It is not very easy to set up a tech startup but is a really an exciting affair to accomplish if you have that entrepreneurial fire inside you. There are many challenges and pitfalls startup founders face, irrespective of where they plan to start the business. The tech startup founders may inevitably face issues related to their team, product, legal, sales, finance, operations, and marketing, etc. in addition to taking up the thought leadership of the company.
If you are getting ready to launch a new tech startup or got stuck in with the administration of your running company, here are some tips which may help you to succeed in business.
1. Create a good plan
In the traditional business world, all business gurus will point out the importance of writing down a good business plan. It is highly important that you put down your thoughts and plans on to a paper. Even if you are not able to draw out a clear-cut business plan, try to prepare a presentation of 10 slides or so which define the problem you address, the solution you put forth, and the business model you want to complement. It is ideal to have a route map also as to how you plan to do it, the competitive business landscape, and also further steps.
The reason why you may not need a comprehensive business plan is that you may probably won’t follow it. But still, it is essential to have a business presentation, which won’t consume much of your time, to convince yourself and also someone who is a well-wisher or want to invest in your business.
2. Figure out a proper distribution strategy
Before going forth with an idea, ensure that you identify all possible ways through which you can grow it. If it not an effective approach to have a really good idea, but not having ways to reach to people to make them understand its needs. If you want to grow your business quickly, then first think about how you can reach to more prospective people as possible in a lesser amount of time and with minimal effort.
It is also good to think about how other businesses leverage promising market elements to come to the front. Try to establish a partnership which can distribute or sell your products or services to their customers too.
3. Use law firms which can provide consultant by understanding your startup needs
There many legal services providers whom you can pay on a one-off basis, but the fee may quickly add up if you are not careful about availing such services. The best approach is that you can work with law firms which may agree to defer their fees until you get a return on your investment capital. There are many legal firms which may even cap their consulting fee deferral up to $25,000 even though the cap remains negotiable. Try to find out firms like RemoteDBA.com which offers special startup packages and talk to them to deal with some whom you feel comfortable.
This is an ideal way to save on your budget as a startup when you are functioning on limited resources. In such a deal, the law firms who represent you also want you to succeed and put in their best efforts for that sake in exchange for the fee deferral. More successful you become, larger payout they get a later point.
4. Ensure that you offer something customers want
It is essential to get feedback from customers and do a thorough market analysis before hitting the market. There is no point in releasing a product if there is no one interested in buying it. You may get customer feedback in various forms as verbal comments, online feedbacks, surveys, purchase decisions, and also by using many advanced behavior analysis tools. No matter how you approach it, always make sure that you have a system in place, which lets you get appropriate feedback in order to build a great product and hit the right target audience with it.
5. Ensure that the customers can easily reach you
One major mistake startups make is that they become so impersonal and very inaccessible to the customers. Even when you are at a meager level in the industry, there is no need to be afraid of displaying your personal contact number on website or customer platforms. In the beginning stages of building your brand, you must be thankful to the customers who may pick up your number and talk to you about the product or service you delivered. Through such conversations, you can have a deeper understanding of consumer needs and improve your offerings.
The next big thing in modern-day startup administration is how you manage your database and effective use of valuable business data. Further, in this article, we will have a quick overview of some of the major database management practices for the year 2019 for startup businesses to succeed.
- Automation of Database maintenance
We can see that many conventional database management tasks had already been automated over the last several years. Further, we can expect almost all on-premise databases may get converted as cloud-based deployments. Moreover, the cloud-based deployments also will be automated for hands-free DB management.
There would be lesser involvement of the physical environment and actual database. This will further simplify the reputation management, and the entire database landscape will change. We can see later how the NoSQL databases evolve and largely being accepted by business applications. The concept of data science and data analytics are also getting adopted at a faster pace.
- Database security is more important
We can expect that the security threats will become more frequent as businesses start to realize the value of data. A study revealed that data-related security threats might increase about 100-fold by the year 2025. This may make it difficult for human DBA’s to detect and analyze all the database threats in a timely way. Many of them are already turning to advanced autonomous solutions to ensure database security. Autonomous auditing and database surveillance can identify a lot of issues and filter out the threats at the very first point and address them effectively.
As the data volume grows and businesses need more avenues for data-driven analytics, there can be more innovative solutions for effective database management, which will help DBAs to manage data faster and in a much more secure way to meet the growing business demands.