Many of us hear the stories of successful tech startups beginning with a couple of people sitting around a kitchen table jotting an idea down on a paper napkin. But, the hard truth is 90% of technology start ups fail. Why is that? The reasons are as varied as the people attempting the business. For the most part, successful startups remain flexible enough to shift with changes in the technology climate.
So what is the best approach to building and maintaining an online business? As many of the “business failures” will tell you, it is important to understand what you are doing, where you are going, and be flexible enough to change with the market needs. The most important thing is not whether you have a great idea — but whether you can successfully navigate the difficult road of taking that idea to market.
You need to be asking the right questions. Is there a market for this product? What will it cost you to develop the product? What is the best technology platform to use for sustainability and growth? What will it cost to run the business until it becomes profitable ? If someone is not asking you the hard questions and aggressively trying to shoot holes in your idea, they are doing you a disservice and your business concept is likely headed for trouble.
We have helped build dozens of Technology Businesses – from Concept to Market. Our role is to help you see the future of your digital business… and map a pathway forward to success.