At exactly what point does a startup become something more, something larger? At first, the early employees define themselves by the scrappiness and resilience required to launch a startup. Eventually, there’s an opportunity to move from startup to scale. Apps are the backbone for tech companies because they are the interface through which consumers use their services and contain the company’s digital secret sauce.
Let’s check out some successful tech companies to see what an app looks like after disrupting its industry.
“The customer is always right” is a pre-digital business mantra that means sales close more assuredly when customers get what they want. Today, tech companies need to serve their customers’ needs to create a better experience than their competitors. The effort isn’t enough; you must leverage data in a way that delivers better services than they can find elsewhere.
Digital disrupter Regan McGee, for one, created Nobul to pair homebuyers with the most suitable agent to save them time and money. All a user needs to do is tell the app what their budget is and describe what they’re looking for in a home, then agents vie to get them as a client.
Because the agents are incentivized to win their business rather than the reverse, they typically offer cashback or free additional services. As McGee said to Toronto Life, “people typically think that buying and selling real estate is complicated, but that’s a way for agents to justify their fees.”
You’ll know your startup has definitely become a legit company after you handle over 10,000 transactions and pass on to customers over $45 million in savings, as Nobul has managed to do.
Going from startup to scale involves setting up a plan for exponential growth. You wouldn’t run a business without full access to all the numbers, so why would a customer use your platform without the same data?
When it comes to reliable real estate technology, Nobul doesn’t accept money from real estate agents to get paid or listed on their platform, so users know that the data they’re seeing is dependable. Homebuyers are free to look at each agent’s statistics, including things like the number of deals closed, commissions, and verified user reviews.
Customers need easy access to the most relevant data, just like startups crunch all the figures underlying their business model to grow into a full-fledged company.
Technology can be a double-edged sword: customers want personalized services that increasingly feel curated and even magical, but they worry about privacy risks. The last thing a startup needs is to cause a privacy breach that leads to enormous financial, reputational, operational, and even legal setbacks.
Safeguard your customer’s privacy from the outset, and you can avoid major problems down the road.
Developing a company takes lots of patience and vision. The startup space is crowded, and at some point, you need to go way beyond tech cliches about “hustle” to set yourself apart. Remember these core values, and you can take your tech company from startup to scale quickly and in a healthy way.