When it comes to new business startups in tech industry, there are some assumptions that owners tend to make. Technology businesses are delicate ecosystems that should be driven with a focus on the stakeholders. The connection of the product with the target market should be stressed enough in order to stay away from some clichéd assumptions.
One of the assumptions that tech entrepreneurs tend to make is that if I build it, they will come. Any idea that pops into your mind may not necessarily translate into the next best thing in tech business. This can be understood in regards with the app business. The media and web projects make it seem like it’s quite easy for anyone to make money developing an app.
However, the reality is quite different. You may able to come up with a code that translates into an app and expect it to go viral as soon as you place it in the app market. Unfortunately, this isn’t the way it works.
Technology based business require genuine inspiration that can translate from even the most basic of ideas. Integration is also important with regards to product development. You don’t need to invent something, at times improvement itself is an innovation.
One of the simplest examples in this regard can be that of internet conferencing and how it has been used as an integrated model in a number of processes. This can be seen in the case of project management solutions and other tech based services that provide such communication options.
Another assumption that’s made is that people would understand your idea when they see it. Instagram is a good example of how to avoid such a case. There were a number of apps for sharing photos before Instagram, but they couldn’t excel. But how did Instagram? Filters my friend!
Instagram focused on simplification and feature access not present in other apps. What mattered was that Instagram was able to check in the user’s natural instinct and employed to their benefit. So, it’s important that you don’t underestimate the reluctance of people to learn new things.
The concept of functionality is important, but even more important is that of a minimum viable product. An assumption is that adding more features to a product would attract the user’s attention. No, it doesn’t always and it can actually scare them away. You should instead focus on the minimal set of features that are effective. At times, the overabundance of functionality causes confusion in the mind of the user.
Success in technology based businesses relies on how the entrepreneur focuses more on the response of the people instead of their own pride. Many businesses don’t take off or shut down after a few years because the owner’s enthusiasm is overwhelming.
When you’re pitching the idea, instead of focusing on its ‘awesomeness’, rely on the audience’s response more. At times, you would realize that your idea while seeming great to you, isn’t what the general masses need.
To cap it, don’t rely on the assumption that you can make anything go viral. The ecosystem of technology businesses defines the viral nature as more of a chance than a technique. So it’s not a wise strategy to think that your business can succeed because your product would go viral. A number of cat videos go viral, but some other videos with similar ideas didn’t.
Rely on the concept, not on the chance.
Article contributed by Jenna Smith
