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General questions on starting up
Question.

How to Start a Tech Company When You Have No Tech Experience?

Startup Mentors

3 years ago

Answer.

Startup Mentors

3 years ago

As a founder, you cannot be a specialist in every field whether it is tech, marketing, finance or HR but you need to be a generalist for sure which means you should be intelligent enough to ask the right questions and offer an intelligent opinion when required. To start a tech company you need strong techies on board and to identify the right people you will need help from your friends who are strong in tech so that they can interview the people you shortlist. Try to be a part of the interview and gather insights from the way your friend conducts this interview. Also read up about the technology you are going to use as much as possible. Finally, make sure whoever you on board is humble enough to educate you about tech when required so that he can benefit from your unique perspective.

Question.

How could I increase the visibility of my application/platform?

Startup Mentors

3 years ago

Answer.

Startup Mentors

3 years ago

10. There are 2 kinds of solutions to this problem: quick fixes and patient long term strategies. As an early stage founder, while the former may seem to be more attractive, the latter should never be ignored. Quick fixes mostly involve expensive means like incentivised installs and paid marketing which may even backfire later. Some of the long term strategies include working on SEO from the very beginning, creating a strong social media presence, building your own personal brand as a founder (through linkedin, participation in events, etc) and most of all strengthening the product so that your users become your brand ambassadors.

Question.

What are ESOPs and how should they be used?

Startup Mentors

3 years ago

Answer.

Startup Mentors

3 years ago

An Employee Stock Option Plan (ESOP) can be an effective tool for a start-up to attract top talent. In early stages, start-ups are usually short of cash and to acquire top talent , founders may need to share ownership with the employees. ESOP is also the right way of aligning the interests of a young start-up with that of an employee, as an employee wins significantly if the startup does well. This ensures that incentives are aligned. Start-ups need to frame an ESOP plan , and this needs to be carved out before taking external funding.

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