The recent truth about tech companies is that many of them are funded by VCs nowadays; especially those that focus on software. So, if you’re considering building up a new tech company, here are 9 tips on what to know before starting a business.

Tip #1: Get started on your tech product

The greatest advantage of building a tech startup is that, as long as you’re working with people who can code or who know way more than their basics in tech, you can most often build your product with your own equipment.

If this applies to you, then get started with your product - yes, maybe even before you legally constitute your company. Do it by yourself or through an expert founding partner who knows perfectly well what they’re doing.

With this leeway, you can already start calculating what your Minimum Viable Product (MVP) is. For this, however, look for the closest thing to absolute certainty about the issues your business will be solving and how it’s going to improve your future consumer lives. Also, make sure you are clear about the difference between a small business and a startup.

Tip #2: Don’t disregard business needs

While basing your new company on software might make product handling much easier, still work hard at being able to fulfill regular business needs. Just as heads-up, you’ll need to work the same as any other founding startup when it comes to learning how to best manage a business.

Whether you’re in tech or any other industry; knowing your startup fundamentals is a definite must, so here are just some of the considerations on what to know before starting a tech startup:

  • Study what workflows are and how they operate. Define which ones would work better for your tech startup and your team.

  • Identify your company’s scope and its limitations.

  • Try out a variety of project management tools to find the ones that suit your needs.

  • Come up with a good business and financial plan for your company.

  • Create your business plan as a first thorough description of your company where you state what you wish to do and how you plan on making that happen.

  • Conceive your business’s first 3-5 years while using milestones for set periods and define a way to achieve those goals.

  • Also, consider your competition slide.

Tip #3: Create memorable branding

Choose a name that’s easy to remember and spell as your company’s new branding. The same goes for your logo. This part of your brand should be simple and memorable.

Another area of your business that you can prepare before you even have a full product is your website’s landing page. Don’t be too fuzzy nor over-promising about the status of your tech company and its product while it’s in the works.

On the contrary, be blunt and direct about it and make sure you add contact information for potential clients to be able to reach you. In fact, keep visitors updated about your startup through this same landing page. Just create high fidelity wireframes and mockups of it for better reference.

Tip #4: Stretch out as much as possible

You should start thinking about how you’ll market your company and your product, what your strategies will be for th