Think of it like playtime for a business incubator. Instead of playing with make-believe toys, kids spend their time working on real business ideas in a safe and nurturing environment. Kids come home from playtime with their own individual business incubators that they can run their real businesses out of.
You can learn how to launch your own tech company like FS Tech with limited resources, too. It’s not as scary as it sounds. You just have to find the right model that makes sense for you and your company.
What is limited resource development?
Limited resource development is the process of creating a business that makes the most out of a limited amount of resources.
In this case, the limited resources are time and financial resources. When figuring out how to launch your own tech company with limited resources, you will have to ensure that your time is spent on the most important things possible: finding a market that is underserved and ripe for the picking, and finding a business model that is scalable and sustainable.
Why waste time on the not-so-important when you could be spending your time on the important things?
While it’s always good to have a business plan and appreciate the investment that a startup requires, you must also look at the long-term. You can’t just launch your business and hope for the best. You have to plan for the Long-Term.
Your business model has to be able to grow with your company. It can’t be the one-off deal that you try out at first, but a long-term operating model.
Build a team of warm bodies and don’t be afraid to ask friends for help.
As a tech company founder, you will need to find employees. You don’t have to scour LinkedIn for the best engineers, you just need to find the people who are the right fit for your company.
With limited resources, you can’t bring on too many employees at first. You just want to find people who can help you meet your short-term goals. Once your company gets going, you can always hire more employees if demand ever becomes too great.
Choose an area of tech that has room for growth. It can be anything from HTML/CSS, to smartphones and tablets, to wearables, or drones.
If you are planning on building a consumer product, HTML/CSS is a good place to start. As your company grows, you will want to add additional functionality.
This can be anything from a new app, to a new website, to a new printing press for your t-shirt line.
Find a market that is underserved and ripe for the picking.
As a tech company founder, you will also need to find a market that is underserved, and ripe for the picking.
This could be because your industry is saturated with competitors, or you could just be in the right place at the right time.
Final word
A great way to launch your tech company with limited resources is to get an expert to help you out. You can hire a marketing consultant to help you find a market or a developer to help you build a product.
You can also get help with your business plan and investment strategy from a professional. Launching a tech company is a lot like playing with toys.
You can play with the toys for hours, but eventually, you’ll want to get down to business and make your toys work for you.
That’s what being a tech founder is all about — working with limited resources, learning the valuable lessons of experience, and building a team of warm bodies don’t be afraid to ask friends for help.
