product design challenges facing new startups
The face of modern technology has evolved so quickly that it has granted many entrepreneurs opportunities they would have otherwise only imagined. However, such a hastened advancement has proven to be a double-edged sword. Not only are today’s tech startups achieving goals they could only dream about, but they’re also facing some nightmarish challenges that had never been considered.
With that in mind, we’ll examine five common design challenges facing new startups in the 21st century.
Most millennials are able to appreciate originality and innovation in every aspect of their lives. A recent survey reinforces this idea by reporting that 65% of modern startups use creative design as a leading force behind their brand. In fact, some creative thinkers are able to revamp or upgrade products that are already on the market, thereby making a name for themselves in the process.
Google, for example, has already revolutionized the concepts of Wi-Fi and virtual reality. With Google Fiber now expanding to even more cities and offering even greater download speeds than ever before, it’s anybody’s guess as to how the tech giant might grow and advance in the coming months, years and decades.
It can be hard enough for an established company to create a buzz around new products. For a startup that is new to the industry altogether, the difficulty increases exponentially. Not only do you have to create awareness of your product line, but you’ll need to promote your company name and brand, too.
Thankfully, the internet can be a real boon when trying to create awareness. Professionals who specialize in online content creation, marketing and search engine optimization can be incredibly helpful when you’re trying to gain a position amongst the industry giants. Even the creative use of advertising mediums, such as the creation of short videos, podcasts or interactive websites, can go a long way in establishing yourself in a world that is full of competition.
3. Product Form Factor
Other aspects that can affect the success of your product, believe it or not, are its physical size and properties. With technology becoming smaller as it continues to evolve and advance, today’s consumers are always on the prowl for new products that are sleek, stylish or comfortable.
While modern hardware does present some limitations regarding the final size of a product, even these technologies are becoming smaller and more streamlined. Circuit boards, for example, are far more versatile than ever before. As the spaces between two electrical conducting paths are 0.006″ or smaller, circuit boards are able to maintain a minimal form factor.
4. New and Upcoming Technology
As mentioned above, the rapid advance of technology has had both negative and positive results for new tech startups. Not only do new entrepreneurs need to consider the current state of the IT industry, but you’ll want to scope out some possible future trends as well.
The relatively recent introduction of the Internet of Things (IoT), which has created a vast network of interconnected products and services meant for consumer use, is providing startup enterprises with unexpected opportunities and new technological advancements on a consistent basis. Entrepreneurs who are able to familiarize themselves with the IoT and its unique challenges facing new startups are sure to gain some ground over those who ignore it as another passing fad.
5. Initial Funding
If you are completely new to an industry, the process of locating and securing investments can be an arduous undertaking. The world of information technology is no different and, unless you’re building a company off an inheritance or trust fund, you’ll probably have no other choice than to pique the interest of some investors.
The team with InVision recently sourced a total of $55 million in Series D investments to support collaboration in the design and development of IT-related products. While the company is still relatively young, especially in comparison to some of their competitors, they’ve been able to reach a level of success that might not have been possible without the help of third-party investors.
Finding Your Place as a New Tech Startup
The tech industry’s dominance by such names as Google, Microsoft, and Apple is enough to make any young entrepreneur quiver in their virtual boots. While the field is certainly intimidating, it’s one that can be penetrated through hard work, adaptability and strong business prowess. Knowing these challenges facing new startups can help you start your business with a better idea of what to expect.
Image by Jeffery Betts, CC0 I the author have permission to use this image.