Our Guide to Setting up a Home Based Tech Firm

Our Guide to Setting up a Home Based Tech Firm

The idea of a tech business is as glamourous as ever. Companies like Google, Microsoft, Apple and Facebook all got their starts with a couple of people working together on an idea ad are now some of the biggest companies in the world. So, if they are doing it, what’s stopping you from doing the same? Here are a few tips to help you start up your own business startup.

What’s the product?

Before doing anything, you need to make sure that your company has something to sell. There’s a lot of ways to go about this. You can formulate your business around consulting, meaning that you are seeking your certain knowledge or expertise around a subject. This can be a good option to go with since it requires less initial investment, but it does require reliable clients and it requires you to have extensive professional knowledge about the technological element of consulting that you are building the company around. If you aren’t some of the bests in the field, then why would the big companies pay you to help? The second and most common option for you to go for is basing your company around a product. Whilst this could require more initial investment since you need to create the thing you want to sell, the profit later down the line is also likely to be much bigger if things go well. This move also requires much less highly professional knowledge. Sure, it will help but if you have an idea and can convince investors that its good, you can hire other professionals later down the line.

Has it been done before?

You also need to make sure that you have a unique selling point, also known as USP. Its very easy for the market to become oversaturated these days so its important to do extensive research into the product you want to sell in order to make sure it hasn’t been done before. It can be quite demoralizing to find an idea that you thought was original already out on the market but stick with it. With a bit of tweaking, you might have a whole new idea to take from that old one.

How do I set up at home?

Working from home can be quite a seductive idea for a lot of people, but if not done right things can fall apart really easily, especially with something like a tech startup. Having a group of people, all with computers plugged into the walls, all on the Wi-Fi at the same time and all opening up space for stuff like memory drives and servers can be really intensive on the electrical systems. It’s important to look at electrical companies in Perth to make sure that your home set up is up to standard and can take the stress that it is likely going to be put under.

Can too many cooks spoil the broth?

Building a business is tough. Not impossible but it’s not easy. That’s why its so important to network with others. Weather it be friends, colleagues or other businesses it is important to have help along the way but it’s more important to get the balance right. Getting too many other people involved in the core vision for your company can be detrimental in the long term. Too many people throwing ideas in the pot can cause the end product to become completely different to the initial intentions you set out with. So yes absolutely ask for help, you can’t do it by yourself, but try not to lose your vision along the way.

Learn all about mechanics and how to practically apply it.

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