Lessons Learned: What You Should Know Before Starting a Technology Company

Reflecting on my journey, there is one piece of advice that now sticks out to me: working at a major technology company before starting a software startup would have been incredibly beneficial. This may not be a widely accepted viewpoint, but for young founders like myself, it opens up numerous doors that might otherwise remain closed. In the early days, obtaining validation from investors was a significant challenge. Our team had valuable experience from smaller startups, but the lack of connections with big tech giants like Microsoft, Amazon, or Google seemed to be a hindrance. Despite a well-built product, paying customers, and traction, we felt we were always one step behind.

Insufficient Experience

Investors, in particular, were hesitant to bet on our venture. They wanted to see a solid track record of working at renowned tech companies. The pressure to have this experience was overwhelming, and it led to a lot of self-doubt and second-guessing. Looking back, I believe that if we had a few years of experience in a big tech company under our belts, our pitch would have been much more convincing.

Three Critical Points for Success

While waiting for the perfect time is not always the best approach, there are three clear takeaways that every aspiring tech entrepreneur should consider:

1. Right Mindset

The first step in building a successful startup is developing the right mindset. You need to be dedicated, innovative, and resilient. The failure of a few initial ideas is a natural part of the process. As Theodore Roosevelt so wisely put it, 'Do what you can, with what you have, where you are.'

2. Industry Experts

Secondly, having expert knowledge in the sphere you are starting in is crucial. Whether you start with a passion project or a well-researched business idea, having a deep understanding of your market is invaluable. It can help you spot opportunities and avoid common pitfalls. However, if you lack this knowledge, acquiring it through education, hands-on experience, or expert networking is essential.

3. Strong Connections

The third and often overlooked aspect is having strong connections within the sphere your business will grow. These connections can provide you with valuable insights, introductions, and support. They can also help you navigate the complex landscape of the tech industry. Building these relationships takes time and effort, but they pay dividends in the long run.

The Irrelevance of Timing

Some might argue that timing is everything, and that starting a tech company too early can be a mistake. However, in my opinion, there is no such thing as starting too early. In fact, the earlier you start, the better. According to a study by Business Insider, entrepreneurs who start their companies at a younger age tend to be more successful.

Moreover, it's not about the age you start but the knowledge and skills you bring to the table. If you have the right mindset, the necessary expertise, and a solid network, you can overcome early setbacks and grow your business. The key is to learn and adapt as you go along. Experienced entrepreneurs often advise that the most valuable lessons are learned through trial and error, and starting sooner means you have more time to learn and improve.

Conclusion

In conclusion, while having experience at a major technology company before starting a tech company is beneficial, it is not a requirement. What truly matters is the mindset, expertise, and connections you have when you begin your journey. Aspiring tech entrepreneurs should focus on these critical factors and remember that the earlier you start, the more time you have to learn and grow. With the right foundation, your tech startup can thrive and succeed in the competitive landscape of today's digital world.

Join the conversation and share your thoughts on what you would do differently if you could start a tech company today. Let's learn from each other's experiences!