Launch a company

I created a new category ‘Tech Trends’ to post some of my findings of my market research. I may also share some business ideas in the tech space, my own as well as those posted by others.

To begin with, heres a great article on Venture Beat about Tech trends for 2009 and beyond Tech Trends

The key technology trends to watch for?

- PC and online gaming (currently 9.5 % of a $9.5 billion market). Can soon start effecting sales of
console games such as WII..
- Surface computing that provides a touch screen interface such as that provided by Hewlett-Packard’s touchsmart pc. I love the idea that i may have a touchscreen to place my order at a restaurant table : -)
- Increased online ad spending ..8.8 percent growth in 2009 and 10 plus percent growth in 2010 ..$25 billion increase or more in a $157 billion market (US only).. Get your share of this big pie..It definetly looks yummy…(Source: Emarketer).

I intend to focus on building enterprise software that will be leveraged by large companies, or on the other end of the spectrum, software that can be leveraged by individual users worldwide..Im still undecided on the potential for each, but heres some trends that CIOs are keeping tabs on:

6 Emerging trends CIOs should watch for

I came across an interesting post about the typical profile of the tech entrepreneur in the US
A Profile of the US tech entrepreneur

It highlights some interesting statistics about tech-entrepreneurs:

- Most start their companies around age 39
- 92 % received a bachelors degree, 30 % masters and 10 % ph.ds.
- 45 % start their firm in the same state that they received their degree
- Most start ups averaged a revenue of $5.7 million and employed around 42 workers.

I am in my early 30s, and hold a masters degree, but have moved away from the state where i earned my degree. I don’t live in the silicon valley, nor am i in a city well known for tech startups.

Whats your profile? I would love to hear your comments on your background, what age you started your company etc..

Heres a first stab at the various goals/milestones and time lines i have set for launching my company..Actual dates may change based on how things shape up.

Goal Target Date
Market Research 5/2009
Opportunity Validation 6/2009
Business Plan 9/2009
Software Prototype 6/2010
Incorporate 7/2010
Build Team 12/2010
Go to Market 12/2010
Get to $1 Million Sales 12/2012
Raise Angel Funding 1/2013
Expand Revenues to $10 Million Sales 1/2015
Raise Venture Capital 1/2015
IPO 1/2016
Expand Revenues to $100 Million Sales 1/2017

A business that offers valuable solutions to their customers is most likely to whether the competition.

Most successful tech companies such as microsoft, eds, sas have adopted the solution selling technique which provides a complete sales architecture and framework, helping companies interface better with their customers and with the members of their own organization

The new Solution Selling technique

Great resource:

The Business of Software: What Every Manager, Programmer, and Entrepreneur Must Know to Thrive and Survive in Good Times and Bad

offers a comprehensive overview of the software business and how the right approach is key to the success of technology companies

My biggest fear and im sure an issue at the top of the mind for most other tech entrepreneurs is how to protect their most valuable asset: Intellectual property associated with their software tech product.

Heres a Great Video presentation by Sonya Sigler, VP BD and General Counsel at Cataphora Inc., who gave this presentation to members of the Intellectual Property Association at Santa Clara University on March 7, 2006

Intellectual Property at Software companies

Comprehensive information on all facets of running a business
Start Up Nation

Product strategy for high-tech companies is a different ball game altogether.

As with most product companies, high-tech product companies need to define a clear vision and strategy. The world of high -tech is constantly changing and only the companies that constantly evaluate their strategy and update it to align with changing market conditions can survive.

Some great resources on high-tech product management:

Product Strategy for High-Technology companies

Also, check out a summary version of this book at : Summary of High-Tech Product Strategy

Most entrepreneurs are stuck wondering what the right path should be for raising capital when trying to launch their companies, or grow them further.

The article below on gigaom lays out some criteria that can be used to help with this decision:Venture Capital, Angels or Bootstrap

Lessons Learnt- From Another Entrepreneur

Do check out this video.. Young entrepreneur Ryan Allis shares his thoughts on entrepreneurship..

Started his first company at 12, a computer whiz, wrote a book zero to million - how to go from zero to million dollars in sales by Age 18.

Ryan Ellis is a tech entrepreneur ..and shares my passion for building great tech products that can help make a difference in the world..

Some takeaways

- build relationships for the long term

- take that first step - take it beyond the business plan..

- have clear goals.

Do also check out his site : Zero Million
or his personal blog at Ryan Allis Blog