If you’re thinking of starting your own tech startup, you aren’t alone. There are a lot founding tech startups, but only a few of them will succeed.
If you’re interested in the startup world, you know how grim the success rate for new and small business owners can be.
The failure rate for all US companies after 5 years is 50%, and the number shoots up to 70% after 10.
Those numbers may seem grim, especially if you want to start a business in a sector you’re not familiar with like tech.
If you’ve been wondering how to start a tech startup, you’ve come to the right place. I’m going to tell you everything you need to know to build a tech company with no technical experience.
Some of today’s biggest websites and digital products all started as side projects and startups.
A few companies were started by people with a technical background, but many others were founded by business-minded people with an eye for a good idea.
Ready to learn the secret to building a thriving startup? Follow the advice in this post and you’ll be well on your way to success.
If you want to build a successful tech startup without a technical background, you’re going to need someone with the knowledge you lack.
Hiring an expert in the platform you want to build on or with the technical expertise you lack is crucial. They’ll be the one that will help launch your product or service, and they need to have a deep understanding of the technical side of your business.
Keep in mind that there is plenty of nontechnical work that will need to be done to help your startup succeed.
Startups will need someone to handle research, raise funds or find investors, recruit coders and designers, manage product development, and handle marketing and PR.
There’s a lot that needs to be done, and you may not be the right person to do it. If you invest in finding the right people for your startup and you’ll be able to create a successful business you’ll be proud of.
You’re interested in founding a tech startup, but you’re not intimately familiar with the world of tech. Before you start your business, spend some time getting to know the market and where your company can fit into it.
Figure out what current problems or challenges the technology your startup is built to solve. See if there truly is a problem to solve for, or if you’re just creating a solution to a problem that doesn’t exist.
Research what people are willing to pay for the tech solution your company offers. You could be selling enterprise software that costs several thousand dollars, or an app that’s free to download but generates revenue through micro-transactions.
Doing this research can provide invaluable insight into the profitability and sustainability of your startup.
Even the most efficient and cheapest tech startup is going to require money to get off the ground. Some business can spend as little as $10,000 or as much as $125,000 on equipment costs alone.
Costs can build up fast when you’re in the planning stages. That’s why it’s important to secure money to fund your business as soon as possible.
Ideally, you’d find an angel investor or some other kind of backer to fund your company. If you want to find backers, get help forming a solid business plan to show potential investors how you plan to make back their money.
When you’re planning a tech startup for the first time you may think that your offering needs to be as elaborate as possible.
Don’t let your business concept accidentally snowball into something overcomplicated. It’s too easy for tech startups to end up creating something that’s expensive, elaborate, and has no interest from consumers.
When you’re planning your products and services, start small and narrow your focus. Your main goal should be to create a simple, quality good or service, not show off a flashy or gimmicky idea.
Nobody is expecting you to become an expert on tech, but it’s a good idea to learn some light technical skills if you want to have a tech business.
Knowing a little about certain languages makes it easier to understand certain technical concepts when you’re discussing the product with your developers in the early stages of product development.
Consider using a site like Udemy that has online classes you can take. If you’re serious about beefing up your technical knowledge, consider going through a boot camp to immerse yourself in a tough subject.
Want to know why so many tech startups end up going under as fast as they began? Their founders made the mistake of investing tens of thousands of dollars and hours into software or digital products that the market doesn’t care about.
Doing market research can help avoid this problem, but the best way to test your product is pre-sell it before you truly launch.
Selling your product to a small number of people before you go public is a great way to test your product.
A small product pre-sale can help you identify and define early adopters, test features, and identify and solve problems before you do your actual launch.
Now that you know how to start a tech startup, you’re ready to get some help building your successful business.
Do you want some help planning your startup and validating some of your ideas? Are you looking to connect with other like-mind entrepreneurs? If so, it’s time to reach out.
Contact me today so we can start a conversation on the best ways to make your tech startup a reality.