Published on March 4th, 2014 | by Jose Vasquez0
The Art of Reinvention in Startup Tech Companies: Starting from Scratch
Sometimes, no matter how much effort you put into building your startup tech company’s main idea, you’ll be faced with tearing it down and starting from scratch.
Whether you’re creating an app, a product, or some tech-based service, eventually there’s a chance you’ll hit a wall and be forced to readdress your goals and intentions. No matter how thoroughly you’ve planned out your creation and execution or how awesome you think your idea is, after a few months new factors might make you realize that your idea isn’t going to work out the way you expected.
But how can you tell if that’s the case, and what do you do if it is?
Determining It’s Time to Start Over
Just because it didn’t work out as you originally thought doesn’t mean it’s an idea to be scrapped altogether. Consider the following questions:
- Is there an inherent flaw in your product? Is there something you overlooked keeping people from engaging with you? If so, it could be time for a fresh start. If not, take a look at what other factors are limiting your growth.
- Is your market research accurate? Perhaps demand isn’t as strong as you thought, or perhaps you’re targeting the wrong demographics. Consider a demographic shift before starting over entirely.
- Would a marketing push provide what you need? How hard have you tried to push your product? It could be a lack of visibility that’s holding you back.
Planning to Move Forward
Once you’ve decided that it’s time to scrap your original idea, make sure you employ the following:
- Take note of any mistakes you made in the research process, and avoid them like the plague in your new venture.
- Take what you can from your old product. Even if it seems completely useless, there are likely elements of your build that you can reuse in your new venture.
- Evaluate your team. If you can take your team with you in the new venture, you’ll save a lot of time and effort. You already know what to expect from each other.
It isn’t an easy decision to make, but once you’ve made it, you’ll be clearing a path toward an even greater future. Use what you can, remember what you learned and stay positive.
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