Startup Success Tip–It is not about the technology.

January 9, 2012 by
Filed under: Business, Startup 

Building a business is not straightforward or easy, things that seem like common sense surprisingly are not the right choices for success.  Knowing that the goal of a startup is ultimately to make money, with this in mind it is a good thing to remind yourself about as you progress in making a startup successful. 

With many startups based on technology and solutions it is a big trap that you can fall into easily, thinking it is about the technology.  What really makes it work and successful is the core issue of solving a problem, making the pain go away, and possibly giving pleasure or all three.  I call these the three P’s

1- Problem : This is ultimately what you are solving the niche where you fit in.

2- Pain: This is the pain you are making less, or removing, where people most likely are willing to pay you money to make it go away.

3- Pleasure: The converse is that pleasure, bringing pleasure and taking away pain are almost the same, you can think of games or other interactions matching in this category.

 

VENN

 

Technology is important, it is the means to an ends, however there are so many technological solutions, that they are interchangeable in many ways, there is no one secret sauce people are solving problems and if for some reason you technology works, that is great but don’t think that is what it is about.

I think the key ingredient to a successful startup is knowing the technology is not key, but the people are!  People are what make technology work, and people are what it is all about, that and of course a solution and plan for making money!  Many large companies buy out startups not just for the company as a technological asset, but for the data, business establishment, and most importantly the people who executed correctly.

How do we find the right people for hiring, this will be coming up!

Stay Tuned.

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