The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

What is the best way to become an entrepreneur in the IT industry?

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

JohnFuture

Contributor
Feb 4, 2018
46
31
49
28
Europe
Hi guys,

What is the best way to become an entrepreneur in the IT industry? How do you balance between people and IT?

I'm now on the stage where I'm not sure if I am doing the right way. I want to become an entrepreneur. But what kind of person is an entrepreneur? For example in the IT company. A person who leads other people without doing the technical part? Or the person who used to do the technical part but after years of hard work now it's dealing with people management, deals etc.?

People like Bill Gates, Elon Musk etc. all these guys used to do the technical part of the job but now they are dealing more on the business side. However, in many businesses people never did the 'technical part' but only straight to the management and they are successful.

My question is: What do you think, what would be the best way to become an entrepreneur? Sometimes I think if I will focus too much on the technical part I will not be successful with people and opposite. Or perhaps everything must be in balance?

For my own experience, I attend different IT conferences, workshops and also university and independent IT study as well as I attend toastmasters and leadership places where I can boost my leadership.

What can you say, what is your experience?
 

Windward

New Contributor
Read Millionaire Fastlane
Feb 1, 2018
8
10
22
Perth Australia
What is your goal in terms of IT entrepreneurship? Begin with what you want to achieve and work backwards to find where to start. You'll also figure out where to focus doing this as well, you may also find your focus changing over time as you learn!
 

Hyrum

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 5, 2016
188
657
269
Nebraska
Find something that people want and build it / sell it to them. You can go to all the conferences and seminars in the world and you’ll never be an entrepreneur until you take action.
 

Owner2Millions

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Feb 21, 2017
144
143
83
Chicago
The IT industry is HUGE!!!!! I think if your looking for building something software related there are a few Gold threads pertaining to software. If your more on the hardware side, I think you would need patents and stuff in order to build electronics to sell. Unless your focusing on the maintenance side of IT and not the development/engineering side of IT. Then you would be reselling other companies products and fixing them.....Like I said in my first sentence.....IT is HUGE! maybe as big as medical........well not quite but its getting there.
 

Kak

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jan 23, 2011
7,639
33,670
4,554
Texas
What is the best way to become an entrepreneur in the IT industry?

It’s the same as any industry. When you become an entrepreneur you are going out on your own. People are no longer going to tell you what to do. It isn’t a job.

You will need to research, make peace with the fact that the decisions are yours and only yours, pull the trigger and be prepared for whatever the result.
 

Jade.backer

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Feb 3, 2018
29
18
19
25
USA
The IT industry is HUGE!!!!! I think if your looking for building something software related there are a few Gold threads pertaining to software. If your more on the hardware side, I think you would need patents and stuff in order to build electronics to sell. Unless your focusing on the maintenance side of IT and not the development/engineering side of IT. Then you would be reselling other companies products and fixing them.....Like I said in my first sentence.....IT is HUGE! maybe as big as medical........well not quite but its getting there.
I'm going to say I agree with you.
 

becks22

90% coffee, 10% everything else
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 6, 2016
617
1,611
490
29
Upstate NY
IT has huge potential as everyone else as mentioned. Do your research and try to narrow it down. In this day and age, there is a huge need for keeping information secure and private even within a organization. Any company that has people's private information (DOB, SSNs, addresses, medical information, etc) are paying big money to keep their data secure. I know I am.
 

JohnFuture

Contributor
Feb 4, 2018
46
31
49
28
Europe
Thanks guys for the reply. I have to excuse my self that English isn't my first language thus some parts might not make sense. I am trying my best though.

I roughly know what kind of IT field I would like to do. I was relating my first post more to the choice between IT or just be a businessman. Let me explain, for example, if I will do loads of IT stuff such as learning a new programming language, technology etc. will it be more beneficial than studying how to be a businessman and then lead other people with all technical skills? As we know we cannot be very good in everything, sooner or later we have to choose what we want. Or perhaps I am missing something and we can be good in many things and do our best?
 

varifix

Contributor
Dec 22, 2017
14
26
23
Central America
Thanks guys for the reply. I have to excuse my self that English isn't my first language thus some parts might not make sense. I am trying my best though.

I roughly know what kind of IT field I would like to do. I was relating my first post more to the choice between IT or just be a businessman. Let me explain, for example, if I will do loads of IT stuff such as learning a new programming language, technology etc. will it be more beneficial than studying how to be a businessman and then lead other people with all technical skills? As we know we cannot be very good in everything, sooner or later we have to choose what we want. Or perhaps I am missing something and we can be good in many things and do our best?

I absolutely believe the best route here is to go technical first and then convert / pivot to the business side.

