startup 593304 1280

3 Tips for Launching a Tech Startup

Breaking into the tech industry is an ambitious goal. As the market continues to grow, it’s begun to attract more and more talent. However, a growing market requires a growing workforce so it might be in your interest to develop a tech startup. Of course, you’re going to need to follow some key tips.

From amping up your programming skills to tracking key performance indicators and key results, here are three top tips you can follow if you’re ready to get your start in the tech sector.

1. Goal-Setting

Not only do you need to set goals on a personal level to get your business up and running but each of your team members should have goals too. The best way to set effective goals is through the objectives and key results (OKR) framework. OKRs can work on an individual level or throughout entire departments. OKRs work by tracking a set of key results. Typically, at the end of the quarter, you’ll use OKR software to evaluate the performance of your key results and reshape them according to best practices.

The OKR methodology has key differences from other metrics-tracking efforts. The use of OKRs is strictly focused on goals and keeping a balanced scorecard of overall performance. Whether it’s a stretch goal for the end of the quarter or individual OKRs, using this goal-setting framework can put your tech startup in a great place.

goal setting 1955806 1280

2. Stronger Programming

Familiar with Python? Can you handle a NumPy reshape in your sleep? Do the terms “NumPy,” “tuple,” or “C-like index order” intimidate you? If you have mixed answers to those questions, you may want to amp up your programming game or find a team member who can. Especially if you’re developing applications or software, understanding a sliding scale, multidimensional array, and the reshape method can benefit you greatly. Of course, not every tech outfit needs to know Python, per se, but the benefits of NP can help you achieve other programming related business goals with ease. If you can handle an original array, alter the shape of an array, and the length of the array, you’re in pretty good shape. Of course, there is any number of elements that can go into a NumPy reshape but a solid grasp of the syntax can prove incredibly beneficial.

If you’re not sure where to start, there are plenty of courses you can take. Whether you’re partnering with an instructional firm to learn about a Fortran-like index order or you have more ambitious goals, some ongoing education can help you get your business in top shape.

3. Business Planning

While goals and the OKR process are important, there’s more still that goes into your overall business planning. From calculating overhead costs to equipment and supply expenses, you need to ensure your business plan is crafted to a “T.” If you’re seeking outside investment assistance, this becomes even more important. While you need to have a strong proof of concept, this isn’t everything that goes into your planning phase.

You need to account for details, consider how the original shape of your business might change over time and have several contingencies in place. Since today’s business landscape is both competitive and currently unstable as a result of recent events, it’s important to be as prepared as possible.

A tech startup can be a high-risk, high-reward endeavor. It requires a great deal of forethought and precise planning. You need to make sure that your skills are up to muster. You also need to do some concise goal-setting and have future plans laid out so you have an ongoing roadmap for success. If you check all these boxes, you’ll be in good shape.