Many entrepreneurs are looking for industries to invest in that will give them a quick payday. Over the last twenty years, the tech industry has produced what seems to be overnight billionaires. This has driven many young techies to throw money and resources into tech companies that often fail. But how do individuals with legitimate ideas and solid business plans create their own startups to get acquired by major tech companies? The following are a few ideas from entrepreneurs who have made it big in tech.
Most successful startups are founded by people who aren’t necessarily trying to get rich fast. These people have developed a knowledge of a particular problem and are relentless in their pursuit of the answer to the problem. As a result, they build a business around improving the problem which, if practical and effective, can be noticed by larger tech companies that pay big bucks to acquire them. Therefore, many who have become a billionaire in the tech industry did not have acquisition at the forefront of their plans. They were driven by passion not profit, after all for every one entrepreneur who makes it, there are thousands more who don’t.
If you’re looking to join a possible startup, then you must develop or have a skill that is valuable. This means you must be a kick ass designer, product manager, engineer, or other team member that is indispensable. Once you’ve acquired or developed your skills, be picky about which startup you choose. Join the team while it’s still developing and make sure the leader has a vision you believe in. It is much easier to work hard for people you believe in then when you’re on the fence.
What most people don’t realize is that creating and selling a startup involves a ton of hours in seclusion, and results in hours of frustration and disappointment before the final product is realized. So you might as well spend time fixing a problem you care about, and expect to spend years in the garage or your dorm room creating and destroying prototype after prototype. Successful tech entrepreneurs understood that life in the lab or basement isn’t just to be endured, but enjoyed. It is a time for learning and camaraderie.
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