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One of the main reasons 42% of startups closed their doors is that they didn’t understand actual clients’ needs. Some failed because they ran out of money while others due to an ill-equipped team. The number of successful overnight business plans without a clear strategy makes them unreliable, significantly reducing their odds of achieving lasting success.
The EVNE Developers has come up with this valuable reference guide on how to start a tech startup that is equipped with the necessary insights, and practical strategies to assist you at all stages of your startup’s evolution.
what’s in the article
- Risks Before Launch Your Startup in 2025
- Early Stage of Tech Startup
- 7 Steps to Start a Tech Startup
- Which Factors Play a Role in a Tech Startup’s Success?
- Conclusion
Risks Before Launch Your Startup in 2025
The importance of launching a business in 2025 has its unique opportunities but also comes with some challenges and risks. The start-up environment is far more competitive than before and new ideas can be met by emerging technologies, changing customer demand, and even shifting regulatory environment. Avoiding these risks before investing in a startup company is vital to ensure your startup’s success and stability.
Here are some key risks to consider on how to start a tech business:
- Market Volatility: The inability to adapt can be attributed to what the market has become and what the customer expects from your product. Conduct market research that will help you understand what is currently out there.
- Financial Uncertainty: One of the key issues that remain relatively consistent is the issue of managing cash flow. Forecast how much money you need for regular spending and emergencies.
- Regulatory Compliance: New laws and regulations are always a challenge, especially in those industries that have embraced technologies at their workplace.Â
- Competitive Pressure: To stand out in a crowded market is tough. Focus on a unique value proposition to be different and valuable.
- Technological Advancements: It may be quite intimidating to try to keep up with quickly changing technologies. Design the overall strategy in such a way that there is the possibility of a shift in the future.
- Team Dynamics: Building the right team is important to grow performance. However, different talents and personalities bring conflicts when not well managed.
Early Stage of Tech Startup
The first two years of any tech startup is the formulation stage where necessary frameworks are developed. In this stage, you will be aware of your vision, business model, and build the framework for the expansion. Large planning and evaluation are important when it comes to the launch and the first results.
Validate Your Startup Idea
Every business idea needs to be tested to determine its potential before great effort and budget will be invested. Interview your targeted audience, gather feedbacks, and evaluate the market’s interest in it to make sure that your idea solves significant issues and is viable.
Create Dedicated Team
Most of the startup outcomes involve the people in the business. Assemble a passionate and highly skilled team that will appreciate the difficulties associated with creating an organization from scratch. If there is a strong and effective team, it doesn’t matter if the ideas are the biggest ones – they can be realized.
Looking to Build an MVP without worries about strategy planning?
EVNE Developers is a dedicated software development team with a product mindset.
We’ll be happy to help you turn your idea into life and successfully monetize it.
7 Steps to Start a Tech Startup
Creating a tech startup is a thrilling exercise that requires a conscious effort and envisaged steps in its implementation. Following these seven steps on how to start a technology company, you can transform your innovative idea into a thriving business that stands out in a competitive environment.
Research the Market
Market research is important for any tech startup. As much as you may want to create a new product or service that will meet the needs of your target market, this will require you to have a good insight into that particular market. Current trends must be analyzed, the competition has to be surveyed, and demand that is not covered must be found. This research will not only confirm your idea but also help you with decision-making.
Create a Business Plan
Having a clear business plan to start a tech startup is perhaps the most important overall plan in your business startup. To be specific, it should include your objectives, the benefits you plan to offer to your customers, how you’ll be making your money, your chosen niche, how you’ll be selling your product or service, and how your business will be organized. A good plan brings focus and a clear course of action for attracting investors and maintaining focus for a team. It also makes it easy to know how to handle possible threats and manage growth opportunities.
Secure investment
Finance is one of the essential factors when it comes to translating the dream into action. Regardless of whether you opt for venture capital or angel investors, bootstrapping, or crowdfunding, you need to develop some of the best elevator pitches. Emphasize your market research, the strategic plan, and the possible returns on investments for stakeholders. It could also add credibility in the eyes of investors and other people that one is serious and mentorship within the startup community.
