8 Tips for Entrepreneurship in Tech

The tech world is in a very innovative place at the moment. From the boom in NFTs to AR to wearable tech, there are so many ways to get involved in the industry. As such, it comes as no surprise that so many entrepreneurs are making their way into the space, with the number of tech startups jumping by 47% in the last decade. 

But while the space is infinitely exciting, it can also be very scary for any entrepreneur, especially a new one. No one knows this better than these tech leaders who have braved the waters and found success in one of the most cut-throat industries. 

Today, they give their tops for making it as an entrepreneur in the tech space. 

1. How do you know if tech is right for you?

Guy Yanpolskiy is a blockchain advisor, demanded networker, and the soul of GuyWay Group one of the first successful companies in the UAE market founded by Israelite.
GuyWay Group promotes businesses in GCC and organizes international events. The company stands for industry improving, revealing new talents, and educating people about emerging technologies:

“With 10+ years of experience, I worked in various fields including telecommunications, crypto and trading. This background helped me to see that technology is the future and accumulate the qualifications to evolve the industry and help businesses to do the same”.

2. How do you assemble the right team? 

Sergei Sergienko is a blockchain pioneer, investor, advisor, speaker, and founder of laborx.com, one of the biggest crypto freelance services. He has also founded CGU, one of the biggest crypto gaming guilds and Chronotech, an HR focused ecosystem in crypto:

“The key to assembling the right team is to find people that believe in a combined vision of a company together. It is extremely difficult to do, but very rewarding, once done. People need to really be bound by the greater purpose than just monetary gain, they really need to feel like they are making a difference while working as a team.”

3. How do you find your niche?

Kayvon Kay, Founder and Ceo of The Sales Connection that shows Tech companies how to Recruit Top Producing Commissioned Sales Reps And 2-5x Revenue In 90 Days Or Less Using This 8-Step “Sales DNA Profiler” That Filters Out 98.7% Of Sales Talent:
“After decades working with some of the top companies around the world, I noticed a common pain-point that many of these businesses shared. They struggled to attract, acquire, and develop top sales talent that could drive bottom line results and would remain loyal to their company. This only got worse after the pandemic. Demand rose fast, and resulted in a flooded market filled with salespeople from all walks of life – and all ranges of talent. As the demand increased, I decided to act. So we spent three years building this “Sales DNA Profiler” system that filters out 98.7% of the sales talent pool, leaving only the best of the best. 

4. What is the best way to go about fundraising?

Amir Emadi, Co-founder and CEO of Toofon, Inc., an aerial logistics drone startup spun out of Caltech/JPL:

“The best way to fundraise for your tech startup is to run a process like you would in sales. First, profile the investors whose backgrounds match your tech, market, and business model. Second, prepare the necessary material such as a pitch deck, executive summary, and concise email templates. Third, reach out either directly or ideally through mutual contacts for a 15-minute introductory call (the purpose of which is to validate there’s a mutual fit and interest). I make it sound easy, but it’s not. There’s a mountain to climb, especially if you’re a first time founder. But these steps are the tools you need to climb that mountain efficiently.”

5. How should an entrepreneur stay on top of industry happenings?

Ilman Shazhaev, Founder and CEO of Farcana, a blockchain game with a battle royale shooter mode and unique Play-to-Hash economy:
“Besides the passion for gaming and tech, there are several crucial things to stay on top of the industry: building connections and partnerships, networking with industry leaders and the community, and constant self-education. This starter pack of an entrepreneur helps to stay on track and, with due diligence, outpace competitors. Almost every day, we at Farcana oversee uprising trends and emerging opportunities to enrich our product. Moreover, it is very important to have onboard supportive and high-profile teammates open to innovations, strategy pivots, and pioneering experiments.”

6. What is the best advice you’ve ever gotten?

Jan Strandberg, Ceo and founder of acquire.fi, a Web3 investment platform and wealth building ecosystem with exclusive M&A deal flow:
“I have three main tips for entrepreneurs in the tech space. Firstly, have a clear vision and be able to articulate that vision to others. An inspiring vision is a key to growing sales and a motivated team. Secondly, be resourceful and willing to put in the work. Building a successful company takes a lot of hard work and determination, so be prepared for that from day one. Finally, stay on top of the latest trends and technologies in your field so that you can continue innovating.”

7. How do you know when to pivot?

Jonathan Maxim, Managing Director at K&J Growth Hackers, a boutique growth marketing firm that helps apps go viral and generates high-ticket leads for leading-edge companies:
“The easiest way to know when to pivot is if things don’t feel right at a gut level. It may sound overly simplified, but true luminaries are highly intuitive and act without complete data.

However, intuition is not “enough” for you, there are data markers to substantiate a pivot. I always spend at least $5,000 in ads to gather data from 500+ audience and creative combinations, gauging how people respond and comparing metrics like cost-per-mill, click-through-rate and conversion rate. If the numbers don’t work at a micro level, they won’t work at a macro level. Marry that data to your gut feeling, and the answer presents itself.”