If you are planning a tech startup, there’s a lot to consider and while some would say now is not a good time to launch a new business, fortune favours the brave and if you are bringing something of value to the tech business arena, there’s every reason to expect success. In order to help you plan the perfect implementation, here is our tech startup checklist to ensure nothing gets forgotten.
- Product/service – If you have a team of app developers who know their stuff, or machine learning is your thing, then you have something to bring to the table. It is crucial that your products/services are in big demand and you should ask yourself what it is that you represent.
- Funding – Crunch the numbers to find out how much money you need to launch the venture; add to that an amount that would support you for 6 months without an income and that should be enough to see you through the first phase of your launch. Have a funding avenue available, should you need it; anything can happen in this life, so be prepared. If you have equity in your home, find out how quickly you can liquidate that, in a worst-case scenario.
- Legality – The days of winging it are long gone and you need to register your business in Thailand and take advantage of the BOI incentives, which are very attractive to foreign tech entrepreneurs. Take out some public liability insurance and make sure you have a work permit and if you are registering the venture in Thailand, you can enjoy low taxation.
- Digital marketing – Don’t make the mistake of thinking you can do without SEO; it is critical that you reach your target groups and with Google Ads in Bangkok, you can reach the right people who are looking for what you have.
- Human resources – How quick can you put a project team together? If you land a contract, it is likely the client wishes to go full steam ahead; connect with the best tech recruitment agencies and when you need an experienced back-end developer for an immediate start, you are covered.
- Workspace – Of course, you and your team will need some suitable workspace; shared offices are very affordable and have all the equipment you need. People can work remotely but there are times when a team meeting has to happen, plus it looks good when you invite a potential client to your offices. Click here for a few open office designs.
- Secure cloud network – Talk to a managed IT services provider and use the network to store all critical data, as well as VoIP communication, when you can call video meetings with other developers. State of the art cyber-security is a must, something the IT services provider can handle.
Once you have registered your startup, you can hook up with a Bangkok-based SEO agency and prepare your marketing content. There will be setbacks and issues, there always are and with hard work, determination and a little good fortune, your tech business will enjoy steady growth.