large amount of data.
Editor's note: In an email communication Moscow based Mediametric's CEO Oleg shared the following input regarding talent scarcity & retention:
"Speaking about developers, it's a bit challenging to hire a skilled and motivated programmer here. However, we have noticed that for skilled developers a promising fast-growing company means more than just high salary. It's essential to them to have a feeling of ownership of some part of the product or an area of research."
In India, lack of reliability on small vendors/developer-team for software/product building is a challenge. This results in
-- delayed roll out
-- increased cash burn rate
-- toss of plans and finally
-- Participate here - What's the Single Biggest Start-up Challenge?
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