Published on July 26th, 2016 | by Jose Vasquez0
The 3 Most Important Factors for Startup Tech Company Success
Because so many startups end up failing, it’s important to acknowledge the most important factors for success.
Everyone wants his/her tech startup to succeed, but the unfortunate reality is that the vast majority of startups are going to fail. Sometimes, it’s due to an unexpected accident or coincidental occurrence, sometimes it’s because of an infrastructural component that was flawed from the beginning, but usually, it’s an entire collection of factors working together to bring a startup’s momentum to a grinding halt.
I’ve written about these potential and common failure points before, but today I want to focus on the reverse side of the equation—what is it about successful tech startups that make them successful? There are dozens, if not hundreds of potential factors here, but I’m going to focus on the three most important ones:
- Even more important than the nature of your idea is the timing of your idea. If you come to the market with an amazing solution before the market’s ready for it, you may fail to generate interest. Come too late, and the trend you’re targeting may have passed. There’s no easy way to gauge the timing of your idea, but it helps to look at some of the breakout tech successes of the past and how and when they managed to launch.
- Coordination applies to many different areas. You need to have a coordinated plan of execution for your idea, coordinated team members working together to oversee those plans, and a coordinated system of follow-up to make improvements. It’s all about planning, foresight, and working together.
- Finally, your startup needs to be adaptable. No matter how extensively you plan, things aren’t going to go the way you think they will. New threats and opportunities will emerge, and you need to be flexible enough to change and accommodate them.
These are the three most important factors to startup tech company success. If you can embody them in your own enterprise, you’ll have a much higher chance of achieving your goals. If you feel stuck, or if you don’t seem to be making progress, be sure to contact me! I’ll be able to point you in the right direction.