Startup school: Raising capital, rapid expansion, and how to navigate business challenges
There is no doubt that the tech industry has become an increasingly competitive space. Now more than ever, securing funding for a startup company takes more than just a tech-savvy entrepreneur with a good idea. You need to attract investor attention with a loyal customer base, a strong business model and a realistic plan for growth.
With that in mind, this five-part series — published each Wednesday for the next five weeks — aims to explain the life cycle of a tech business from forming a startup idea to creating its exit strategy in the current market.
This first article provides some helpful advice on what to consider when starting a tech business.
Tech business startups
Today, the tech industry is a booming space full of innovation and investor potential. According to a Gartner forecast, global spending on information technology (IT) is expected to reach $4.4 trillion by the end of the year. With so many lucrative opportunities, countless entrepreneurs want to bring their tech business ideas to a potential customer base. But how do they get started?