Tech is experiencing a boom. Tech is no longer experiencing a boom. Tech is definitely experiencing a boom again.
Which of these three statements is true? The answer to this question is totally situational. The fact of the matter is, the tech market is not at all homogenous.
A wise person once said that the employment rate for you personally is either 0% if you’re working or 100% if you’re not. The same analogy could be made for a startup. It may not quite be as binary, but your idea could be in line with general expectations for the market, or it could be way ahead or way behind of them.
The million dollar question is exactly that; you want to know (understandably) where your own idea and your own nascent business is going to stand in this environment. It can be hard to nail down exactly how much money you are going to need, and what time frames should be used, etc. There are really so many factors going on.
This is where entities like Launch Program come in. You can leverage their extensive, deep and wide aggregate analysis of the whole tech sector and obtain realistic and informative answers to these all too important questions with them.
Two incredibly useful tools this type of program provides you are cost planning (this is mainly identifying and bringing to light all those hidden costs so they can be anticipated), and Idea Validation techniques. Idea Validation techniques simply means techniques to objectively analyse your business idea and its viability given the current business environment and other relevant conditions.
In the meantime, here are some quick ideas that can also be used to analyze your business ideas. There is a very key element here: A good idea in order to be really successful has to resonate at the ground level. In other words, industry experience is totally key here. This is the first hard question you have to ask yourself: Do my startup team and I have among us the necessary street-level industry experience to make this idea work?
That is not to say a team of industry outsiders can’t be successful, or even that a team of people could conceivably make a totally new industry; this has obviously been done tons of times before, and is likely to be even more common in the future. But it’s important to be aware of what’s already out there and exactly where you want to go, and if you are wading through uncharted territory, it’s extremely important to be flexible and adapt to the circumstances as they arise.
These super-important qualities along with the proper professional help will go a long way towards securing the successful future of almost any worthy tech endeavor.
