Over the past year, digital companies have seen an unprecedented growth as a result of the pandemic. Combined with people's increased reliance on digital technologies, there is a clear opportunity on the market for emerging software-based businesses. The biggest hurdle for nontechnical founders, however, is finding a way to deal with the technical aspects of their newly-found software company. Here's five tips that will offer entrepreneurs who don't have a technical background some guidance how to build a successful tech-startup. Ready? Let's get started.
1. Target the right market.
Usually, nontechnical 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 startup does not only require a good product but also a scalable business plan that would ensure the longevity of the company. To do that, you need to think big, start small, choose the right market and have a clear understanding of who your target customers are.
2. Be prepared for the long journey ahead
If there's one thing to know about building a digital product is that requires continues development and refinement based on user feedback. Look at it as a journey rather than a project with a 'Start' and 'End' date. Be prepared 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. Setting small milestones along the way could also help you stay focused and keep you motivated for the long journey that lies ahead.
3. Don't wait! Start selling!
Your job as a founder is to convince people that your idea is not only good but that is so good that it's worth spending money on. While you wait for your product to be built, start selling to prospect customers - that way, when the time comes to launch, you'd have a customer base to tap into. You can use anything ranging from simple mockups to PowerPoint slides or an MVP to demonstrate to your audience what your company is about. By doing so you'll also gain valuable insight into what your customers want and how much they are willing to pay for it.
4. Know your strengths
As a founder, it's your responsibility to get the word going and find customers for your product - it's not to micro-manage. It's easy to fall into the temptation of doing everything yourself when you are trying to get your startup up and running. That's where hiring the right talent comes into place. Give your technical team clear guidance, collaborate and build trust and let them work on the solution while you focus on securing investment for your startup.
5. Underpromise and overdeliver
Your #1 priority as a nontechnical founder is to ensure that your startup will have the necessary funds and resources to sustain its development cycle. To do that efficiently, you need to create realistic goals and set feasible milestones you'd want to do everything possible to outperform.
Regardless of the product or service, the earliest stages of any startup will be challenging. Being a nontechnical founder doesn't mean you can't build a successful tech startup, but you do need to partner up with someone with the required skills and knowledge to fill that technical gap. Once that is done, you can play on each others' strengths and start focusing on building your business.