How to Start Your Own IT BusinessNovember 8, 2019 No Comments
Featured article by Russell Emmental, Independent Technology Author
As we live in a world where we are surrounded by phones, social media, and Alexas, it is clear that information technology (IT) is an integral part of our existence. However, navigating the world of IT for the general consumer can be a minefield: there’s so much to think about, and sometimes it can be overwhelming.
This is where IT businesses play a pivotal role. They serve the purpose of meeting the concerns and demands that consumers naturally have as a result of living in the information age. Subsequently, if you are a budding entrepreneur or IT geek who is looking to take their first steps into starting their own business, the IT market is ideal for your business.
If you want to take the leap and start your own IT business, here are a few simple steps to help you get started.
Determine Whether Your Business Will Be General or Specialized
There are generally two ‘types’ of IT businesses: general and specialized. Determining what category yours falls under is crucial for your success. If an IT company is specialized, that means that they focus on a smaller selection of services, but in turn, provide more depth to said services.
Let’s say, for example, that you want your business to specialize in cybersecurity. This will mean all the services you offer will relate to different aspects of that.
Meanwhile, if you want your IT business to be general, this means that you will provide a range of different services as opposed to focusing on just one branch of it.
Going down either route has advantages and disadvantages. If you specialize in an area of IT, you will get a specialized customer base which, in turn, risks alienating other areas of the market. If you have a general IT business, you will provide a range of services, but they won’t be as in-depth.
Think about Your USP, Potential Competitors, and Target Market
The key to any business success is seeing how they fit into the current market. If there is a gap in the market that their products and services propose to fill, they are more likely to be successful. This is a simple matter of supply and demand.
Subsequently, when setting up your own IT business, you need to think about your unique selling point (USP). What makes your business different from competitors? Is there a gap in the market that your business will address? Who is your target market? Businesses or individuals? How will your businesses fulfill their needs?
The best way to answer some of these questions is to research. Determine the basic outline of your business and who you’re targeting, and make a list of potential competitors. See what these competitors are doing and see how you can make your business better.
Also, do a little market research. Set up a survey or focus group for what you think your target market is and pitch your business/USP to them.
Enlist the Help of a Business Consultant
Once you’ve established the basic outline of your business, it is really helpful to enlist the help of a consultant to help your business go further and succeed. Different consultancy agencies focus on different things, so it is advisable to pick an agency that would help you achieve your specific goals.
A digital innovation agency, such as Icreon, for example, will focus on how to grow a business and increase its efficiency by incorporating customized software and exciting technologies and methods.
Starting a business from scratch can be daunting, but if you follow the steps above and know what it is that makes your business special, you will be in good stead to succeed. Good luck!
Russell Emmental is predominately a finance journalist and ex-banker. He lives in Utah with his family and is a keen aviation enthusiast in his spare time.
DATA and ANALYTICS , SOCIAL BUSINESS