How To Kickstart A Tech Start-Up
Being a founder of a tech start-up is no mean feat, especially in a cut-throat marketplace. We won’t mince our words as you need to be prepared. Being a tech start-up’s founder comes with a lot of responsibilities so you will need to be very well prepared to put your ‘normal’ life on hold for the immediate future. Get ready for 3 AM calls, abundant amounts of coffee, and you might as well bid your social life farewell.
To be very honest, the late-night calls and the early morning disturbances might be the least of your worries. There will be bills which will need to be paid before you turn a profit, employees that have to be motivated the right way, and investors who you will have to try hard to woo.
So, how does one get started with beginning a tech start-up? One of the main questions for every new entry to this start-up world.
Don’t Overcomplicate – Start Lean
In order for a tech company to start making money, you’ll need a market which is ready to buy, the correct feature set to solve the pains of those users, pricing your market can afford as well as a hundred other things that you can’t perhaps know at the outset without performing painstaking research and spending a fortune.
That’s why start-ups do best when they’re grown iteratively, based on user feedback from a continually improving app. In order to run a lean start-up, don’t get bogged down in establishing a formal company straight away. It’s legal baggage that’s not necessary.
Truth is that you can go into business with a general partnership and co-founder. This makes sure that your costs are kept down and saves you with dealing with issues like organisational structure and taxes before you even have a product to sell.
Listen Well to Your Customers
When Levi Strauss was selling tents in the gold rush, he had the good business sense to listen to really one of his customers. This customer was a tailor and miner who was not satisfied with the strength and quality of the work pants available in the 1850’s.
However Levi Strauss didn’t just listen to his customer, he took it one step further by partnering with him to develop work pants with rivets and double stitching that delivered the strength to the blue jeans which we all know and love to this day. Was Levi Strauss just following a trend? No, he was just smart enough to listen to his customers, see a real market need and build a long-lasting business model. Much like an online casino sign up bonus he added something extra to broaden his product’s appeal.
Believe In What You Are Able To Do (Play The Long Game)
In the same way that writers are told to write about what they know, quite often tech entrepreneurs are told to “do what you love”. That is true however only if you’re prepared to give up doing what you love doing on a day-to-day basis to make sure that your business becomes truly successful.