How to launch a product based startup in the middle of a pandemic
September 21, 2020
September 21, 2020
Launching a product based startup in the best of cases is hard. Ask any founder and they will tell you the same. In best conditions, as a founder of a product based startup, you need to work extra hours and through exhaustion to just finish your product. While finishing your product, you need to constantly test into your product market fit to ensure you are delivering the right features. On top of that, you need to know your competition, your marketing approach, your sales approach, support model and most importantly your pricing. Of course, this assumes you are able to meet with investors and raise capital to launch your product unless you plan to slug it out as a bootstrapped tech startup. Bottom line… doing a tech startup is really hard in best of scenarios but when you throw a pandemic in on top of the challenge it can feel all but impossible.
So what can tech founders do during these times to move forward and chase their dreams? Let’s be honest, the failure rate of tech startups is really high in best scenarios so assume it will be even higher now during a global pandemic which has crushed the economy. Yet, with every challenge creates opportunities. In the world we live in, life has changed. Our needs have changed. As a tech startup in the middle of a pandemic you need to look at opportunities to pivot into the needs of the current climate. Life as know it will return to normal at some point but that normal but not be exactly like it was or if it does to return to the regular norm, that feels really far away. So what does that mean as a product based tech startup? Solve problems everyone is facing now as they will face them for a while.
Challenges and opportunities during a pandemic
Everyone is home. This in itself is a challenge and opportunity. You have parents working remote. The needs for remote tools have never been hire. Product startups that can offer tools for remote teams are in demand more than ever. Kids are remote. Education and learning remotely range from school to activities and there is no real owner of this space. Businesses have all turned to remote options to keep enrollment up on child based activities and they need software platforms to keep track of enrollment, to engage children remotely and ensure they do not close their doors for good but instead adapt to the climate. In order for every busienss to adapt to the climate, first we need all tech startups to get ahead of the curve and begin to focus on helping small and local businesses have the tools they need to survive.
After 6 months of being home, people are bored. People of all ages and backgrounds are bored. Again this creates opportunities. Product based tech startups need to deliver innovate offers to engage and entertain everyone from their comforts of home. Software platforms and apps should be working around the clock to deliver. There is currently no shortage of beta users in the entertainment space so get to work and get it out there you have more volunteers than ever which is an opportunities you will not get often.
Time is available to work on your startup
Many times founders struggle to juggle a full time job, family and personal life with building their tech startup. However in the current conditions we have nothing but time to work on a tech startup. There is no commute. There is no lunch breaks or late meetings. There is no lag in the middle of the day that is wasted surfing the web. Now you have the ability to be home and get your day job done and get to work on your startup with all of your free moments. You will not get more time to work on your startup than you do during the pandemic where all activities are limited.
Yes, the global pandemic has made life hard and challenging. However if you are a tech founder working on a product based startup now is the time to invest all of your energy to your product. Finish it. Get it out there as you have many people ready to use it. Pivot if needed into the needs being created by the pandemic and solve a real problem people face today and will continue to face in the next 12 to 18 months. Turn this challenge into an opportunity to deliver a great product and salvage your dream of being a successful tech founder by getting off the couch, staying motivated and committing yourself to making it work even in the worse of times.