I have heard (and believe) that starting a new company takes huge amounts of time and effort. Having never done it myself I don't know where this time and effort is normally expended. Say for a tech start-up where the software has already written before launch, what should I expect to have to spend most of my time doing?
Forming a company in most modern economies is a fairly trivial process.
Starting a business takes significantly longer. Things we found take a long time:
This is akin to asking "What exactly takes up a lot of time and effort fixing a car?" Having only worked for a company you don't get to see everything that goes on to keep the business running (under the hood).
I recently made the switch from "individual contributor" to entrepreneur. I have to understand bookkeeping, sales, applicable (and peculiar) laws, marketing, financing, et al in addition to the product that I am actually selling.
It's not one particular thing. It's everything.
My experience is in business software and for me, what takes interminable amount of time is connecting with the market.
Yes the software is written, it may have even been tested with one-two customers, but that is just the beginning of the story. You will need:
Why most businesses fail, especially in software? They don't have the persistence, don't stay around long enough to properly connect with the market and iron out all the problems. If I am to single out the most important factor for business success I would say it is the power to stay and execute.