Over the past years, digital companies have seen unprecedented growth as a result of the pandemic. With everyone's increased reliance on digital technologies, there are enormous opportunities in the market for emerging software-based businesses. However, the biggest hurdle for non-technical founders is finding a way to deal with the technical aspects of their newly-found software company. Here are five tips that will offer guidance to entrepreneurs who don't have a technical background on how to build a successful tech start-up which is as follows:
Usually, non-technical founders come from a business background which enables them to leverage past experiences and connections and use them in their new business venture. A successful start-up not only requires a good product but also a scalable business plan that would ensure the longevity of the company. To do the same, one must think big, start small, choose the right market and have a clear vision of who your target customers are.
If there's one thing to know about building a digital product, it is that it requires continuous development and refinement based on user feedback. It is important to look at it as a journey rather than a project with a 'Start' and 'End' date. It's important to make the necessary investments to ensure that you have a dedicated team in place to keep the whole operation running through its various development stages. One must set small milestones along the way that could help you stay focused and keep you motivated for the long journey that lies ahead.
Your job as a founder is to convince people that your idea is not only good but it's something worth spending money on. While you wait for your product to be built, start by selling it to prospective customers. In that way, when the time comes to launch, you'd have a customer base to tap into. One can make use of anything ranging from modest mock-ups to PowerPoint slides or an MVP to demonstrate to your audience what your company is all about. By doing so, you'll also gain valuable insights into what your customers want and how much they are willing to pay for it.
As a founder, it's your responsibility to find potential customers for your product. It's easy to fall into the temptation of doing everything yourself when trying to get your start-up running. That's where hiring the right talent comes into the picture. It's recommended to give your technical team clear guidance, collaborate, build trust and let them work on the solution while you focus on securing investment for your start-up.
As a non-technical founder, one must ensure that your start-up has all the necessary funds and resources to sustain its development cycle. To do it efficiently, you need to create realistic goals and set achievable milestones to do everything possible to outperform.
Regardless of the product or service, the earliest stages of any start-up are often challenging. Being a non-technical founder doesn't restrict you from building a successful tech start-up, but it's highly advisable to partner up with someone with the required skills and knowledge to fill that technical gap. Once done with it, you can play on each other’s strengths and start focusing on building your business.
Author: Martin Sandhu