Most common technology challenges facing startups
All startups face some big trials in their early years, but technology challenges are among the most expensive and difficult to overcome. Prepare for some of the hurdles by learning about the technology set to shape industries in the coming years and how they might challenge your business.
The Internet of Things
Smart devices are set to become even more integral to business in the coming years, from watches that allow staff to check emails to sensor technology in products that will provide valuable information about customer habits. The majority of businesses, especially small companies and startups, are not ready for the switch.
The challenge will be to assess upcoming products and decide whether to become an early adopter or hold back on investing in something that might have little long-term value.
The cloud has already revolutionised the way many businesses work and has become a popular way to store and share vital information. However, the technology is constantly expanding and startups will need to make big decisions about how far they are willing to go when it comes to cloud integration.
Many businesses are struggling because they are trying to juggle too many different cloud apps. As such, consolidation will be a major challenge in the coming years. They will also want to look at ways of mobilising their information by choosing cloud applications that can be accessed and controlled viasmartphones.
The growth of cloud services and the explosion of online experiences and shared data will make security a major issue. Businesses will be looking for ways to minimise breaches, and one of the big challenges will be educating staff and customers about reducing risk.
Another challenge will be allaying customer fears. One way for businesses to do this will be by providing apps, tools and services that explain what information can be held and how it is safely stored.
The constantly expanding market for mobile devices, from phones to tablets and watches, presents businesses with the challenge of creating consistent user experiences that are tailored to the appropriate platforms.
It will be a challenge for startups to identify the type of apps, adverts and content that will appeal to their target audience. They will also need to take advantage of the growth of smart devices and engage via real-time social interactions.
Big data was big news in 2014, and it will continue to be so over the next few years. Businesses are searching for ways to harness the huge amount of customer information available to them, so one of the major challenges will be recruiting the right minds to crunch the numbers.
Businesses can use analytical tools to help them get the information they need, but one of the best ways to prepare is to train and recruit staff with previous analytical experience.
Before investing, ensure you research how each technology works and determine its long-term benefit to your startup.
by Karen Lim-Sam