Three Steps To Launch A Technology Startup Straight Out Of College
It’s that time of year when graduation caps are being tossed into the air as college students across the country graduate and embark on the next big journey in their lives. Some engineering and business-minded graduates may be dreaming of building their own company, but may not know where to start or think they don’t have the experience to pull it off just yet.
However, many technology startups are born out of the simple desire to solve a problem or frustration. And those who are just beginning to navigate the “real world” for the first time are often those who run into many of those problems and frustrations, leading them to question if there could be a better way.
It can be something as simple as getting excited when you’ve found your very first apartment, only to experience the crushing disappointment of losing it because you were not prepared with the appropriate documentation. (I know this sounds a bit dramatic, but this is the experience that led me to found my own start-up technology company while still in college.)
If you have a great idea with enough passion and work ethic, there’s no need to wait. Today, it is easier than ever to get that idea off the ground, turn it into a technology product and get it into the hands of people who need your solution to navigate life a little more easily.
Here are three steps to get your entrepreneurial juices flowing and give your idea the wings it needs to launch.
1. Take advantage of free (or inexpensive) resources.
Contrary to popular belief, founding a tech startup is not exclusive to engineering graduates and seasoned developers. A plethora of tools and resources available to developers and first-time entrepreneurs that are more accessible than ever before makes it easier, cheaper and quicker to start a technology business.
Take advantage of free computer science resources like Codecademy and online courses, including thousands from MIT that can be accessed through edX or MIT OpenCourseWare. Inexpensive paid options for online coding classes, such as Treehouse, help you bridge the gap between formal education and on-the-job requirements for $25 a month. With no shortage of options, you can learn what you need to know in order to begin building your solution.
On top of that, the amount of free or inexpensive development tools available is staggering. From open source to low code/no code options, there are plenty of ways to make software development easier and quicker to accomplish. GitHub Copilot—now enhanced with GPT-4—is surprisingly accurate at accelerating development, filling in gaps or starting code while preserving the authenticity of individual developers.
Free starter plans on cloud computing services like Firebase provide you with a way to build and initially launch your product, including hosting, authentication, databases, file storage, a serverless backend framework and more.
Despite the accessibility of sources that help with coding and design, any development team is bound to get stuck. That’s why it’s important to join developer communities such as StackOverflow where you can ask questions and get answers from knowledgeable engineers who may have already encountered and solved that problem before (or just happen to have a great idea about how to do it and help you get unstuck).
2. Ask for help, fail and learn.
In addition to utilizing available resources, be sure to leverage your entire network of people. This means running your ideas by family members and close friends who will be brutally honest and your toughest critics, but may also be willing to lend a hand.
Talk to college professors and peers who might be willing to help. This doesn’t just apply to engineers who can assist with software development. You’ll need to fill a variety of other positions to launch a company and get as much advice as you can along the way.
Build opportunities for others by enlisting college interns who are looking for work experience for their resumes. You likely know people who majored/minored in or are passionate about business, economics, communications, etc. They can round out the different functions you’ll need to launch your business, such as managing finances, sales and marketing. You can also ask people you know to be beta testers.
In the beginning, you may need to wear most, if not all of the hats. That’s not necessarily a bad thing. It’s beneficial to try every job that you’ll eventually ask or hire other people to do. That will give you insight and perspective when it comes time to manage multiple teams.
3. Don’t wait for fundraising.
Finally, there is a common misconception among aspiring entrepreneurs that you need to have a finished or operational product before you begin fundraising. Not true!
A good idea can sometimes be enough to raise funds for your business. Make a video that explains your idea—how you came up with it, what problem(s) it solves, how you’ll go about building it and bringing it to market. Enter pitch competitions (there are even some specifically for college students or recent grads)—you may get some great feedback even if you don’t receive an investment.
Investment or not, it will give you a chance to present your idea to smart investors that will challenge your thought process, uncover holes in your plan and ultimately give you a chance to understand what’s missing to make your idea a reality. Join networking groups (especially those that give you a chance to learn more about the people your business is trying to help), start a GoFundMe campaign, do anything and everything to get your idea out to people who might be willing to help fund your venture.
The most important thing is to let your passion guide you. The beauty is in the outcome, not the code. If you can make someone happy by solving a problem, you have succeeded.
Source: forbes.com
Cc: Ryan Barone
