By Alicia Baker
Did you know that Facebook is now worth more than $250 billion? Even the new kids on the block, Snapchat, are worth $20 billion. These are phenomenal figures, and a representation of how powerful the tech industry is.
There’s one thing that all of these companies have in common. Most of them started out in someone’s bedroom. Mark Zuckerberg built Facebook in his dorm room. Larry Page and Sergey Brin founded Google in their garage. Never before has it been possible to create something on your laptop, and get a billion dollar valuation.
So, is it possible for you? Theoretically, yes. Here’s what you need.
A world-changing idea
Entrepreneurship all comes down to one unique vision. It’s about a solving a problem, or exploiting a niche. Find out what’s missing from people’s lives, and fill it. That’s the first step to becoming a tech startup. What fantastic idea can you create that people need? Use your passions here. Are you into sports? Think of an idea that will appeal to sports fans. The best tech companies grew their user base by providing something that everyone needed. Or wanted. That’s no easy skill, and it will take some time to come up with the perfect idea.
A genius coder
You’ll also need a genius coder on your team. If that’s already you, great news! Tech companies are all about innovation in coding and software. Building something brand new, from the ground up, is the heart of this industry. If you aren’t a seasoned coder, you’ll need to find at least one person that is. Your idea will take hours of creative coding to get right. Although Facebook started as a small project in a dorm room, it now has more code than the International Space Station. You better get going!
A savvy business person
A tech business cannot thrive with a coder alone. There are two sides to every great tech startup; the coder and the businessman. While the coding genius is busy building the functionality, the businessman needs to go out and build interest. They need to manage the money, and use Your Company Formations to register the business. You’ll notice this partnership pattern in all of the top tech firms at the moment. So, your first job is finding a partner who balances out your skills and qualities.
How to pitch to investors
Again, this is where the smart business brain comes in. No matter how great your idea and product, you need to learn how to sell it. If you can’t convince investors and other contacts, you’ll get nowhere. Every tech startup needs an injection of cash at some point. So get used to the idea of pitching investors, and selling yourself.
Move to San Francisco
Well, this one isn’t essential, but it sure will help! San Francisco is home to the infamous Silicon Valley. It’s where all the biggest tech companies live. It’s also where all the richest investors hang out. By moving here, you’ll immerse yourself among some of the sharpest minds. There’s inspiration at every term, and investment money flowing freely. It’s the best place to find your big break.
There’s no easy route to tech startup success, but these tips will put you on the right track!