It is no secret that the tech world is exciting. From the innovations being created every day to the huge financial rewards for successful companies, the space is as amazing as it is complex.
But despite the glitz and glam, it is not always smooth sailing, especially for tech entrepreneurs.
From raising funding in a competitive market to managing employees to simply keeping afloat in an ever-changing community, the average tech entrepreneur has their work cut out for them. But the fact that surviving tech is difficult doesn’t mean that it is impossible.
Case in point, these entrepreneurs have both survived and thrived in tech and are leaving their impact on their industry. But how does an entrepreneur, especially a new one, find their footing in tech and succeed?
Jan Strandberg, CEO and Founder of Acquire.Fi:
“One principal piece of advice we give to new tech entrepreneurs is to find a mentor. Having someone who’s been through the startup trenches before can be invaluable. Mentors can calmly provide guidance, wisdom and advice when you need it most. There are plenty of programs available that can help connect you with mentors (such as 500 Startups). With a little bit of research, you should be able to find a mentor that is a good fit for you.”
Victoria Vaughan, Co-founder of Incryptoland, Marketing & PR Agency for Web3
“Starting a technology firm does not need a computer nerd. Product planning, company growth, and marketing are essential for the success of a startup. Hence, founders should focus on their skills and seek co-founders with complementary skills to make up a perfect company. In addition, founders need to comprehend the company’s foundations, which may be technical, but typically logic and common sense suffice. It ultimately boils down to assembling the best team. That is, to effectively control and expand the company’s network by attending events, to know where to go to hire a co-founder or a new talent.”
Ilman Shazhaev, Founder and CEO of Farcana:
“If you want to succeed in tech, one of your most important assets is expertise. Make sure you take time to study the niche you are entering. Second, keep in stride with the times. Modern tech develops at a crazy pace, so you should be aware of all innovations to stay ahead of the competition. And third, give proper attention to the tech side of your project. It doesn’t matter how big your project is: fame and hype fade, but with a robust, sustainable infrastructure you can stand strong in the most adverse conditions. At Farcana, we challenged the ponzinomics common to the GameFi, and shaped our product for long-term and sustainable development.”
Guy Yanpolskiy, Founder and CEO of GuyWay Group:
“It is hard for a newcomer to find their footing in tech. However, he developed a few tips while walking this road himself:
- Do your research. Technology is a very broad field with various areas. To discover the right role for yourself, do some quality research first.
- Think about skills you already have. Certainly, you have some useful skills already so try to incorporate them into your tech career path.
And finally, the most helpful for me was diving fearlessly into the new and using every opportunity to network and find helpful connections.”
Kayvon Kay, Founder and CEO of The Sales Connection:
“As a new entrepreneur, your path to success lies in specialization. Too many new entrepreneurs try to be all things to all people, focusing on as many areas in their field as possible. The truth is counterintuitive. You want to hyper-focus on one skill and become an expert in that niche. As you experience new opportunities, you can become an authority within that field. This results in both professional and personal satisfaction as you enjoy greater opportunities and higher levels of success. By offering a highly specialized skill, you encounter less competition in a niche with higher demand. A skilled, specialized entrepreneur can trust that their journey will be prosperous.”
Sergei Sergienko, Founder of LaborX, CGU and Chronotech:
“Anyone going into tech should know that it’s all about speed to market and niche. In other words, you can be better than Facebook, quicker, have better design, etc., but if you are starting it now, you are too late. Hypotheses need to be tested quick and evaluated at mega speeds. MVPs should be created on the fly”
Jonathan Maxim, Managing Director at K&J Growth Hackers:
“Some think that because anyone can “make an app”, that tech is an easy place to enter, however, the truth is it’s the most competitive space in the world. So, the best way to get a rolling start and minimize losses early on is to find the most elite person in the space you can, ideally a tech founder with at least 1 exit, and pay them for their time. Ask if you can shadow, get coaching and pick up nuance in their day to day. Courses often have fluff, so it’s best if you can get that info direct from the source, unfiltered and contextualized.”