6 Realistic Tips To Build A Successful Tech Startup

Radix
Radix
Aug 23 · 2 min read

Conquering the tech startup world can seem daunting and although the tech industry is booming, it is a fiercely competitive space. This makes building a successful tech startup a challenging activity.

With the technology industry bustling with innovation, new products that are boasting of emerging technologies like IoT and AI, especially ones that solve real market needs, are the ones that are taking over the market.

The market too is ripe with opportunities galore.

While established tech organizations are struggling to keep up with the fast pace of innovation, there are magnanimous opportunities for tech startups and tech-savvy entrepreneurs to execute some truly brilliant ideas.

The global startup ecosystem is also supportive of enabling new tech startups to find success.

Seasoned businesses and serial investors are directly pumping money into lucrative tech ventures.

However, despite the highly supportive nature of the tech industry, the cut-throat competition and the inability of entrepreneurs often hamper the possibility of creating a successful tech startup.

In fact, studies have shown that almost 75% of venture-backed startups fail and the failure rate of most U.S. companies after 5 years was 50% and over 70% after 10 years.

While you do need that certain “X factor” to thrive, there are steps that entrepreneurs can take to increase their chances of building a successful tech startup.

We’ve listed down 6 realistic tips that tech entrepreneurs can follow in order to build a successful tech startup.

Read more here.


Originally published at https://get.tech on August 23, 2019.

Radix

Written by

Radix

The Registry behind new domains such as .online, .store, .fun, .website, .tech, .host, site, .space & .press

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