Coming up with an innovative tech solution to address a social-economic challenge is only the first step in the journey to a profitable business. You need a strong market for your tech solutions, but first, you need that market to recognize you exist to start earning the paycheck out of your product. Below, we will share four tech tips for startups looking to take new products off the ground:
Great Visual Representations
As a startup, chances are high you will need additional funding to get your product into the market. One of the first things you will be doing is hunting down a suitable angel investor, venture capitalists, or credit to scale your operations. The problem with these parties is that they are pressed for time and like most people, their attention span is quite limited. It is therefore critical you create a catchy graphical user interface that will capture attention fast.
On that front, there is a useful online tool Axure used by some of the big corporations including Microsoft, BBC, and Amazon to create wireframes, look at UI issues, and track customer journeys step-by-step.
Data Management and Backups
In their rush to grow their market, many startups drop the ball when it comes to data management. They soon realize the devastating impact corrupted, deleted, or breached data can have on their operations.
That is why we recommend using data management software such as Archiware that automates the process of storing, retrieving, and backing up data for the startup’s processes. Archiware also has various packages tailored to different businesses’ needs.
Outsource some of the duties
Most startups work on a just-enough budget, and it is understandable that the managers want to cut down on expenses as much as possible. Hence, they have a habit of doing most tasks in-house. You find the founder, having a strong background in software development taking up bookkeeping, tax filings, copywriting, and social media management.
That is where you drop the ball. While you might be able to occasionally pull it off, you are bound to fall into pitfalls a professional person experienced in that field will not fall into. That is not to say you hire a full-time accountant, copywriter, and social media manager. You can outsource these tasks to freelancers in some of the leading freelancing markets, where you are likely to find a qualified and experienced professional to handle the task at a fraction of the cost of hiring an in-house professional.
Have a Sustainable Growth Strategy
When things are going right for your business, it is easy to get lured into the ambition of higher turnovers. This is the point you find most startups pushing for upwards growth and start adding more customers. Instead of pushing for outwards growth where they add more value to the existing customer base. The former stretches the firm’s resources thin, while the latter if executed properly is a more manageable growth strategy. As a startup, you need to pay more attention to the regular re-examinations of your existing processes and how you can improve on them. Rather than inventing new processes while there is still room for improvement for the existing processes.
These are some of the critical considerations for a successful start and running of a startup. There are also those we could not delve into details such as staff training, adherence to legal rules and regulations among others. A startup growth, just like any business needs to be deliberate, well-planned out, and properly executed.