Gone are the days when STEM was viewed as a man’s job. This year, women comprise almost 30 percent of the workers who are in the field of science, technology, engineering, and math. In the US alone, 57 percent of professional occupations are held by females. If you are a woman in the technology sector who has always dreamed about running your own tech company, wake up, plan well, and work hard because you can turn your visions into reality.
The gender stereotype monster is being broken every day, so you can quash your fears and certainly start your own tech company whenever you want. Remember, many broke college students stretched dollars to create their own successful tech startups. Consider the following tips below, so you can finally lay the groundwork to start your own dream business and keep it running well.
Build a Solid Product for Your Niche
There are many tech competitors out there, and the market is already saturated with products. It is vital to discover your niche and what sets you apart from the other technology companies. Know your product and how it can address the needs of your clients. Develop this product so that your clients will find it an indispensable part of their life. Studies show that the product makes up 30 percent of the total long-term work required, while the other 70% is the different parts of running a business like sales, marketing, etc. Focus on your product, and it will guide you in your decision making.
Get Funding for Seamless Execution
There are a lot of funding options that empower women entrepreneurs. You no longer have to rely on just your local bank for commercial business loans that need a lot of requirements, levy many fees, and offer a considerable interest. These days you can tap into various funding resources to improve your product and execute your business plan.
There are federal grants, venture capital investments, funding resources specifically for women, female small business lending, non-profit foundations for women empowerment, and more. All of these funding sources acknowledge the power of women and their capability of helping shape the future of tech.
Source Talented Staff
It would be best if you had talented team members to help you at the beginning stages of your product development. Moreover, it would help if you also had additional helpers to aid you in your company growth and expansion. Whatever stage of business, the point is you need extra hands to help you build your tech startup from the ground up.
Most new businesses just hire for their current needs due to budget constraints. However, it is also vital to consider talent that can address your vision. After all, your primary goal is business growth, so you cannot be shortsighted when it comes to your staffing concerns.
Leverage Technology Partners
Right now, the world is full of successful technology companies that are willing to forge partnerships. If you are a new company, you will benefit from the mentorship of more established companies. A partnership can be beneficial as they provide the much-needed backing to help you scale your business and expand your client base.
Focus on Marketing
Building the product is hard, but selling it is harder. You may have the most exceptional tech product in the world, but if your clients don’t know your company exists, all your efforts are wasted. Marketing is an essential part of business, whether new or old. Rock-solid marketing strategies can spell the difference between your business’ growth or its death.
After putting a lot of work building your tech product, you do not want your venture to fail. Investing in concrete marketing strategies to drum up attention and boost sales is a crucial component to your success. If you don’t have a lot of extra money to burn for marketing, especially if you are a newbie, then you can use affordable funnels like Facebook groups, Slack channels, Reddit, and the like. The key is to make a lot of promotions so your clients will know where to find you.
Final Word: Stop Dilly-Dallying and Just Start
You may have a lot of reservations about starting your own business. It is natural to do your due diligence by researching the industry. You also foolproof your vision by making a business plan. However, if you have done all these things, quell the fears and worries in your heart. Just start!
Sometimes, you need to push yourself to do what is uncomfortable so you will grow. Every single person that started his or her own business began with butterflies in their stomach. It is normal to feel nervous because you are investing so much time, money, and effort. But what separates the dreamers from the successful entrepreneurs is that these women overcame their fears and started.