Why? Ask any programmer ever that has worked below a non-technical manager/supervisor/boss. It's seriously the worst. They have no idea about any technical limitation or obstacle, it's impossible to reason with them as they don't have a clue what's going on.

But when I've worked beneath a boss that knew at least the core concept of the technology side, I saw him rise up and eventually replace the CTO of our startup at the time.

In terms of 'entrepreneurship' -

Lots of my friends with 'golden ideas' don't understand this, but EXECUTION is so freaking key to the whole entrepreneurship thing, and as a programmer I can: think of, plan, and immediately build out my idea in ~ 1 weekend and have a MVP to show and test with the public in no time at all. Some of my friends have been juggling developers off Upwork for 6+ months trying to get their 'golden idea' built to no avail.

Sometimes coding isn't fun, but I have the power to build which is something a lot of generic business grads can't say for themselves.
 

ruzara5

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 1, 2011
178
177
156
Currently in Washington State
What can you say, what is your experience?
Depends. Always something cookin.Weather it is a small group of people in a shed out in the desert testing a chip. Or maybe in a urban garage doing a next level hack on a ipad. It moves innovation. Hardware side. Software side. Apps of course. Maybe something interesting like a venture with Apple and Motorola with a improved secure method of wireless communication next level past 5G. Or something that gets 'overlooked' by most techies because it is not in the 'mainstream'. Disrupt effect. Blockchain and software. Lot's of frontiers on the horizon. Lot's of innovation. Smiles. Can help everybody in some way and form. Just gauging that tech approach with segments of the marketmind.
 

Bitwise

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Dec 12, 2017
18
38
22
41
Chandler, AZ
I think your focus should be on creating value, generally by solving problems. Technology can solve a lot of problems. You can also fall into the trap of building something really cool and expensive that doesn't solve anyone's problem at all.

In IT there are basically two sides - people who maintain stuff and people who build stuff. The people who build stuff can get wealthy because it scales - write a program once and sell it a million times, or build a SaaS and get monthly fees from thousands of users, etc.

So, find a problem, then figure out how to solve it. If you wind up using some high tech stuff to do it - that's fine. But start with the problem, not the proposed solution.

Building software is much (much) easier than building hardware, but if you've read books you know a low barrier of entry is not a good thing. "Hardware is hard", as they say but the barrier of entry is much higher.
 

JohnFuture

Contributor
Feb 4, 2018
46
31
49
28
Europe
Let's say we have an idea that would solve some people problems, at least 20% of all population. But the idea would take at least 5 to 10 years to fully work. If you would put all time to develop IT solution, how would you work on your business side, marketing, spreading the potential, networking etc.?

Also, what is your experience with business partners?

How do I know if the potential business partner will be the right one and how do I know if the person won't take my idea or the company and disappear?
How do you trust people in business?
 

Bitwise

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Dec 12, 2017
18
38
22
41
Chandler, AZ
Let's say we have an idea that would solve some people problems, at least 20% of all population. But the idea would take at least 5 to 10 years to fully work. If you would put all time to develop IT solution, how would you work on your business side, marketing, spreading the potential, networking etc.?

Also, what is your experience with business partners?

How do I know if the potential business partner will be the right one and how do I know if the person won't take my idea or the company and disappear?
How do you trust people in business?

If the idea would help 20% of the population and be wildly popular but only after 5-10 years of development it's probably not a good idea. Value is usually built up incrementally over time. Any complex system that works evolved from a simple system that worked. If you can't determine a way to get users on board with a simpler version of whatever it is you want to build now then it's unlikely they will come in droves once you've created the grand masterpiece 5 years from now.

My advice is not to worry about someone taking your idea. Ideas are nearly worthless - execution is king. If you have an idea and no revenue nobody will want to copy it anyway. If you have a thriving business that's generating a lot of revenue you won't be able to stop people from copying it so... just don't worry about it. The key is to stay nimble, get plugged into the market so you can get feedback early, and discard ideas ruthlessly if they don't show promise or don't meet your metrics.
 

Sponsored Offers

MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Hi - I sent out some emails with the updates but I'll PM you now also, thanks. The issue is...
  • Sticky
MARKETPLACE NEW: The Best School for Going Fastlane (Now open for summer enrollment)
Read the free book, some excellent insights. I also did the website quiz and I did a visual on a...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Chris is super sharp and is aware of many facets of entrepreneurship and can help get your...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Any chance to make it available outside of US? It has been available outside of the US on...

Forum Sponsor

Learn Fastlane Business Skills & Get Profitable Within 30 Days...

Get Started Now

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom