With entrepreneur-led tech companies on the rise, it can be difficult to stand out to potential customers. If you are in the beginning stages of launching your own tech company, it is important that you do it right in order to generate sales and grow your business. Read on for three tips that new entrepreneurs should know as they develop and grow in the tech industry.
1. Ensure Quality Product Development
Quality product development begins as soon as you get that million dollar idea. Once you have spent some time developing your idea, try pitching it to a few trusted friends or colleagues to get feedback. Treat each practice pitch as a focus group, taking in comments and using them to begin developing your product. Once you have developed your product, it is vital that you test it over and over again to ensure that it meets the needs of potential customers. Take each criticism as a learning experience and use it to optimize your product. Most importantly, product development is an ongoing process. Even after you have built a strong customer base, there will always be a need for continued development and improvements. Start strong incorporating quality development into your business plan and you will be well-prepared to continue this process after the product has launched.
2. Perfect your Pitch
Once you have created your product and garnered some investors, it is time to begin building a strong client base. Pitching your product will becoming easier over time, though there are a few things that you should always keep in mind. First, keep your team to the bare minimum. Having too many people in the room might overwhelm the company to whom you are making the pitch. Make sure that you have a strong, 30-second lead-in, which describes your product in layman’s terms. Those first 30 seconds are the most critical for catching your audience’s attention and reeling them in. After that, you can go into specifics of your product and explain where it fits into the landscape of similar products. If you have competitors, explain why your service is better or more cost-effective. Finally, be sure to relate your product to the specific needs of the company with whom you are meeting. Explain how your product can help them with these needs.
3. Hire a Specialist
Once you have few clients under your belt, it may be time to begin looking for bigger clients. When you get to this stage, it is often helpful to hire a person or firm experienced in helping tech companies land strategic accounts through pre-existing relationship building. Many companies have specialties in various industries. One such company is sales intelligence experts LeadBridge Partners. By working with a company like LeadBridge Partners, your company can get its foot in the door quicker, which shortens sales cycles and increases revenues with larger clients. This gives your company time to focus more on ongoing quality product management and high levels of customer service.
