By Tian DuBelko
First-time tech founders can sometimes have trouble communicating the value of their new technology to customers and potential investors. This is because they don’t translate their product into a value proposition that investors unfamiliar with tech would understand. And when this happens, founders can become frustrated, as it can seem like investors and executives simply don’t seem to understand your technology. This leads to a breakdown in communication and nobody wins.
Something founders need to keep in mind is that most senior business leaders can’t relate. They’re more interested in turning seeing a return on their investment and less interested in the tech that goes behind it. And while most business executives have come around on new technology, it’s still on you to make sure they know the value proposition of your product.
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As a tech founder, it’s your job to translate your message and technology into values that your intended receiver can relate to. Here are some major priorities and values that will resonate with the business leaders you meet:
1. A return on investment
Every investor wants to a return on their investment. Clearly outlining the return on investment (ROI) early on will tell your potential investors that you are looking out for their investment, not just for your own. You’ll attract more investors if you can show a good potential return on their investment.
2. An adaptable strategy
Senior business executives and investors understand the difficulty of keeping up with the changing market. Startups with a clear direction early on may find that they might have to adapt their message and technology to market needs. Successful startups are the ones that can pivot and adjust on the fly, and experienced executives and investors will see that.
3. Data security
Customer data and internal data are important resources for every business that must be protected. If your startup focuses on securing customer information and has a strong message, then investors will be more likely to buy into the technology and message you’re trying to sell them.
4. Reduce litigation risks and costs
Sometimes, new technologies can bring new opportunities for lawsuits and hack attacks. You can assure your investors by pointing out patents, encryption options, and any features that could mitigate these costs and risks. You can spend more time discussing business when your investors aren’t worried about potential lawsuits.
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