The 21st century has established new paradigms for companies and entrepreneurs, with the digital revolution that cuts across all areas. Different sectors have come to rely on custom-made technological solutions, above all, with the growing, and more massive arrival of tech startups.
By the way, startups are an entity of the digital revolution as they gained prominence. And public notoriety with the rise of the internet, especially during the crisis in 2000.
In addition to designating an entrepreneurial economic philosophy, the startup is a type of company that seeks to develop or improve a business model with growth potential. And among these startups, some use technology more centrally than others.
In this article, you will find out some of the techs that startups embrace to revolutionize each segment that needs powerful transformations.
Stages for Tech Startups rising in every area
1- Long-term vision
There are several names to describe this phase: company mission, big dream, etc. But nothing else is the vision of where the company can go in the long run. Nobody should start a business to pay the bill for the month, but of achieving better results in the long run. Especially if you are creating a startup.
Tools that can help your startup in long-term planning:
Business Model Canvas
Business model type planning. It shows the entrepreneur in a simplified way all the most important aspects of his business. Allowing in a single afternoon to build a company’s vision of the future.
A simplified version of the Business Model Canvas with a focus on earlier businesses. Focuses on elements such as ideas and differentials before thinking about key partnerships or forms of relationship with customers
Technology Road map
The future vision of the company’s technological planning. Using the market as a guide to which technologies should be developed or using technological planning to plan the markets to be attacked.
2- Medium-term vision
It is necessary to draw strategies to materialize your dream. The long-term vision in general is still far from the reality of the company’s employees. And even if the founder can see this path clearly, it is necessary to bring to everyone’s reality what this path is.
Tools that can help your startup in mid-term planning:
Quarter, semester, or year planning
Every company should start planning sales, product development, profitability, and so on. Even if at first it is a little more difficult to get these numbers right, the exercise is important for the entrepreneur’s development.
Depending on the stage of your business, this schedule can be shorter (a quarter for example) or longer (a year for example).
This planning helps to see the entrepreneur’s vision of the future and growth and is usually the ideal period for the company to need to raise more resources in a new round of investment. Thus, the investor is analyzing whether or not he likes the company’s growth rates, as well as whether it will reach a sufficient stage for a new capital injection.
Triannual planning or five-year plan
For startups, this is often almost the long-term view. Plans that look 3 or more years ahead are unlikely to materialize in this way, but they help the entrepreneur to understand the potential or not of the scale of their business, as well as help in the startup’s valuation view.
3- Short-term vision
But what are you going to do tomorrow? This week? It is impressive the number of entrepreneurs and professionals who start the week with no idea what they are going to do. They work harder and get fewer results in the end.
Tools that can help your startup in short-term planning:
Scrum is an agile management methodology that was created to guide the product development process in information technology companies.
But it can be adapted to manage your company’s day-to-day. The general concept is to break your mid-range plan into one- or two-week sprints. And plan the details of these sprints just at the beginning of each of them.
List of the “to do” of the week
If you don’t know what is scrum, you can at least start with your famous to-do list. Even if it’s on paper, it helps to organize what has to be done and the priorities for the week.
Startup and Techs
There are several names given to these companies that have the suffix Tech as a common element, as they use technology in a protagonist way in favor of a certain segment or area of the market.
There are companies of different sizes that use technology, but particularly in the world of startups, the entrepreneurial philosophy found in Techs is a way to put into practice some of its main values: innovation, disruption, and agility in producing solutions with often smaller investments.
The accelerated growth of some of the companies in the sector is responsible for popularizing the term Fintech, after all, you may have read or heard about Neon, Nubank, among many other examples.
Companies in this sector are active in offering more dynamic payment methods, more efficient services and are focused on improving the quality and efficiency of the financial sector through technology.
Legaltech or Lawtech
Both terms are alternatives to designate companies that develop products or technological solutions for the legal market.
In general, companies called Lawtech or Legaltech are services based on data that make life and monitoring legal. And legal aspects look simpler and may act through software, consulting, among other examples.
HRtech companies tend to facilitate the interface with the company’s employees and collaborators. They seek to bring results in the performance of functions and the production of practical indicators for management. In addition to supporting the communication process with collaborators.
These companies prioritize sustainable energy sources (wind, light, heat, and tidal power) and reduce the use of non-renewable resources (oil, natural gas, and coal). They use technology to improve business performance, optimize processes, reduce waste and costs. In addition, they pollute less and reduce waste production.
They act not only in delivery (as many people think), but in the entire food chain (producers, suppliers, and consumers, solutions to optimize processes, avoid food waste, promote sustainability, packaging recycling, etc.).
Startups focused on the agricultural system, in which the technology adapts, for example, new production models, reducing costs, time and labor; they improve productivity, product quality, avoid waste and make life easier for rural professionals. The solutions include precision agriculture (soil and climate variability), crop monitoring, and equipment modernization (sensors, drones, GPS, among others).
Technology brings modernization and solutions to internal and public administration problems. Among the objectives are the reduction of bureaucracy, transparency, and the implementation of public policies to benefit its “customers”, that is, the citizens.
Tech Startups for all niches
Given the professionalization of the market and the increasingly ascending offer of technical solutions carried out by specialists, it is natural that the number of Techs for different segments will increase.
Nanotechs, Retailtechs, Biotech, Insurtech, Healthtech, Mediatech, etc. Countless business models understood that technology plays a central role in the contemporary world.
There is enough pain in a segment And entrepreneurs desire to create or improve a process, with a disruptive vision. For a startup to be born, and for each phase, someone is willing to believe in this idea.
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