Author Topic: Would Like to Start a Tech Business, Where Should I Start?  (Read 1035 times)

Alchemisst

  • 5 O'Clock Shadow
  • *
  • Posts: 67
Would Like to Start a Tech Business, Where Should I Start?
« on: April 25, 2019, 09:00:26 PM »
I have been interested in getting into tech for a long time but am unsure what is the best path to take/ type of business would be ideal, has anyone done this or have any advice?

Smokystache

  • Bristles
  • ***
  • Posts: 327
Re: Would Like to Start a Tech Business, Where Should I Start?
« Reply #1 on: April 27, 2019, 08:25:35 PM »
You're going to have to be much more specific to get some replies. What kind of "tech"? Build satellites to launch into space or make an app that tells you what kind of wine to drink with swiss cheese?

Radiowave

  • 5 O'Clock Shadow
  • *
  • Posts: 13
  • Location: USA, New Jersey
Re: Would Like to Start a Tech Business, Where Should I Start?
« Reply #2 on: May 08, 2019, 07:31:35 AM »
I agree with previous response, can you add more details to your question? The tech business can cover many spheres/products/services so it's really hard to recommend you something certain.
I can share with you only basic things for starting any successful business:
- define your goals clearly (you need to understand really well what you're planning to do and how you can achieve your goals)
- choose your certain sphere of work (for example, do you want to sell gadgets? or to develop new apps/software?) and prepare a well-made business plan (it's one of the most important things for starting and running your business https://smallbusiness.chron.com/importance-purpose-business-plan-760.html later because it'll be your basis for a long time)
- research market and analyze your competitors (for example, is there a target audience at all for your products/services? which pros and cons your competitors have, which ones you can use too or present something unique?)
- create a professional work-team with a well-developed management system
- advertise and build network of your clients/customers (identify your target audience https://promorepublic.com/en/blog/10-ways-find-audience-social-media/and choose a marketing strategy which will work the best for it, try different such stragies and combine them, for example you can effectively use seo optimization tools and social media marketing)

Also do you have a start capital? It's necessary for starting many types of business too.

MaaS

  • Stubble
  • **
  • Posts: 130
Re: Would Like to Start a Tech Business, Where Should I Start?
« Reply #3 on: May 10, 2019, 07:46:10 AM »
Starting a SaaS company is trendy, but quite of few of them really shouldn't exist. A majority aren't profitable and may never be profitable. The reasons are ridiculously high customer acquisition costs and pointless feature arms races. People have completely lost sight of how risky funding driven growth models really are.

Do yourself a favor and start an online services company helping others utilize tech. The profit margins are much higher.


Severian

  • 5 O'Clock Shadow
  • *
  • Posts: 27
Re: Would Like to Start a Tech Business, Where Should I Start?
« Reply #4 on: May 11, 2019, 08:26:47 PM »
I have been interested in getting into tech for a long time but am unsure what is the best path to take/ type of business would be ideal, has anyone done this or have any advice?

Do you have any experience or expertise? I've been pretty successful at times running a small software consultancy (and less successful at other times,) but I had a few years of school and a decade of experience behind me, and I was known for my skill in certain niche areas, which attracted clients.

"Tech" is an appealing area at first glance, as there's money to be made in it. But it takes the better part of a decade of work in the field to be skilled enough that you have something more to offer than everyone else who thinks tech looks appealing.

sideHustler

  • 5 O'Clock Shadow
  • *
  • Posts: 17
Re: Would Like to Start a Tech Business, Where Should I Start?
« Reply #5 on: May 12, 2019, 04:13:21 PM »
Do you have any entrepreneur experience? The first thing you need to do in most enterprises is figure out who you’d like your ideal customer to be and then figure out a problem they have that you can solve.

If you want to be in tech, find out who uses the tech first and go from there.