With the level of advancement in technology, building a digital startup has become so easy like never before. In fact, you don’t need a technical co-founder or any knowledge of coding to build one! By using content management systems and resorting to Magento 2 migration, almost anyone can build an e-commerce store from scratch without coding.
This post will cover everything you should know about building a tech startup without a technical co-founder. Also, we will look at some of the common stereotypes about startups. Keep reading till the end to find out more!
How to Launch a Tech Startup
As a non-tech savvy person looking to bring your startup idea to life without a tech co-founder, these are the things you must do:
Go as Far as You Can All by Yourself Without Coding
Making money is always the main focus when starting a tech company; not coding. Every product that is sold seeks to make its owners money. On one hand, having a tech co-founder from the start is beneficial in order to figure out how the service/product should perform. On the flip side, the pitfall is that techies always want to jump into development right away, when it might be safer to first do some market research to see if your idea is viable and wanted.
1 in 10 startups succeeds, according to what you have probably heard. Having no market for their goods is the reason for 42% of businesses failing. They are not needed by anyone.
As you can see, you don’t have to wait for a tech co-founder to launch. Once you’ve verified your idea, it becomes a lot simpler to attract a tech partner. Use your business experience as much as you can. Therefore, finding developers or writing code are not concerns you should have in the beginning. Make a simple smoke test first without using any code. You should determine at this stage whether investing money and time in your startup is worthwhile.
Own Your Role
It’s important to know how applications are created and function, but it’s not worth learning programming from scratch just to create your own product because your contribution to other aspects of the company may be just as, if not more, crucial.
The first step in starting a business without a technical co-founder is to optimize the value produced by your current resources. This involves talking to potential customers about your concept and qualitatively confirming it, as well as pre selling the product and developing an audience—basically everything you can and should do while a coder transforms your ideas into a useful solution. This is a fantastic strategy for luring top partners. In any case, it is the only way to create a successful startup.
Get Appropriate Funding
Any startup relies on money to survive. You will need money to get your startup up and running. According to studies, 29% of firms fail due to a lack of funding. Funding is the gasoline that turns a concept into a firm that generates income.
Short of ideas on how to raise funds for your startup? These are ways to raise money for your startup:
Family and Friends
Asking friends and relatives for assistance while your startup is still in its early stages is actually a good idea. Loved ones who share your values can support you.
Venture Capitalists
Experts that have a keen eye for spotting firms with extraordinary potential oversee VC funds. They pocket their earnings and look for other investments upon the acquisition or IPO of the company they invested in.
Angel Investors
People with enormous amounts of capital are known as angel investors. They can make a sizeable investment in any startup they believe will disrupt an industry.
Typically, they make an investment in exchange for startup equity. Unlike venture capitalists, angel investors typically don’t seek immediate returns and are aware that it can take some time for a startup to earn a profit.
Websites such as AngelList, SeedInvest, Tech Coast Angels, and others are places where you can locate angel investors.
Hire a Developer
When you have completed the smoke-testing process and your concepts have proven to be sound, it is time to get in touch with a developer who will help bring your product to life.
When hiring, you have three options:
- A freelancer
- An outsourcing development agency
- In-house developers
The Most Common Stereotypes About Startups
Now that you’ve known how to launch a tech startup all by yourself, let’s look at some of the most common stereotypes about startups.
A Tech Co-founder is a Must for Any Tech Startup to be Successful
There are many skeptical and demoralizing books that must be battled through in order to dispel this stigma. However, amidst these discouraging challenges, you could come across inspiring true accounts of businesspeople who succeeded without a tech co-founder while still creating outstanding companies.
For instance, Ben Silbermann’s life narrative, who is the CEO and co-founder of Pinterest, tells of a man who intended to study medicine but ended up founding one of the most well-liked visual media platforms with more than 250 million active users.
You Must Have a Partner to Run a Successful Startup
It can be difficult to launch a tech firm without a co-founder. You will have to make all of your own decisions, assume all of your own risks, and put in a lot of labor. However, the task is not insurmountable.
Haje Jan Kamps conducted research to see whether the number of co-founders can affect a startup’s success. A whopping 46% of the 7,348 businesses that raised more than $10 million in funding were run by lone entrepreneurs, 32% by two co-founders, and only 22% by three or more. Thus, 3,380 of these startups—nearly half—are led by a single individual and are profitable.
Conclusion
How can I launch a tech startup without a CTO? Many people are troubled by this question, yet it is not so difficult. You don’t need a ton of code to start a software company; all you need is the appropriate strategy.
It’s not everyone’s job to come up with a game-changing concept, visualize a solution, overcome obstacles, and produce a product that has an impact. But those with entrepreneurial minds who are passionate about achieving the objective and have a clear objective and vision, can.