You don’t need to be a self-identified tech geek in order to focus on technology with your startup. In fact, a lot has changed in recent years. Silicon Valley is no longer the be-all, end-all location for technology as people have wizened up, realized that California has some of the highest state taxes for small business owners, and you don’t need any overhead at all in order to start many tech businesses. However, one thing has remained the same: Technology isn’t a trend, it’ll continue to develop, and it can be a very lucrative niche.
You can get a leg up on the competition by making sure you’re trained in the highest-paying niches (or at least hiring employees who are). You can have any kind of background from sales to marketing or manufacturing, and it’s a fantastic fit for technology. However, as a business owner your primary goal is growth, stability and overseeing the company. Why make it a tech business? Here are just a few reasons to consider:
1. New grads are hungry
It’s still an employer’s market and there are thousands of recent grads (or even tech gurus who never got a college degree) eager to work with startups. You can define startup culture in many ways, and Wired gives it a shot, but generally it’s more laidback and early employees can have a lot of say in the future of the company. It’s simple mathematics: There are a lot of brilliant tech entry level workers our there, so you have your pick.
2. The niches are limitless
Even if you don’t “technically” have a background in technology, your passion and background probably complements some type of tech niche. For example, maybe you come from a background in selling sprinkler systems. The home automation market is huge, and it’s drastically changing what home buyers are looking for. Check out Gizmodo to get a glimpse at automation right now and the mass potential it holds.
3. It’s not a trend
We’re squarely in the digital era and entered the age of mobile readiness in 2014. Technology isn’t going anywhere, so unlike some other fields (like print journalism), it won’t be expiring during your lifetime. It just makes sense to choose an industry that’s in a steady growing stage rather than one plateauing or on the decline.
4. Partnerships are natural
Since there are so many niches, it’s common for various tech companies to work together. For example, a graphic design firm might partner up with a search engine optimization (SEO) firm to get more clients and provide a broader spectrum of services. These aren’t competitors, but two industries that complement each other well. In no other industry will you have so many battle buddies at your side.
5. It’s an industry that attracts loyal employees
Actually, employees in general aren’t as loyal as they used to be. However, geeks are more analytical and aren’t quite as prone to whims as their creative counterparts. If you treat your employees well, they’re more likely to stick around. However, you still have to stay competitive and offer the kind of perks (like virtual offices) workers want.
6. Overhead is often optional
Unless you plan on opening a brick and mortar establishment or being a web host (and managing servers) you probably don’t need much commercial space at all. This can save drastically on the overhead and lets you work with a much smaller budget. Plus, your employees are often happy to take a slight pay cut if they’re able to work from home.
Is the tech industry for you? Look closely, and you just might find it’s a perfect match.