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Dec 11

How to Start a Successful Hi-Tech Startup

It’s the old adage, keep it simple and focus on the basics. Below are the first 7 steps to begin a successful hi-tech startup:

1. Define the idea and don’t concern yourself with the vision or mission
2. Develop a one page business plan, i.e., create a business hypothesis
3. How big is the problem? What’s the size of the market?
4. Build a vision / idea team or advisory board
5. Clearly define the target customer or customers
6. Define and validate your solution, i.e., the product
7. Revenue stream – how will the business make money

These are the fundamentals we make sure our clients have or will address as their first entrepreneurial activities.

If you’re not sure how to execute / implement these requirements, we’ve released a free white paper in the KENOVA Knowledge Center called The 7 Steps To Begin Your Technology Startup.
 

"This article may not be reproduced in whole or part without including the name of the author (James Naylor) and an acknowledgement of the fact the article was originally published in Shoestring Advice for Technology Startups (http://www.KENOVATech.com/blog). Any other use of this material is unauthorized and is a violation of law."

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