There are many ways to begin an IT startup, but many will avoid things that will lead them to much slower growth, or in the worst case, no result at all. We decided to write about five mistakes people often don’t even consider, so you can pay attention at the very beginning and have a bit easier journey towards building your business.
Putting everything on paper – and doing nothing
It’s hard to put on paper all ideas you have in mind, but after you finally did it, do you start working on them? It includes revising what you wrote and finding at least three solutions to one idea. It means knowing where you can find an expert, start building a product and how much money it will cost, as a simple example. You want your customers to be happy with the final product/service, but that doesn’t mean you shouldn’t think about what you would like in the first place. Naturally, your audience is essential. We will cover it as well, but you should focus on starting as soon as possible. We mean that isn’t starting as soon as you write down a result of simple brainstorming, but if it has been a year and you still did nothing but you are talking about it, it’s high time you started or left it. If you don’t do it, someone else will come up with the same thing, while you are waiting for the “perfect chance”. Hate to break it down to you, but perfect opportunities don’t exist- you have to create them by starting.
Finding your audience
You might have launched your startup, but nobody wants to work with you. You did everything, from advertising to creating profiles on social platforms that are quite attractive. What might be the problem? Although you are an IT startup, you didn’t focus on your target audience before starting your business. It’s essential to have feedback and have a vision of who you want to use your services. Who do you make it for? What do you want them to be like? It seems trivial, but in the end, it is what makes or breaks everything you made. If the audience can’t resonate with you, that means you don’t have the audience, and you won’t have any customers.
When starting a business, especially a startup, delegating is important. You are not a machine that can download any knowledge necessary and instantly implement it. You are starting for a reason, because you are the one with the idea, drive and willingness to take on the role of CEO, which is not a small thing to do. You should be part of the process outside of it, but that doesn’t include calculating income, being in charge of every social platform etc. That’s why you hire people. You hire people if you are not good with finances or don’t have the time to deal with it because you have better things to do to help your company grow. And this can happen only if you are ready to admit you can’t do everything independently. Delegating will take you faster where you want to be.
Knowing how much to invest
Starting an IT startup is not like starting any other type of business (or a startup as well. You need to know how much you can invest, where you can find investors, and if there is a chance of your bank helping you with the process. It is a touchy subject, but at the beginning of every startup, it is expected that resources are minimal. It doesn’t mean you can’t produce a quality product, but it means you will know exactly where to put every penny you have, invest or gather.
Lastly, people forget startup isn’t a source of passive income. If you created a business, have people working for you, and it’s a type of service, you will constantly need to improve by observing analytics, listening to what customers have to say, and finding a good middle-ground. As your business grows, it will change as well. It doesn’t mean your idea isn’t good enough – it means it got a chance to become even better.