15 Tech Startup Strategies Every New Business Can Embrace

4 Mins read

In the ultra-competitive tech industry, launching a new startup poses unique challenges. It takes special skills and strategies to adapt to the ever-changing market. The industry is extremely fast-moving, and with such a saturated market, a company must differentiate itself to succeed.

In light of these challenges, tech entrepreneurs often adapt by developing a particular—and innovative—mentality. Here, 15 Forbes Technology Council members describe features of the “tech startup mentality” that any company can embrace and offer insight into how these features can be adapted to work in any industry.

1. Constantly Iterate And Improve

Non-techies often equate tech startups with free dry cleaning and IPA Fridays. But what they need to replicate instead is the constant iteration of the product to be more and more relevant to customers. Tech startups don’t build a product once and then launch a sequel 12 months later; they are constantly tweaking and improving the product in real time based on feedback. We can all drink to that. – Sterling Lanier, TurnKey

2. Focus On An Unserved Niche

Startups are driven by big dreams, but not always by big ideas (at first)! While looking for big solutions may be more appealing, there’s often a market that the “giants” ignore where companies can unlock potential. Successful companies use their technology and skills to create solutions for a small group of people who have been looking for an answer for a long time. – Jeff Tao, TDengine

3. Delegate Quickly And Efficiently

It may sound like unpopular advice for startup leaders, but I think an important strategy is delegating. If your startup succeeds, you’ll need to grow your team and grow as a leader. Suppose you are stuck in micromanagement and cannot delegate quickly and efficiently. In that case, you won’t succeed, and your product—even if it’s an innovative one—will remain stagnant. – Alex Pasykov, Hily Corp

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4. Cultivate An Innovative, Customer-Centric Mindset

Most startups need to pivot and embrace a new direction at least once. Often, this means making difficult decisions, such as challenging existing ways of working or killing unsuccessful products. Keeping your eyes on customer needs will keep a company competitive in the long run. – Maciej Kranz, KONE

5. Be Willing To Take Risks

The secret to success for tech startups is often simply moving faster than the competition. In a rapidly changing landscape, the ability to quickly adapt and innovate is critical. This means being willing to take risks, embrace new technologies and ideas and move quickly to implement them. – Aron Brand, CTERA

6. Don’t Sacrifice Service For Efficiency

Fast-moving startups must be mindful of what they’re gaining and losing, especially regarding customer interactions. Many startups try to automate as much as possible to maximize convenience and efficiency, without providing an option to escalate to a human conversation at the right time—especially if an issue arises. This moment can be a critical turning point for customer loyalty. – Gregg Johnson, Invoca

7. Build A Culture Of Quick Experimentation

Startups succeed because they have a culture of building intelligent experiments that they can validate quickly. And if the experiment achieves less-than-desirable results, they can pivot quickly. I’ve seen larger companies fail with new products because of their inability to experiment and validate. – Shubhi Nigam, Insight Browser

8. Listen To Your Customers

Be customer-centric. The answers are always with the customer. Is the pain point real? Is it big enough? How big? Will they pay? Is the solution we are about to build the one that they need? Talking to customers is just so essential; so is tenacity, as it will take much more effort, time and money than you thought. – Boyan Ivanov, StorPool Storage

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9. Balance Daring And Planning

It’s wise to have a “go-for-it” mentality—but without jumping blindly into the pool. Don’t get carried away by competitiveness; instead, find the right balance between daring and planning. It’s advantageous when looking for investors: Think about what you want to convey, not who you want to convince, at all costs. – Jacob Mathison, Mathison Projects Inc.

10. Develop A ‘Technology Sandbox’

A key tech startup mentality that any company can embrace is to create a “technology sandbox” program on the public cloud so that new ideas can be quickly and cost-effectively incubated and tested. This is a critical component of the development process if you’re to succeed fast, as well as fail fast. – Mark Schlesinger, Broadridge Financial Solutions

11. Have A Unified Goal

What underlines a successful “tech startup mentality” in a team is a unified goal that everybody is aligned on and laser-focused on achieving. It’s also important to accept (fast) failures as an integral part of the journey. When a company grows and scales, the magic in growing lies in finding a way to effectively communicate, fight for focus and embrace risk, even when the expectation is for some predictability. – Maya Mandel, Helios

12. Understand The Difference Between ‘Action’ and ‘Motion’

Motion toward your goals makes you feel good—you think you are chipping away on the path of getting to where you want to go by talking about and planning for activities that help you win. Action is actually putting in work toward your goals. The sooner you understand the difference, the quicker you start to prioritize the things that matter. – Andrew Siemer, Inventive

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13. Get To Revenue As Quickly As Possible

While valuations can rise with business models and audience growth, in tough times, people turn back to profitability. To be profitable, you need to make money. Getting there faster builds confidence, and it allows you to attract investors and grow more rapidly after this hurdle is crossed. – Blair Currie, Snibble Corp.

14. Test, Measure, Repeat

Startups have the speed and lightness to test an MVP in the market, get feedback and improve until the product is right. This approach can be implemented fully or partially by larger companies. Just cancel some of the unnecessary meetings and get to work. – Igor KhalatianIris Dating

15. Meet Potential Clients And Investors In Person

Networking and communication are invaluable skills that cannot be overlooked when launching a startup in the ultra-competitive tech industry. Many innovators focus entirely on products, but even the best products fail when no one knows they exist. Next-gen entrepreneurs must step beyond emails and texts and get in front of potential clients and investors in person to drive a successful brand. – Raymond Wang, Greenland Technologies Holding Corp.





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