In the tech world, starting your own business and being an entrepreneur are all the rage these days. Many would-be entrepreneurs get stuck because they assume they need to know how to code in order to build their product or service from scratch. But that doesn’t have to be the case! With some creativity and resourcefulness, you can find the best talent available to bring your idea to life, whether that means working with freelance web developers or recruiting interns at local colleges and universities. Here’s how you can take your startup idea from conception to execution without knowing how to code yourself.
There are many different types of tech startups
some work on mobile apps, some are social media-based, and others use cloud computing. There’s no one way to define what a tech startup is or what it should look like. It could mean making apps or designing software—or something else entirely!
Do Your Research
Don’t rush into things—take your time and do a lot of research on current market conditions, trends, and competition. Doing your homework will help you avoid costly mistakes later down the line. Also: meet with professionals in your industry to get their opinions on business development, growth strategies, and other concerns that may affect your business model.
Have an Idea
It may sound cliché, but it’s not build it and they will come. You need an idea that people will pay for (preferably before you start building). Look at other companies and evaluate their success by what worked for them and what didn’t. Understand which parts of their business model (their product, branding, marketing strategy) you can emulate. Then create your own version with a spin.
Hire the Right People
While you may have what it takes to create a disruptive product or service, that doesn’t mean you know how to run a business. You need an amazing team of people with all sorts of skills and experience who will help build your company and get it off the ground. Once you find these individuals, don’t make them think—if they aren’t pulling their weight in your organization, let them go as quickly as possible.
Know what you Don’t Know (make friends with someone who does!)
Entrepreneurship is all about taking risks, and there’s no more risky a position than believing you know what you don’t know. Think of your success as a numbers game: if you make a million guesses and 999,999 are wrong, and one guess is right, guess what? You guessed right! The key is having people around you who can validate your ideas or at least help guide them in a direction that might work.
Money is one of, if not THE most important thing a new business will need. As such, you’ll need to come up with a fundraising strategy before you even get started. There are a few main ways you can do so: Sell assets (selling old electronics and toys on eBay), family and friends (asking for small investments early on), crowdfunding sites like Kickstarter or GoFundMe, or building an app or software product that sells well.
You know you have an idea for a hot new product or service, but where do you go from there? The first thing to do is talk with your friends and family about your idea and see if they think it’s viable. (If they don’t believe in it, that may be a big red flag.) Then, get as much information as possible about what your market needs. If you’re not sure whether people are interested in buying something like yours, start doing research.
Entrepreneurship is a constantly evolving space. You can’t know everything at once, but you need to constantly keep learning new information and skills to stay on top of your game. As you scale your business, it’s important that you continue learning about your industry and staying up-to-date with current trends.