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May 6th, 2021

Tips for a Successful Tech Startup

The tech industry is booming at a great pace, especially with everything going digital due to the Pandemic. One has to agree that there’s a lot that goes into building a successful tech startup. It may seem easy from afar, it can be quite a formidable journey. From conceiving an idea to finding ways to implement that idea, learning a few business tips to finding a team, it’s a tall order.

These tips will help you find your voice amidst the sea of tech startups

Define your startup’s purpose. Build your brand around that purpose

  • To receive success, you must strive for excellence. Find a niche that you can satisfy. What will your tech product do? What kind of need will it fulfil? These are the questions you must answer to find your perfect fit.

2. Innovate. Innovate. Innovate. Get started on your Tech Product

  • Once you have thought long and hard on your brand’s purpose, innovate with your team or find a Professional Team of people who can help you create the product. However, don’t disregard Business Needs.

3. Business Needs

  • You must always remember the foundation of your startup, and a few fundamentals such as:
  • Learn about workflows and how they operate. See which one would fit your requirements.
  • Identify the scope and limitations of your startup.
  • Use a variety of project management tools to find the ones that suit your needs.
  • Develop a good business and financial plan.
  • Create your business plan with what you want to do and how you can make that happen.
  • Use realistic goals. Take the first 3-5 years into account while using milestones for set periods and define a way to achieve those goals.

Also, consider your competition slide.

4. Build your team and stretch out as much as possible.

  • A business is not just dependent on one person. It needs a team of people supporting it like pillars of strength. Whether it is Automation Testing Services, Mobile App Testing Services or even Manual Testing Services, it is okay to outsource and find people who can make it work a little better for you! At TFT, we do just that! A lot of our clients trust us with their Tech Startups, and we give them a reliable and quality assured product.

5. What’s #Trending?

  • It is very important to stay on top of all kinds of trends. The world is advancing at lightning speed! Ranging from trends in technology to social media, it is important to see if your startup can fit into what is trending as of now.

6. Be accessible and customer-oriented!

  • In the latest article, we talked about how you need to stay updated on what is and isn’t trending. Similarly, it is through trends, that you need to make sure you are accessible to your target customers. A business is not deemed successful with one good sale but when that one good sale keeps repeating itself. If the customer is not satisfied, make sure some sort of compensation is in place.

7. Network as much as possible

  • There are so many aspects to a business and it is important to make sure that you make contacts who can help you one way or another. This is how a business expands and grows. Know your market, your advertisers, and see what works best with the contacts you have,

8. Hire a team that leads!

  • When it comes to networking, it also means finding not just a good but the best team that works efficiently to meet the same goal. Sometimes, it is extremely hard to find the right people with the right skill-set. That is one of the main reasons we have a team of IT & Tech professionals who have a wide range of skill set, including Offshore Testing Services and Outsourced Qa Testing.

9. Know your competition.

  • You must have all the knowledge of your competition. Take Mark Zuckerberg for an example, he made a premium app (Facebook), following which he took over all the competition that was getting the same or more traction than his original idea. You can only play a move like this when you understand the ins and outs of all your competitor companies.

10. Lock in some funding

  • To scale the company on your terms and for expansion, you will require some funding. Like we mentioned in the first blog, financial planning is a must because raising funds for your startup is quite a challenge.

These were a few tips that shall enable the journey towards a successful Tech startup. Everything will not be easy breezy, however, if you fall seven times, you ought to stand up the eighth time. If not, we provide Technology Services that shall overcome all Business Solutions. We brainstorm your business problems, arrive at the solution framework, deploy the right blend of technical resources, and therefore provide optimal delivery at every step of the project implementation.

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