In today’s world when technology is gradually advancing, app development companies along with other organisations are looking for ways to develop and extend their businesses. However, like other trades, it’s not that easy to grow your tech business online. 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. So, you need to follow a proper strategy, see what mistakes other startups committed and avoid them as much as you can.
Some app development companies in the UK were facing the same issues while expanding their business. After facing a hard time, making mistakes and learning from them – they finally excelled through the phase. Their journey is so inspirational that we have decided to share their experience in article – so that you can learn from their experience, avoid the mistakes they had committed, and scale your business to great heights. You can read the post to go through the process in detail. Let’s begin:
What Will You Require?
1. Fresh Ideas
Tech business is all about new ideas. Remember, if your idea is old – it’s worthless. People will never buy your product (unless it’s something that satisfies their daily, e.g. a xeroX machine, a water bottle, or a photocopier).
So, if you really want to expand your business – get some fresh ideas first.
Ok, you have got new ideas that can help you expand your tech business, but are you committed enough to implement them? Most businesses refuse to implement new ideas as they’re satisfied with the user base they have and don’t want to take a risk by launching their products in new markets.
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 twice before deciding to grow your business because you lack an important ingredient, i.e. commitment.
If you want to expand your business and launch it in a new market – you need to have proper knowledge of that market first. You must have an idea about who you buyers are and what type of products they need. Only then – you can launch a proper product in that market.
Expanding your business also means that you need to increase your workforce and hire more people.
You also require funds to increase your workforce and promote your product in the new market. Moreover, you also need to have some backup if the plan doesn’t pay off.
6. Business plan
Last and the important thing you require to expand your business is a business plan. No matter how solid your business idea is – it’s no use if you don’t have a business plan for it. The business plan decides your position in the market, in the upcoming years. So, always keep a business plan.
A Few Things You Need to Know
1. Expanding Your Business is a Risky Game
Let’s be honest! Growing your business online is a risky step. Either you may end up becoming a huge success or you may end up losing everything. Moreover, there is huge competition. For example, you can find a myriad of app development companies in London and worldwide that develop millions of apps every year. 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 glued to the sky but also keep your feet firmly stuck to the ground. This will ensure that you don’t fall.”
The meaning is quite simple. If you’re planning to expand your business – you should hope that it will do well and bring great profit. However, you should also be prepared for the worst and should have a backup plan to execute if your main plan fails.
3. Don’t Ignore Anything
The main problem with the most of us is that we’re not much interested in learning things that are not related to our domain. Every time we come across such new things, a lot of questions pop in our mind like why should I learn this? How will this help me in my career? so on…
All these things look very small on the personal level and you can ignore them up to an extent but when it comes to business – you can’t afford such carelessness. If you’re a brilliant coder doesn’t mean that you don’t need to know anything about designing. Similarly, being a good writer doesn’t mean that you can completely ignore SEO. You need to keep track of every small aspect even if it’s not related to your job.
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? Come up with a unique product idea. There are already many products available in the market. How can you expect people to buy your product if it’s offering the features that are already available? Clearly, you’ve to offer something which is not available in other products. Only then, they will show interest in purchasing your product.
2. Launch Your Products in new markets
If you expect that your business will continue growing in your present market, then you’re completely wrong.
If you want to see your business growing – introduce your products in new markets. This way, not only you’ll score more userbase but you can also 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 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, firstly know what your audience want 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
What? How’s that possible? Such questions might be popping in your mind. Well, it’s possible that your present customers will bring new 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? You’ll 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!