With the growing adoption of technology in every aspect of our lives, every startup tech business has a high chance of success. But it remains a chance unless you make the right decisions that would propel you to get where the big tech companies like Google and Facebook currently are.
To set you on the right foot, here are three key things to know when starting a tech business.
1. Complement your in-house teams with more resourceful hands
As a startup, chances are you wouldn’t have the funds to hire the top tech experts full-time. They typically carry a high price tag, and most of them already work for companies. Some, however, work in managed IT and Staff Augmentation Companies. Since you require the best talents to develop incredible products, it’s advisable to look towards such companies to complement your in-house software team.
You can find developers, software engineers, HR managers, and administrators to work side-by-side with your in-house team. You can even find experts to train your employees.
The best thing about leveraging managed IT and staff augmentation companies is that you pay less than you would if you’d hired the same talent full-time.
2. Make trade-off decisions where needed
One thing notable about tech entrepreneurs is that they get so caught up in their big dreams that they want to actualize it all in one day. You probably have an idea for an incredible product with amazing features.
But unfortunately, the resources and time are hardly ever readily available when starting your tech company. This means you have to do a trade-off, i.e., let go of some things so you can focus on others.
Trade-off is a skill and habit tech entrepreneurs should inculcate because not every feature of that software may be as relevant to the end-user as you think.
If you focus your energy, time, and resources on less relevant features, users may entirely lose interest in the product. That’s not a good first impression. The worst thing is that you’d have wasted resources, and you’d be discouraged as a startup.
So, prioritize and make your trade-off decisions according to:
- Importance
- Budget
- Technical requirements
- Quality control
- The time it takes to reach the market.
3. Get a diverse team
If you think the right tech team comprises only highly talented software developers, you’re wrong. Don’t take it too harshly.
You see, being a software developer doesn’t automatically make someone a product developer. A software developer is more concerned about designing a beautifully designed app that’s visually appealing and functional. They exercise their talents.
But does that solve users’ problems? If not, you’d have a seemingly incredible product that consumers just don’t seem to want. That’s where the product developer comes in.
The product developer looks at the bigger picture and figures out the market loopholes and users’ needs dying to be met. They then conceptualize a product that understands the users’ pain points and meets them right where it hurts.
But this point isn’t all about product and software development. It’s about having the right diverse team comprising individuals of different qualifications, skills, roles, insights, and backgrounds. Only then would you have solutions as well thought out and well-rounded as your team.
Bottom Line
The points above form a foundation that can uphold any tech company for a long time. You might have ups and downs for the first few years as a startup. But knowing you’re doing the right things towards a finite goal will keep you waking up zealous every morning.
