Resolutions are made every year, for every year, but seldom kept. Only the resolute few are able to keep them, and that’s what makes New Year resolutions so good. They aren’t much different from many tech startups that start with a bang but end with a whimper.
Zuckerberg’s 2018 resolution to fix Facebook failed miserably. Privacy breach scandal proved fatal for his company, to say the least. At the same time, Google and Twitter also had to take a lot of backlash in 2018. But let’s not dwell in the past, for it’s never too late to make things right, right?
Every tech entrepreneur can learn more than a lesson or two from what happened last year. Let’s see the top New Year resolutions that every tech business owner should try to keep this year:
Better Data Protection
May 2018 witnessed General Data Protection Regulation (GDPR) in effect all over the Europe. While European Union is leaving no stone unturned to keep customer data safe, we can’t say the same is going on in the Silicon Valley.
As mentioned before, Facebook seems to be unwilling to protect user data. And then there was Google’s security snag that leaked half a million users’ data.
Keeping the above two scenarios in mind, tech entrepreneurs should conduct a thorough scrutiny to remove any and all glitches that can lead to data leak. Mobile app development needs to be more robust and secure to maintain the highest possible data privacy.
Customer privacy should never be taken lightly, and yet, the history is flooded with events where customer data is exposed to authorized parties, both intentionally and unintentionally. Make sure it doesn’t happen from your side.
Spend Investors’ Money Wisely
Mistimed expansion is the primary reason behind many failed startups. Entrepreneurs who were able to gather a substantial venture capital chose to scale up without testing the waters. Similarly, many startups expanded to other markets without establishing a firm footing in their first base.
Investors trust you with their money, just the way you trust a mobile app development company with yours. You want return on your investment, so do the investors.
Venture capital is like wax wings given to Icarus, Don’t fly too far too quickly
Speaking of mobile apps…
Prepare For The Rising Mobile Traffic
This is where the game changes for many ecommerce entrepreneurs. The growth rate of ecommerce industry may vary, but it will keep growing over the years. Ecommerce mobile apps are enjoying a rapidly increasing traffic of users. Make sure your ecommerce mobile app is prepared to handle the rising number of users.
Keep your app updated, pay attention to user reviews that revolve around app and not just your services. There are many users who may like your services but don’t like your app’s interface, design. App related feedbacks must be taken as seriously as service related feedbacks and ratings.
Mobile apps are no more an extension to your ecommerce website; they are now an integral part of the business.
Curb Fake Reviews
Paid but fake reviews is a common blackhat marketing practice. While it’s not unusual to pay someone to write positive reviews about a company, it’s the paid bad reviews that are the primary concern. The crab mentality is running rampant on the internet, and it needs to be curbed as soon as possible.
It’s one thing to be all praises for oneself, but badmouthing a competitor with baseless allegations is downright unprofessional.
Make sure you don’t indulge in this malpractice, let’s grow together as one community. Being competitive means being better than the competitors, not bringing them down.
Say No To Monopoly
Monopoly doesn’t do any harm to economy as such, neither is it a malpractice. But it has been observed that a competitive environment helps industries grow better. Monopoly brings a feeling of market dominance, and businesses may end up start making decisions at their own whims. The focus, as David Ogilvy, the father of advertising said, should be on your customers. In addition, user experience should always be in the centerstage. Monopoly tends to take that focus away.
Focus On Your Employees
Richard Branson, the founder of Virgin Group said, “Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.”
His words have been proven right times and again. Companies with amazing employment policies are known to have better productivity and growth rate. People need appreciation for their work. Keeping your employees motivated and appreciating them for their efforts is important. It makes them want to do better.
We could have easily extended this list to many more points, but we chose to focus on the ones that matter the most. All these points will help you set an example in the world of tech entrepreneurship. Let’s create a tomorrow full of better businesses, together.