How to Start a Tech Startup: 10 Starting Steps
A tech startup is a company working with the purpose of bringing technology products or services to the market to solve problems where a solution is not apparent. There is a big difference between having a great idea of a start-up and turning the concept into a sizeable and working start-up.
Starting a tech startup is not an easy task. It takes much money, hard work, dedication and some sleepless nights too. Even after all this, there is no guarantee you will succeed with the first attempt. Having a guide and a set of instructions on how to start a tech startup goes a long way in helping you get started.
Here is a guide on how to start a tech startup:
Step 1: Come up with a Tech Startup Business Plan
In order to start a tech startup, you need to develop a business plan first and foremost. A plan is typically supposed to outline the first few working years of a company. It may be defined as a written prediction of a company’s future and may include the strategies you intend to put in place to get the company’s operations up and running and sustain them over some time.
Step 2: Secure Appropriate Funding
Capital is essential in starting any type of tech startup. A company may require more or less funding as the costs vary from industry to industry. The initial cost estimates are often lower than the actual cost of doing business. You may need to look for investors willing to provide you with funding, or seek business loans and financing methods with reasonable rates.
Step 3: Name Your Company and Get a Domain
Naming your brand is the next step on how to start a tech startup. When picking a name, make sure it is simple to remember and spell. As challenging as it is, having few syllables will help boost creativity. An excellent example of such a company is Google. Having a matching domain name is inconsequential. The domain name should emphasize what the company is and does.
Step 4: Design Your Company Logo
Logos carry a whole lot of meaning, even though most of the time they are just small images. The logo should be a clear representation of what you have to offer. The design greatly impacts how customers perceive a given brand. When designing a logo, make sure it is original to avoid being marked for copyright infringement. It should also be unique and easily recognizable from a crowd.
Step 5: Launch Your Site
The company logo and a clear description of what the company is offering should be on the landing page. It is not mandatory to launch your landing page after your product is built. However, if you do, disclose as much information as possible on what you offer to keep customers in anticipation for the next product release.
Step 6: Create a Company Blog
A blog is your mouthpiece to the rest of the webbed world. It features news items, content marketing articles, among others. The blog should ensure that the reader receives insightful and useful information. Work out who your consumer is to create targeted content that attracts relevant traffic to your blog. It should be easy for the audience to use. Combined with various key topics, podcasts, and presentations, a blog is your tool for connecting and establishing trust with the consumer.
7. Survey Your Customers
A survey is one of the most effective ways of determining consumer wants. The questions should be short (up to 10) and should generate useful answers. Personal interviews with customers are known to give valuable insights into how the consumer has received the product. Conducting usability tests is another way of finding out how the consumer interacts with the product.
8. Map Your Product’s Features
Construct a product road map to demonstrate its position in the market. The product should focus on its overall purpose. Understanding the purpose of a product helps you to create a product that is responsive to the market.
9. Create Wireframes and Mockups of your Website
It is crucial to provide detailed annotations for every facet of the wire frame. You should include text in the dummy boxes to give you an idea of how much text should be on the site. If you want to turn your entrepreneurial idea into a money-making document, give your designer a sound wireframe as the core document.
10. Launch Your Company
Even if your product and website are not 100% complete, launch and tweak them as you go along. Collect and analyze data and then refine it as need be. Improving the offered product is an ongoing process; the earlier you start, the better.
Is your idea worth turning into a business? If it is, then you need a plan on how to go about launching a new business. Your startup does not stand a chance without proper financing. It would help if you surrounded yourself with like-minded people. A key thing to note is that it is never too early to start marketing your startup. While establishing a startup is not easy, if you follow the above 10-step process, there will be fewer potential hurdles to jump.