Getting a startup technology company going, can be a daunting task, but if you’re committed to learning, and willing to put the hard work in, while your friends are all out partying, you can definitely make a nice run of it and make some serious money. For me, I didn’t get started until a little bit later in life, but by far, it’s been the absolute most fulfilling thing I’ve ever done. I highly recommend you give it a try.
To help you out, I’ve shared some of the more prevalent mindset influences that helped make the transition to a getting a startup technology company going, in the hopes that you’ll grab hold and relate to some of them as well. I’d definitely recommend you put together a list like this, because when the going gets rough, it’s a great reminder of why it was important that you took the initial first steps in building your startup technology company to begin with.
1. No perishable items.
When I was working at my mom’s smoothie shops, I was always against the clock with food going bad. The bananas, the strawberries, the tuna, the muffins, and every other food item we sold. It was a constant battle to make sure everything was ordered or picked up fresh on a daily, or weekly basis. There was literally no time to walk away from the business, because if I did, without a doubt, a customer was going to walk up to order something to eat and drink, and we were going to be out of it, and that’s not the type of customer service that I wanted to provide to them.
With my startup technology company, I never have to worry about perishable items. The only thing perishable that I have is monthly or annual licensing, and that’s as simple as pressing a button on a computer, to extend the support. It doesn’t get any simpler than this in terms of renewing contracts.
2. No warehouse needed.
Investing in a couple hundred thousand feet of warehouse space, is not cheap. Even more daunting, is investing in the products to keep the warehouse full. This takes a big bankroll, and maxes out your credit line, so if you’re not selling, you get into trouble very quickly.
With my startup technology company, I never have to worry about warehouse space or keeping products on the shelf, and subsequently, I can be nimble and quick and make needed technology updates on the fly, without having to break any expensive long-term leases.
3. No travel needed.
Travel kills productivity time. Jumping in cabs, riding on trains, and flying all over the place, makes it tough to get settled in so that you can hyperfocus on any particular task. Working and traveling is like juggling balls, you’re in constant motion and never have a chance to settle down on what’s really important.
With my startup technology company, I travel when I want to, and wherever I want to, based upon my needs, not because someone is telling me that I need to do so. I travel to meet customers, to make memories, and to make money, not to just sit in useless meetings where I have no say in what goes on anyway.
4. No unnecessary overhead.
If there’s one thing that will keep you up at night, it’s overhead. Useless business subscriptions and high investments in technology that sounded really good when they were being sold to you, but cost thousands of dollars to actually implement and get working the way you need them to within your environment, is a total waste of money.
With my technology startup company, I only invest in the absolute bare minimum products and services, so that I can provide a best in class customer service experience. Yes, there are better, more productive ways to achieve some of the tasks that I’m doing manually, but until the return on investment is there, I’m just not going to add unnecessary overhead.
5. No office space needed.
Signing a lease for a bunch of space so that you can say you have the entire floor of a building, is totally ridiculous, but yes, when an ego gets in the way, it’s easy for bad leasing space decisions to be made.
With my startup technology company, I’m a firm believer in letting people work, whenever, and wherever they’re going to be the most productive. Why in the world am I going to make someone drive an hour to come into an office, pay a fortune to park, overpay when they go out to grab a quick bite to eat, and then sit in the car for another hour on their way home. This is bad productivity, and this wears down employees very quickly. I always look to hire people that are self-motivated, that have a passion for what they’re doing, and that want the freedom to work on their own personal business projects as well.
6. No payroll needed.
In the marketplace today, everything is specialized, so hiring one person to be the jack of all trades, is most likely not going to happen. When you hire a bunch of different people, with limited skill sets, you end up with a high payroll, with limited productivity, which ultimately spells disaster.
With my startup company, I higher people for the specialized tasks that they perform. I don’t want a coder doing the job of a salesperson, or the salesperson doing the job of an accounting person. That’s not fun for anyone involved. I always have the proper people, doing the proper jobs, maximizing every dollar spent.
7. No limit on earnings.
I’m of the mindset that great sales representatives, need to be able to make as much as they possibly can, as fast as they can, under the compensation plan that a company provides. No great sales representative is going to hang around and be put into earning buckets, so that they don’t make too much, or too less, than their peers. This is what a lot of large enterprise companies do, and it’s demeaning to the overperforming sales representative, and ultimately drives them to go to another business operation where they can have unlimited earnings potential.
With my startup technology company, there’s no cap on what I can earn. Yes, I have my margins that I need to keep so that I can keep my lights turned on, while delivery an excellent customer service experience, but anything I sell above the margin, is mine to keep. It works the same ways for employees as well. It’s a model that works excellently, and incentivizes sales representatives not to sandbag and play the monthly or quarterly numbers game.
8. No extensive training.
Most technology fields, especially in coding, scripting, and APIs, can be self-taught. You literally are going to get back, the time and effort you put into achieving and creating what you set out to do. Technology, to a certain degree, is a self-taught program. Yes, you can go to school and learn what to do, and how to do it, but without practicing and challenging yourself, no real growth is going to occur.
With my startup technology company, I focus on learning new ways to do things on a daily basis. I’m not pigeonholed into a corner and stuck doing a certain task all day that’s only benefiting the company I’m working for, that’s just not fair. I’m committed to continuing to keep an open mind, and adapting as needed, as much as needed.
9. No massive investment.
The one thing that holds back more people and companies from actually launching, or expanding, is the monetary investment that’s needed. If you don’t know how to do something yourself, or you don’t know some inexpensive resources that you can utilize, it is going to be expensive.
With my startup technology company, I did have a massive investment, but it was an investment of my own time, passion, and effort, and putting together the exact service I wanted to deliver to my specific market segment. I only invested time in the most important business building tasks where I was going to be able to deliver superior customer experiences, at a competitive price, with a strong return on investment.
As you can most likely see by my tone and demeanor of this article, I’m a no-nonsense entrepreneur that focuses on freedom, passion, enthusiasm, profitability, and productivity. My startup technology company is one of the most important things in my life, and I always look to keep an open mind, to listen, and to value every business growth opportunity that presents itself in my life. Now, it’s your turn to create your own startup technology company story, so go out and take the first steps needed. If I did it, you can definitely do it as well without a doubt.