So you have an idea to start up a technology business to provide a new service to potential customers. However, there is a problem; what are the most important things that you need to put together in order to give your new business a chance of success? Well, while this article will not tell you every single thing you need to know, we attempt to give you three things to include in your business plan.
Your idea might sound fantastic right now but then again so does having a gold plantation. However, what is even more important is choosing the right niche, market, call it what you may. Unfortunately, easy as it may sound finding the right market to ply your trade could be a very difficult task. First, you have to make sure it is in an area that interests you and that you know a lot about. But wait a minute, that is the easy part! It should also be a market that is not saturated. Yes, developing a business in a saturated market is like trying to buy an empty plot of land in erm…New York? The potential of being successful in an already saturated market is little or next to none.
Oh yes, the big C word. Pretty much every business needs capital to succeed. However, the scale of your business would determine how much capital your new business would need. Unfortunately, not everyone has the privilege of being sponsored by rich parents, a sugar daddy or charitable entrepreneurs. So the advice is, as the saying goes ‘cut your cloth according to your size’. With time your business can grow bigger but try not to be over ambitious at first. For example, you can open a Cyber Cafe in a small shop in a small town where you can afford to pay your rent and buy a few computers. This will help you to probably begin by making some profit before eventually expanding to the mega Cyber Cafe of your dreams!
Last but not least, how do you make sure your potential customers can contact you without hassle? Good customer service? Maybe. A toll free number? Yes. For example, in the United Kingdom a toll free number may be 0800 numbers while in the United States toll free number are usually 800 numbers. This is actually an important aspect in any start-up business and a technology business shouldn’t be left behind when it comes to being readily available to customers on the telephone. One thing is sure, while the big multi-national corporations may not be able to provide good customer services to their clients, a start-up business shouldn’t be found wanting in this area.
What else does a (tech) start-up need?