Starting any company is not an easy task, but it is not too difficult that it is impossible. For a tech company, it is no different. All you need is an idea that would float. This is the first step to wherever you intend to go. Every founder of a tech company has been at the position where they were testing and trying to prove their ideas. This stage is a difficult one because, your idea is never complete at the first instance of getting it. So you will always find loop holes and faults until it is good enough for investors to put their money in. They also face difficulties of communicating it effectively to their friends, partners and or or investors. It is difficult because no one can see things the way you see it in your head unless they try to see it in their heads too, no matter how hard you explain. However, founders of tech companies have scaled through this stage severally over the years, so it is not a dreaded valley after all. This is not to undermine the fact that there are more failures of tech company start ups than successes every year, but to tell you that it is not impossible.
So, if there are both multiple failures and repeated successes, how do you make sure you are on the winning team?
A couple of industry experts have researched from real life situations and given these few tips to guarantee success to the struggling struggling. So, with no further ado, here are some things, based on facts and real experiences, that you should know when you want to start a tech company.
- Focus on building a quality product – This might not sound very far fetched, but no matter how watery it sounds to you, you must know that a weak product will soon kill your company. This is because people won’t buy your name at first, they will buy your product. Good quality of products will guarantee long life. Also, maintain your quality and culture regardless of what the customer wants. Don’t compromise quality because you want to please one customer.
- Don’t hire people for your current needs. Hire people who can both meet your present needs and also meet your exclusive for the future. Many tech companies fail because they think too much of now that they forget about the future.
- Choose one thing and focus on it. You might be good a couple of things, but if they do not relate directly to each other, you need to choose one. This is because you need to focus on building something as a start up. If you want to offer services, build that and be a giant at it, you can add products later. Don’t start both at the same time.
Just start. You will fail, but don’t let the fear of failure stop you from starting. And when you fail, don’t quit. Learn, grow and start again.