With the evolution of technology, app development companies along with other organisations are looking for ways to advance their businesses.
However, the riddle is:
Is it easy to grow a tech business?
Apart from constant hard work and sheer dedication, it needs in-depth research and careful planning. A lot of things are needed to be kept in mind. One wrong step and your entire business will crumble like a sand castle.
You probably wouldn’t want that.
That’s why you need to follow a proper strategy, see what mistakes other startups committed, and avoid them as much as you can.
You can also learn from some app development companies in the UK who faced the same issues while expanding their business. After facing a hard time, making mistakes and learning from them – they were finally able to excel through the phase.
Their journey is so inspirational that we’re sharing their experience in this post. You can learn from their experience, avoid the mistakes they had committed, and scale your business to great heights.
So, let’s get started:
What Will You Need?
1. Fresh Ideas
Unless your product is something of daily use ( a printer, a mouse, or a photocopier) – nobody will care if it’s old and out of trend.
Your tech business can’t grow without fresh ideas. It’s the fuel that will run your startup on longer run.
So, get some fresh ideas first.
Even the greatest ideas are of no use if you’re not willing to implement them. So, first of all, you really need to ask yourself this question:
Do I really want to expand my business?
If the answer is Yes, proceed further.
Otherwise, you need to think again because you lack an important ingredient, i.e. commitment.
Knowledge is must if you want to expand your business. You must have an idea about who your buyers are and what type of products they need. Only then, you can launch a product that suits the needs of your audience and grow your market.
Expanding your business also means that you need to hire more people.
For increasing your workforce and promoting your product in the market, you’ll need some funds. Also, make sure to have some backup if the plan doesn’t pay off.
6. Business plan
No matter how solid your business idea is – it’s no use if you don’t have a business plan. The business plan will decide your position in the market, in the upcoming years. So, make sure you’ve one.
What do you need to know first?
1. Expanding Your Business is Risky
Let’s be honest! Growing your tech business online is a game of Russian roulette. Highly risky.
Either you’ll end up becoming a huge success or you’ll end up losing everything.
Also, there is huge competition. For example, many app development companies in London and worldwide create millions of apps every year. Some are even in the game for decades. How will you surpass all of them?
So, plan everything carefully. Thoroughly analyse your market and know your consumers well before launching the product.
Don’t take any decision in a hurry that you’ll regret later.
2. Be Prepared for the Worst
Once a wise man said, “Keep your eyes at the sky but also keep your feet firmly at the ground so that you don’t fall.”
The meaning is quite simple.
If you’re planning to expand your business – hope that it will do well and bring great profit. Although, also be prepared for the worst and have a backup plan in case this one fails.
3. Don’t Ignore Anything
The main problem with the most of us is that we’re not interested in learning things which are not related to our field.
So, we plainly ignore them and this is completely wrong.
Here’s what the leaders of the popular startup Dijiwan wrote after it went down:
“A good product idea and a strong technical team are not a guarantee of a sustainable business. One should not ignore the business process and issues of a company because it is not their job. It can eventually deprive them of any future in that company”
Learn a lesson from them and avoid committing the same mistake.
Best Tips to Grow Your Tech Business Online
1. Come Up with a Unique Product Idea
Do you really want to see your tech business growing online? Bring a unique product idea.
There are already many products in the market. How can you expect people to buy something that’s offering similar features?
Clearly, you’ve to offer something which is not available in other products. Only then, they will purchase your product and your business will grow.
2. Launch Your Products in new markets
Expecting that your business will continue expanding in only one market is also not right.
Want to see your business growing? Introduce your products in new markets. This will help you in two ways. First, you’ll score more users. Second, you’ll have a chance to make your products more diversified.
Ever wondered why leading US and UK companies are launching their products in countries like India and China? It’s because they know this fact very well.
3. Know the needs of Your Customers
Before inaugurating your product in the market – it’s very important to know the needs of your customers. There is no use of launching a product that doesn’t satisfy the needs of your targeted audience. What’s the point of launching your mobile app for older people who have little or no interest in technology? So, first know what your audience wants and then instigate your product.
Let us understand this with the help of an example. You are an app development agency who develops apps for businesses. Now, the most basic thing you need to understand is that why businesses need an app? And What kind of Apps the businesses prefer? You must have an idea about their requirements and working procedure. Only then you can work on the development process.
4. Stay updated with new Trends
I.T is a dynamic industry. It keeps advancing every day. The companies keep developing new apps and launching new products. The platform on which you’re working today may get replaced by something more advanced in the upcoming months. So, if you want to grow your tech business, stay up to date with new trends. Otherwise, you’ll be left behind in the race.
5. Use Social Media as a platform to Promote Your Products
Social media networks like Facebook, Twitter, and Instagram has made it a lot easier to advertise your products online. Here, you can promote your products for free or by paying a little fee. This can save a lot of marketing and advertising costs.
So, avail the facility and use social media to promote your products for free.
6. Let Your Customers Bring More Customers for You
If you’re wondering: how’s that possible?
Your present customers can bring more customers for you. Have you ever heard of the term word of mouth?
It’s just like you did online shopping using the Amazon app and received 50% cashback.
What will you do?
Jump in excitement, call your friends and ask them to install the app, praise the service on the social media, and even give them a 5-star review.
They just offered you some discount but what they got in return is remarkable.
What I am trying to say is very simple. Treat your customers like a precious treasure, offer them best-in-class services, and provide them special benefits and offers – this will go to any extent to praise you and bring new customers.
Last but not the least: Don’t ignore Business Credibility
The previous point leads us to share an important term with you, business credibility. Don’t know what business credibility is? Let us explain. Business credibility is the amount of trustworthiness or expertise the company has established in the eyes of clients, customers, and business partners.
Here’s how you can establish the credibility of your business:
- Know your customers
- Offer them best-in-class services
- Be honest about the services you offer
- Promote your achievements
- Keep your customers happy with rewards and special bonuses
- Frequently keep asking for customer feedbacks and work on their suggestion
- Always be available to resolve their queries
What Should You Learn from This Post?
There is a very simple lesson that you must learn from this article. No doubt, it’s not that easy to expand your tech business online but with careful research and proper planning – you can easily sail through the process and get fruitful results. You just need to have a proper strategy, implement some simple tips, and learn from the mistakes the failed startups committed. Also, the process of expanding your business may take a few months or almost a year to kickstart. So, have patience and just stick to the plan.
For similar posts, stay tuned with us!