Technology should only be an enabler: Coming from a technology background, it is not always easy for me to admit to moving it to a secondary note. However, having come across a lovely post on Linkedin – I couldn’t resist sharing this. You might remember that we talked recently about positioning complicated technology/AI in investment pitches. In this quick post, I’d like to talk in reference to your business plan and investment pitches.
Tech in a Startup
I love tech! This was one of the common mistakes during my initial days of fundraising. I was finding myself leaning towards talking about how AI works and its brilliance. But, I can certainly vouch from experience that tech is only a means to the end. Most often, investors were interested in tech only if they found the market/product fit appropriate. Only when they believed that there was a viable market for the product/business idea – it got them interested in Tech.
However, I don’t mean to say that tech is not important. Although it is means to an end, it still is a brilliant way to achieve the end result. Technology is only an enabler – I fully agree but can be a powerful differentiator in how you do things. It can give you the USP for your business plan.
Technology should only be an enabler
Today’s source of motivation is a lovely LinkedIn post which talks about the importance of technology and innovation. Grudgingly, I must agree with the sentiment of the post and its rationale. The bottom line for any business is to meet a custoemrs’ need or fill a gap in the market. If your business idea isn’t doing that – even the best technology is rendered useless.
I do however would love to know your thoughts about technology and its position in a startup business plan. Please share your thoughts to engage with the network of fellow entrepreneurs in your comments below.
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In my limited knowledge, I think there are two kinds of start ups – tech and non tech. For tech start ups – technology can be the driver but doesn’t necessarily have to be the driver. The main driver of course for any start up or any business is an idea or a need that they can fulfill or a gap that they perceive that needs filling and technology an enabler to make it happen.