This is an article in my series "Lessons for tech startups", about ways startups can prepare themselves for the many ways they’ll be scrutinised in their path to funding.
It's very tempting as a startup to pick a technology that’s up-and-coming, but it’s also essential to remember that your priorities are (in no particular order):
- Getting to market with a product
- Demonstrating you have a customer base willing to commit to you
- Showing you're going to be around long enough to become self-sustaining (maybe with investment)
- If you do need investment, being attractive to investors
- Demonstrating you’ve planned sensibly for growth
And so, provided you don’t need to use a minority tech platform and your options all do the basics, your decisions should be guided by:
- Ease of hiring - is there a readily available work force you can draw from?
- Maturity - how reliable is the platform, and is there a good library framework to save development effort?
- Stability - is your chosen platform proven? Can you demonstrate how it behaves with 200% of the traffic you’re predicting? How about 2000%?
These are the things clients, acquirers, investors and partners will be looking at when they conduct due diligence (for more on this, see my article "What is due diligence?"), and it’ll make your life as a CTO or technical architect much easier as your company, team and product grows!
I've grown and guided technology platforms to scale and investment for over 15 years. If your team needs guidance on preparing for investment due diligence, platform scaling or customer experience optimisation, get in touch for and find out how I can help!