The Leadership Stack Podcast

Ep: 361: Before You Get Into Tech Business, Do This


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Sean: What are important things to consider if you are planning to start your own tech business?

Edwin: I mean, that's a great question, Pam. I mean, I would have to - that's a whole can of worms. I'd be asking you, Pam, like, what's the tech business? Do you know? Are you a tech founder or are you looking to partner with a tech founder? I guess depending on those answers, you know, understanding where you're fitting this technology in, you know what the pain points are, how did you find those pain points? Where were you connecting with?

Edwin: At the end of the day, whether it's a tech business, a service business, you got to know that there's a need for it and you're filling a gap, because all of us have a billion ideas and whether it's technology or service or whatnot. And we got to make sure that it works well. The challenge, if you're not tech, is finding a partner or someone to help you develop your MVP. Having said that is, if you want to build out an MVP, you don't need to know code anymore.

Sean: Really good stuff. Like Edwin, it has to boil down to what kind of tech business you are planning to start. It's hard to answer this question with just an open-ended, vague assumption that is any tech business because there are just so many tech businesses that you can start today. So many problems you can solve.

Sean: It's going to have to be number one, can you be the best in something in that tech startup that you're going to try to get into? So what is going to be your number one-shot or number one feature if you want to try and go head to head with these other startups because it is a global business, when you start a tech startup, if it's a software as a service business, it is on a global scale and platform, and you're going to have to compete on a global scale.

Sean: And competing globally is very, very tough. A lot of players don't play fair, they don't play nice. I've had the experience of starting a SAS business - Qeryz. It's still up, it's still running. We still use it and a lot of our clients use it as well. And my experience in running that, there's just so many dirty players that you're going to have to go up against. And I'm sure Edwin you've experienced your fair share of that with Slingshot VOIP. So that's something that I would strongly consider. Like, what can be the best? Like who's your target market? Are they startups? Are they scale-ups? Or are they at the big enterprise level? And what will these features fit very well with them?

Sean: So there are so many factors we could go on and on, and Edwin mentioned is a can of worms that you're going to be opening. Yeah, that's true. So qualifying the question further would help a lot. If you're still in discord, you might want to qualify it further so we can help you out better. But otherwise, for me, it's going to be like, what's that one thing you can be the best at when you're starting your tech startup?

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The Leadership Stack PodcastBy Sean Si

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