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Where before it was necessary to invest hundreds of thousands in premises, equipment and supplies, nowadays you just need a laptop, a good idea and the desire to create. Yet the complexity and dynamism of the industry cannot be underestimated. So what does it take to really get your digital startup off the ground?
The benefits and pitfalls of digital entrepreneurship
The main advantage of digital business is undoubtedly the low barrier to entry. You can get started quickly and with relatively low costs. Often all you need is software, a domain, hosting and a few collaboration tools. But that doesn't mean the path is easy.
The digital marketplace is constantly evolving - trends come and go, technologies change, competition grows. Without at least a basic technological overview and a willingness to learn, it's hard to keep up. If you want to succeed, you need to stay up-to-date, keep up to date and adapt.
What do you need to solve at the beginning?
Even though the online world operates intangibly, the legal and administrative foundation remains important. Setting up a company, sorting out legal issues (e.g. GDPR, contracts, terms and conditions), accounting or protecting intellectual property are all key steps that cannot be skipped.
But a digital startup doesn't just stand on paper. It stands first and foremost on the idea and the people who can turn it into reality.
A good idea is essential - but how do you know?
How do you know you have something in your hands that has a chance to succeed? We address this question regularly on our blog. In short: a good idea solves a specific problem, has the potential to scale and is backed by real demand. It's not enough to say "this is what I'm missing" - you need to find out if others are missing it too, and if they're willing to pay for it.
The team makes a difference
Even the best idea stays on paper if there is no one to implement it. In the beginning, you often get by with a small team - the founder(s) and a few collaborators. But once the project starts to grow, it's time for reinforcements.
You can go two ways:
The benefits and pitfalls of digital entrepreneurship
The main advantage of digital business is undoubtedly the low barrier to entry. You can get started quickly and with relatively low costs. Often all you need is software, a domain, hosting and a few collaboration tools. But that doesn't mean the path is easy.
The digital marketplace is constantly evolving - trends come and go, technologies change, competition grows. Without at least a basic technological overview and a willingness to learn, it's hard to keep up. If you want to succeed, you need to stay up-to-date, keep up to date and adapt.
What do you need to solve at the beginning?
Even though the online world operates intangibly, the legal and administrative foundation remains important. Setting up a company, sorting out legal issues (e.g. GDPR, contracts, terms and conditions), accounting or protecting intellectual property are all key steps that cannot be skipped.
But a digital startup doesn't just stand on paper. It stands first and foremost on the idea and the people who can turn it into reality.
A good idea is essential - but how do you know?
How do you know you have something in your hands that has a chance to succeed? We address this question regularly on our blog. In short: a good idea solves a specific problem, has the potential to scale and is backed by real demand. It's not enough to say "this is what I'm missing" - you need to find out if others are missing it too, and if they're willing to pay for it.
The team makes a difference
Even the best idea stays on paper if there is no one to implement it. In the beginning, you often get by with a small team - the founder(s) and a few collaborators. But once the project starts to grow, it's time for reinforcements.
You can go two ways:
- Gradually build your own team - reaching out to skilled programmers, designers, testers, marketers, and production people who will share your vision and grow with the company.
- Hire a cohesive team - there are companies like ours that have experience building digital products and can help you go from zero to launch quickly.
There are pros and cons to each approach - the former can be more cost-friendly if you know the smart people around you. The issue is the quality of the product and the speed of the rollout. With the second option, you can get the project off the ground more professionally and quickly if you come across a good company.
Do you have an idea for an app? We'd be happy to go over it with you.
