ef­fec­tive peo­ple who will be able to take on big­ger roles and run the show (even when you’re away) as the busi­ness grows. Hir­ing de­ci­sions need to be made with care. If you feel you don't have the time, en­sure you take ex­ter­nal help and guid­ance. 4. Part­ner in­com­pat­i­bil­ity In the early days of busi­ness, your shared pas­sion and dreams for your com­pany would have veiled all other mi­nor prob­lems or dis­agree­ments that you and your part­ner have. Part­ner in­com­pat­i­bil­ity be­comes more ev­i­dent as the startup grows and be­gins to scale up. There may be dis­agree­ments re­gard­ing the growth and ex­pan­sion strate­gies, the way in which the prod­ucts and ser­vices need to mar­keted or piv­oted, and so on. As founders, you are emo­tion­ally in­vested in the com­pany, of­ten to a very great ex­tent. This forms the pre­fect breed­ing ground for con­flicts. In many cases, fric­tion arises when one part­ner feels that he is bear­ing too much of the work load or thinks that his co-founders are less in­volved with the com­pany. 5. Dwin­dling cash Next to peo­ple prob­lems, money (or the lack thereof) proves to be the rea­son why so many star­tups wind down -- and not just at tech ven­tures. Manag­ing cash flow is one of the most im­por­tant re­spon­si­bil­i­ties of an en­trepreneur. There are many fledg­ling busi­nesses out there who aim to build some­thing long term with a tan­gi­ble prod­uct that will change our world for the bet­ter. Most of them don't have the lux­ury of mil­lions of naira in ven­ture cap­i­tal back­ing but sur­vive on highly ef­fec­tive and fool­proof cash flow man­age­ment prac­tices. Culled from en­ and adapted Do you know any en­trepreneur be­tween the ages of 18 and 40 with an in­spir­ing Busi­ness Story?

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