Have you ever thought of building a tech company for your startup, even when you lack the necessary background? If you have a dream to build the next big app or web startup, you’ll need to know what it entails. The things that no one will tell you about, that you can learn only through experience.
1. Outsource and build the product in-house
Consider outsourcing the first version of the product, and once you have product/market fit and validation for your idea, hire developers in-house. Certainly, the benefits of hiring your own developers are considerable, because you can continue to iterate on the product as you keep building and shipping. However, the costs tend to be high.
2. Don’t find a tech partner through Google search
Most entrepreneurs will typically do a Google search to look for companies to either outsource the complete project or hire developers. But that’s often a bad way to find the right tech partner because the companies that come up in the first few pages of Google searches are not necessarily great tech companies; they’re just good at search engine optimization. Often, the good ones remain hidden on Google searches.
Find out about such companies through references.
3. Know a bit of coding
It’s really tough when you don’t understand any coding. Although that’s not imperative, it definitely helps to understand the concepts on your own when discussing the product with your developers in the initial stages.
Take an online course on Udemy and learn the fundamentals, based on the programming language of choice.
4. Hire in-house eventually
When you’ve achieved market fit for your product, and yours is a technology-first startup, it always helps if you build a team in-house to continue with the product.
If you’re an existing business that is leveraging technology to reach out to a new customer segments, unless the tech product becomes the core of your business, you should continue to keep the tech outsourced.
If you’re going in for venture funding, however, your investors will require you to keep the product development in-house, to assure security of IP.
5. Use existing resources
Too many people make too much about raising initial funds to build their startups. A great way to get started is to build your product as a side project, while you’re in a job and still earning.
When you’re starting small, you can really focus on the best basic ways to solve the problem for a customer. Again, once you have validation of your idea, you can gradually invest in your product’s future iterations.
6. Don’t use social media to acquire customers
Good marketing starts with identifying your customer segment, then identifying channels where your potential customers hang out. And while your potential customers may indeed hang out on social media, the reason they visit those networks isn’t to engage with brands or products.
Aside from early customer acquisition through social media advertising, social media should be used as a place to get feedback– to learn, listen, understand what the market wants and needs.