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On the one hand, to attract investment and develop a product, it is necessary to be innovative and keep up with the times. On the other hand, a business needs to be sustainable and profitable, and for that, it is necessary to have a long-term plan and not take too many risks.
However, the need to maintain a balance between innovation and sustainability is not the only paradox. Another is the tradeoff between quality and speed of product development. On the one hand, it is necessary to create a quality product that will be competitive in the market. On the other hand, the longer the product is in development, the more risks and expenses, which can lead to delays in the market.
To succeed, IT startups need to manage their resources effectively. It is necessary to choose the right strategy and improve processes to maximize efficiency and reduce risks. For this, various management technologies such as Agile, Scrum, and Lean can be used to help overcome the paradoxes of IT startup development.
In conclusion, IT startups need to be prepared to fight paradoxes and constantly seek a balance between innovation and sustainability, as well as between quality and speed of development. Effective resource management and the use of modern management technologies can help startups overcome these paradoxes and achieve success in their industry.