Startups are not always dedicated to the newest tech, even if they utilize it. Technological novelties are both fun and useful, but if they act more as peripheral benefits to a company than necessities, they aren’t going to be initial investments. Today’s startups should see technology as a useful tool, one that can help build upon strategies alongside the skills and efforts of real people. This blog explores how startups can utilize big tech to promote their products and services.
While established companies would need to adapt to the newest technologies, startups have the luxury of incorporating them from the get-go. In the beginning, startups can have primary goals, but they should be able to answer some critical questions about what they want to achieve in the long-term. The answers to these questions determine what technology is utilized, and how it is used:
- Who are our consumers?
- What problems are we trying to solve?
- What value does our product/service offer?
- What is the purpose of our product/service?
No business should remain static for long periods. Retrospective meetings should analyze the past months and identify the ideal path for growth. The focus is, again, not on the latest and greatest technology, but on purpose. In this regard, technology can kickstart growth, but not every situation relies on investment in technology to drive growth. Identifying when and how to utilize technology is vital in successful, smooth scaling.
Startups don’t need to be self-sufficient if they lack the power, funding, and energy to do so. Resources such as strategy expertise, methodology optimization, and product management can come from outside sources and create a culture of shared knowledge for a startup. This holistic consulting approach is ideal for products, services, and a startup’s overall success.
Using a CTO
A CTO, or chief technology officer, is an integral part of any new business. While startups often lack the budget for hiring an experienced CTO, restructuring the budget to make this investment will benefit startups in the long-run. The CTO develops the company’s technological prowess by growing teams and building strategy. CTOs also build tech public relations, define team management processes, support contacts with investors, and share responsibilities. In new startups, a CTO provides security and solutions, serving as an invaluable asset.