3 Hacks To Managing a Technology Company
When managing any company, here are a few tips that can be applied to any company
Managing any company can be tough, and that is just as true if you are head of a software company. Success requires constant innovation and updates as well as a strong team dynamic and remaining up to date on the market and consumer demand. You have to strike the right balance between being hands-on and allowing your developers to do their jobs. Outlined in this guide are three hacks you can employ to make running a software company easier and give you greater potential for success.
1. Have A Good Idea and Be Passionate About It
The most important key to managing a software company is to have a good idea to begin with. Any business relies on the market and whether people want to purchase the product that company provides. Do extensive market research on your idea before going into business at all. If your initial idea does not bear fruit, then work on altering your concept into something more viable. Most importantly, be passionate about your idea and your product. Running a business is hard and there will be setbacks, some substantial. Success will require that you put in long hours, especially at the beginning, developing your idea and getting it off the ground. You will need to learn about many new and varied subjects related to business - having a good idea for a piece of software and strong coding skills won't help you with other necessary business tasks such as accounting and employee management. Be prepared to learn and always pursue additional knowledge - web scraping can be an excellent way of obtaining and cataloging data from the web. Gain new skills at every opportunity. If you love what you do, that passion will push you towards eventual success.
2. Focus On The Team
Software development almost always requires a strong team dynamic. As a manager of a software company, you need to not only form a strong team but manage them effectively. Start with forming a strong team. Consider every aspect that goes into a quality team and work to build that among your software developers. Look at the people you already have working for your company and honestly evaluate their weaknesses as professionals. If you don't have someone to fill a certain role, start the search to meet that need immediately. Do not just hire based on skill-set but also on personality. You want a team who works well together personally and professionally. Every member should challenge each other to achieve more and reach greater heights. As their manager, you are responsible for keeping the team together, focused and dealing with any issues that arise. Personnel issues are the worst because there are not always easy solutions, but they come with the territory when you are a manager.
3. Consider Outsourcing
Outsourcing certain tasks is helpful for many kinds of businesses but it can especially be beneficial for software companies. There are many different business functions you can outsource, including graphic design, certain HR functions and marketing. For software companies, however, the task most commonly outsourced is coding. There are even companies out there that can facilitate the formation of an entire overseas team to handle outsourced coding. Outsourcing is often cheaper than hiring in-house employees to perform certain tasks and allows your own employees to focus on other aspects of development. Specialized firms also usually are able to do a more professional job with items such as marketing and graphic design than untrained in-house employees can. Be sure to include outsourcing in your initial plan, not just if you are running behind on a deadline. Doing so will likely take more time and push back completion even further.
Managing a successful software company requires general managerial skills in addition to specialized software knowledge. You can acquire both via experience, books, training courses, formal education, networking with other professionals and through other means. Be sure to take the time to communicate with your employees to find out what they need and want from you, and with their thoughts in mind, you can act accordingly. These three hacks should set you on the right path to becoming a better manager at a software company.