Build a Minimum Viable Product (MVP)
Building an MVP is one of the best approaches to knowing whether your idea will work or not without risking too much. It is crucial to build a version of the product with the required features of the target audience. An MVP enables you to obtain users’ first impressions of your product and understand their demands, expectations while also being able to make changes quickly.
QA and Test Your Product
A few people understand the importance of quality assurance on the product. Beta checks for the functionality, usability, and reliability of the product to see if there are any problems before a release. Engaging beta testers and the use of their feedback is a good way to gather information about how your product works, and potentially where your business could be improved to achieve success.
Release Early Version
Launching an early version of your product to a chosen audience or specific market segment can be incredibly beneficial. It allows you to get feedback more realistic and make the right decision, if necessary, before launching the final version of the product. An early release also creates anticipation of your product thus creating a market for itself in customers’ minds.
Scale your Startup
Finally, when you have your product on the market, and people are already using it frequently, it is time to grow it. More emphasis should be placed on extending the business and improving its campaigns. Scaling also entails constantly changing to suit the emerging market needs and staying ahead of competitors.Â
Proving the Concept for FinTech Startup with a Smart Algorithm for Detecting SubscriptionsÂ
Scaling from Prototype into a User-Friendly and Conversational Marketing Platform
Which Factors Play a Role in a Tech Startup’s Success?
A lot goes into starting a tech startup it’s about strategies, resources, and implementation. Of course, each business could be different, however, there are certain aspects, that could be considered as crucial for success.
Marketing
Marketing helps you make sure that the right product is placed on the right market. A good strategy entails identifying customers’ needs, creating brand awareness, and using relevant means such as social media, SEO, and paid ads. Awareness and user acquirement are the cornerstones of how to create a tech startup guidance.
Access to Funding
You need financial resources to help you develop and expand in future operations – to be able to create products, find employees, and expand your business. Formation of capital through sales of stocks, or any other way is also very important and needs formulation of a good business plan and capacity to show strong potential for returns.
Technology Stack
This is the set of tools and platforms that will determine your product’s performance and its ability to expand. Selecting the right tools, tech stack and having the right platforms in place makes the whole development process smoother and the final product more functional.Â
Startup Idea
A good beginning is having a solid concept on which to base a startup, and that concept is a viable solution to a need or inefficiency. Finally, it should use innovation and at the same time should be effective and easy to implement on a larger scale.Â
Need Checking What Your Product Market is Able to Offer?
EVNE Developers is a dedicated software development team with a product mindset.
We’ll be happy to help you turn your idea into life and successfully monetize it.
Conclusion
Starting a tech startup can feel overwhelming, but with a solid idea, a well-structured action plan, a clear problem-solving goal through technology, and a skilled tech team, you can set yourself apart in a competitive market and pave the way for success.
At EVNE Developers, we specialize in developing custom solutions for tech startups. This passion for excellence driving a digital and technological focus has enabled us to foster sustainable growth into incumbent startups, acceleration, and scaleups. We are a team of professional and experienced experts who are ready to help your startup with product development and positioning it for long-term success.
The first stage of how to make a tech startup is identifying the problem and idea validation to make sure that the challenges exist and that the target audience needs a solution to it.
MVP means the minimum value product and it is a basic form of a product with the most important features. It is invaluable because it allows such startups to prove the importance of the idea and get the feedback of users to improve the product.
They include mainly security funding; assembling a right and competent team to work on the program; deciding on the most appropriate technology to use; market competition; and being able to respond probably to the changing market demands.
About author
Roman Bondarenko is the CEO of EVNE Developers. He is an expert in software development and technological entrepreneurship and has 10+years of experience in digital transformation consulting in Healthcare, FinTech, Supply Chain and Logistics.
Author | CEO EVNE Developers
