Join 100,000 entrepreneurs who read us every month
Start a tech startup vs. a small business? The first ones may have it easier now as brick and mortar shops face highly tricky times. But why is that? Here, we’ll go over 5 pros of tech startups during critical times to maximize the view we have of our tech industry.
Trialing times are such because change is flowing every minute through every household. It’s not just one city or town that’s in high alert. We’re currently dealing with the entire globe, almost, in a state of emergency. And with this change, comes adaptability. For tech startups, the ability to adapt to increasing change and uncertainty is a top advantage. Hence why we chose it to open our 5 pros of tech startups during critical times.
For those in the tech industry, especially as small businesses or startups, we’re already familiar with the different feel to such companies when compared to large multinationals. Transcontinental companies seem like the big 16-wheeler on a continental highway when tech startups are mere cyclists out on a long-paved and often unpaved road in the middle of nowhere. The analogy is not to make us feel less about what we do.
On the contrary, the greatness that comes with this sportive nature is how we can turn around, circle as much as we need, and define our road as the business moves forward.
That inherent capacity to detour and follow a new route along the way is what gives one of 5 pros of tech startups during critical times. When everyone seems stuck on a fully congested LA type of highway, trying to make it through a toll booth, we as tech startups can change our whole game around if we like.
The business model can adapt, our service and business products can move to new sets of pricing, we can check which audiences we genuinely want to service next as alerts are issued, and our Marketing strategies can reform to suit new product variants or new tools altogether. This characteristic has got to be priceless!
How is anyone in the tech business supposed to feel bad about taking their equipment home and continuing to work? With software able to run as customary, that on which we focus in the tech world can often be moldable to a remote capability.
Of course, the above depends on how robust your foundations are, which is a factor all tech industry startups should take into account from the very beginning. That self-sufficiency is key to let us come up with the ability to go home overnight and still wake up to a myriad of options to keep working, away from our physical office space.
This notion doesn’t apply to a swimming pool business, a soccer team, a realtor, a gym, and so many other industries that are highly dependent on a given physical space to do business with their clients.
5 pros of tech startups during critical times include the ability to re-structure internally quite quickly to make sure our tech startup teams continue to function to maximum capacity. For that, re-distribute roles, if need be. Discuss tasks and make it clear who goes where for what while working from home to solve a dire state of emergency.
Establish new go-to-points, if need be. Ensure managers know how to best support their teams while work from home is the norm. We touched a bit on that when we first came out with startup CEO roles during COVID-19 times. The relevance of team morale is not to go by unaddressed. We mean that. It’s natural for many to feel lost and down as they must face confinement. Make it a highlight of your industry to be able to re-shape what needs molding to stay on top of the game. And give your collaborators the privilege of mental health and clarity in the process.
You probably use tools to get teams working all the time. From Slack to Zoom, there are tons of applications to help remote working teams through their workloads. From time management to full virtual offices, tech startups can make the best of a diverse range of working tools to enhance their team’s dynamics.
Care to integrate them all? Use Zapier, for instance, to bring together tons of other functionalities and, as this company says, automate your work. Are you worried about a healthy life-work balance for your collaborators as they’re stuck at home? Create a few more fun-driven communication channels. Toll what shows they like best and let them vent over the most nerve-wracking season over one of Slack’s channels. And make sure that one keeps as busy as your key conversation demands.
You can make of the virtual space a place as fun to be around as a physical space with a pinball machine and free drinks and food. Just give some thought to possible tools you could use. And keep an open dialogue with your teams to make the best tech has to offer!
We already headed towards this with our last point above. Communication is crucial. But don’t just talk for the sake of giving updates. On the contrary, clear misconceptions and uncertainty by being transparent. Let everyone know how our current market fluctuation is affecting your business. Show them how it’s thriving if you are. Or let them know where your business focus needs to lie to keep revenue on a smaller dent than possible.
Whatever you do, it’s in your hands to keep doubt out at a minimum of your team’s inherent uncertainty during times of crisis. What you gain from this is having everyone on board and lined up with reality. You get ideas and insight from this, whereby everyone is free to pitch in with innovation, such a critical instrument during times like this. It’s the most creative of companies the ones that are seeing a spike in their activity, rather than assuming the apparent downfall that must come with this lockdown. Bear that in mind.
Founders are human, and so are co-founders and all types of business partners. If you have a co-founding team, take advantage of that. Talk to each other, hear each other out. And make of your tech startup pros an area in which you thrive. Rely on each other to vent out fears, and make sure you all move from that into productive conversations. Stay positive amidst you. Make it a habit to share positive light for the market, to stay on top of the news, to dig for the most current developments. It’s in you to find that room of opportunity and drive your company to that winning edge.
Also, just in case you haven’t ever considered adding diversity to your team, think of gender equality and how a mix of backgrounds and experiences, especially at diverse global locations, can be a plus to your startup. Don’t stay in the median of most work environments. On the contrary, let diversity be the driving force for an innovative approach to your business decisions.
We wish you all the best here. And remember, tech startups have 5 definite pros during these times. And those are just the first handful of positivity we can share with you by now.