Navigating challenges of building startup

By Folajomi Adegbulugbe

Every entrepreneur starts with a vision—a product or service they believe will fill a gap, solve a problem, or redefine an industry. But the journey from concept to a thriving business is rarely a straightforward one. Building something meaningful requires not just hard work, but the ability to face and overcome challenges that often feel insurmountable. Having spent years building businesses and mentoring others through The Hive Incubator, I can say the path to growth is as much about resilience and problem-solving as it is about having the right idea.

One of the earliest lessons I learned from building Gasify was that no amount of planning can eliminate unexpected challenges. When we launched the platform to improve Nigeria’s gas retail sector, we had a clear roadmap for addressing supply inefficiencies and increasing consumer access. What we didn’t anticipate were the operational bottlenecks that arose once we began scaling. Issues like delayed deliveries, inconsistent infrastructure, and even changing regulatory requirements pushed us to rethink how we managed logistics and partnerships. These weren’t problems that could be solved overnight, and each required a different approach. What kept us moving forward was the team’s willingness to dig into the root causes of each issue and find practical solutions, even when the answers weren’t immediately obvious.

Challenges don’t only come in the form of operational hurdles. Sometimes, they manifest as shifts in the market itself. Startups often operate on the assumption that their initial product-market fit will hold indefinitely, but markets evolve quickly, and customer needs can change. I’ve worked with founders at The Hive who initially gained traction but later struggled to maintain relevance because they didn’t anticipate how competitors or new technologies would alter the landscape. The startups that survive these shifts are the ones willing to question their assumptions and adapt without losing sight of their core value proposition. They understand that staying relevant is not about chasing trends but about remaining attuned to the evolving needs of their audience.

Another area where growing businesses often stumble is in scaling their operations. It’s one thing to deliver a great product or service to a handful of customers; it’s another to maintain that same level of quality and efficiency as demand increases. As I am building Digitbooks, an AI-powered management accounting software, the thoughts of scaling our platform mean building out the infrastructure to handle higher transaction volumes while ensuring the same seamless experience for end-users. This requires not just investment in technology but also in people. Recruiting the right talent is a challenge in itself, especially in a competitive market where skilled professionals have no shortage of options. What makes the difference for us is creating an environment where team members feel ownership over the mission and are empowered to contribute to solving the challenges we face.

Financial constraints are another common hurdle for startups, especially in their early stages. Many founders assume that once they’ve secured initial funding, their financial worries are over. The reality is often quite different. Cash flow management becomes even more critical as businesses grow because the stakes are higher, and mistakes can have a larger ripple effect. I’ve seen entrepreneurs make the mistake of overextending resources on initiatives that didn’t align with their long-term goals, only to find themselves scrambling to stay afloat. On the flip side, those who prioritize financial discipline and invest strategically are better equipped to weather economic downturns or unexpected expenses. It’s not about being overly cautious but about being deliberate in how resources are allocated. This is an ongoing challenge for me and entrepreneurs I mentor, how do we invest in the right resources per time. More importantly what projects or ideas are worth chasing.

Beyond finances, one of the most underrated challenges startups face is building trust—whether with customers, investors, or partners. In the early days of a business, you’re asking people to believe in something that often hasn’t been fully realized. Convincing a potential investor that your idea is worth backing, or persuading a skeptical customer to take a chance on your product, requires more than just a good pitch. It requires proof of your commitment and the ability to deliver on promises, even in small ways. At Gasify, building trust meant being transparent about our progress and challenges, and consistently demonstrating that we were in it for the long haul. Over time, that trust became one of our most valuable assets, opening doors that wouldn’t have been accessible otherwise.

While every business faces its own unique set of challenges, there are common threads in how these challenges can be approached. First, it’s essential to embrace a mindset that views problems not as roadblocks but as opportunities to learn and improve. This might sound cliché, but it’s a perspective that has tangible benefits. When we encountered setbacks at Gasify, whether it was a delay in launching a new feature or a partnership that didn’t pan out, we treated each as a chance to refine our processes and come back stronger. This mindset isn’t about ignoring the seriousness of challenges but about ensuring they don’t paralyze progress.

Second, the value of a strong support network cannot be overstated. Entrepreneurship can be isolating, especially when things aren’t going well. Having mentors, advisors, or peers who have been through similar experiences can provide not only guidance but also encouragement to keep going. The Hive has been instrumental in creating these connections for the startups we work with, offering them a space to share challenges and find solutions collaboratively. Building a business might feel like a solitary endeavor at times, but it’s rarely successful without the input and support of others.

Finally, one of the most important lessons I’ve learned is the importance of staying grounded in your mission. It’s easy to get caught up in the day-to-day demands of running a business, especially when challenges arise. But the most successful entrepreneurs are those who don’t lose sight of why they started in the first place. For The Hive Incubator the mission has always been about improving an entrepreneurial ecosystem and providing entrepreneurs access to resources that will make them thrive. Keeping that mission at the forefront of every decision has helped us stay focused, even when the path forward wasn’t entirely clear.

Overcoming challenges in business is never a matter of following a set formula. It requires a combination of persistence, creativity, and a willingness to learn from both successes and failures. Startups, by their very nature, operate in uncharted territory, which means challenges are not just inevitable but integral to the process. The key is not to avoid them but to face them head-on, using each as an opportunity to grow stronger and more resilient. For entrepreneurs willing to embrace this mindset, the rewards are not just in the outcomes but in the journey itself.

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