BLUEPRINTS FOR THE YOUNG TECH STARTUP
With the rate every sphere of life and business is moving towards business, it is apparent that tech is the next big thing. Governments all over the world are investing heavily in tech startups in order to keep pace with the ongoing global change. If you are preparing to launch a tech startup, you should definitely find something you are passionate about and this might be the guideline you need to get you started.
Live in the future
Every business is meant to have future projections but in the technology sector, it is of great importance because it is a dynamic sector that unfolds new innovation daily. Therefore it is essential that you have plans for upgrade and future innovation alongside your ground-breaking idea.
Have a blueprint
Avoid starting up blindly. Have a blueprint that will serve as a map to whatever you are planning as you set up your business.
Develop a prototype
A prototype is a functional example of what you’re trying to build. So if you have an amazing idea for an app, you need a prototype to show potential users or investors what that app looks and feels like to use. A prototype helps you determine if your product is addressing a real need, and if it’s easy for a user to achieve that user goal.
Scout for your investors and partners
Make a list of about fifty proposed investors or partners and make efforts to pitch it to them. There is a high chance that one out of the fifty might buy your idea. Launch your app or model. Let everyone in your circle know that you have launched your business.
Look for funding
Apply for seed funding, accelerator programs or other entrepreneurial activities that will enable you to get funded. Register your company for equity but be aware that as you move from pre-Seed to Seed to Series A, with every cash injection you’re forced to give up another slice of your company. Offer too little, and the investment dries up — offer too much, and you’ll soon find yourself without a share in your own company.
Two heads will always be better than one
Find a passionate, dedicated and co-founder. If you are worried about what traits you ‘d have to look out for, find someone who has complementary strength, a thirst for knowledge, shared passion, adaptability, serious energy, integrity and honesty.
Place a target of 1000 users
This seems ridiculous but determination can get you there as long as you are a solution provider. Once you get patient zero in the door, it’s important to make sure this user has the best possible experience with your company or product. Getting your first 1,000 users doesn’t happen with a snap of your fingers. By using smart strategy, you can be ensured that your first 1,000 users will lead to thousands more in the future.
Constantly follow-up on your users to gain insight on their experience, launch out again and keep growing.