10 Tips To Supercharge Your Tech Startup Journey

Starting a tech business is exciting – but it’s also incredibly challenging.  

It’s not just about having a great idea; it’s about turning that idea into a product or service people actually want, and building a company that can grow, and thrive in a competitive market.  

But for every success story, there are countless startups that didn’t make it, often because they fall into traps that could have been easily avoided.  

In an increasingly competitive Middle East market, where a global downturn left its mark last year, a MAGNiTT report showed that startups still raised $1.52 billion in funding. 

A 14% rise in the number of investors and 10% increase in the deals volume were signs of resilience and growing investor confidence in the region's potential, and 2025 could be a very big year for tech founders who start by getting the basics right. 

As an entrepreneur and investor who’s built and scaled several tech startups, I’ve learned that success isn’t just about what you do right, it’s also about steering clear of common pitfalls.  

Unfortunately, many founders get so caught up in their vision that they make basic errors, and skip essential steps, like validating their idea or understanding their market. Others burn through budgets too quickly, betting everything on short-term wins rather than sustainable growth. 

The reality is that there’s no one-size-fits-all blueprint for building a successful tech business. However, there are some tried-and-true principles that can help you stay on track.  

It starts with focusing on solving real problems and understanding the needs of your customers.  It’s about building a team you can rely on and creating a business model that can grow without breaking.  

Crucially also, it’s about managing your money wisely, because even the best idea won’t go far if you run out of cash, which is what brings so many promising startups to a premature end. 

Equally important is steering clear of some of the other classic misjudgments that often derail promising new businesses. For example, assuming your product will sell itself is a big mistake.  

No matter how innovative it is, you need a clear strategy to reach your audience. Similarly, waiting too long to launch can be just as harmful. Early feedback is a priceless tool for refining your offering and ensuring it truly meets customer needs.  

Plus, don’t try to do everything yourself. Knowing when to ask for help, or bring in the right partners, can make all the difference. 

The most successful founders, many of them now household names, all made many mistakes on their way to success. The key is to learn from those experiences, avoid repeating them, and use those lessons to refine your strategy, strengthen your business, and stay focused on your long-term vision. 

Whether you’re just getting started or looking to take your business to the next level, here are a few tips to help you build something that lasts: 

• Solve real problems Make sure your product fixes something people genuinely care about. If it doesn’t solve a real problem, it won’t stick. 

• Test before you invest Start small with a basic version of your idea (a minimum viable product) to see if people actually want it before spending too much time or money. 

• Find the right people Build a team of smart, passionate people who bring different skills to the table. Success is a group effort. 

• Plan for growth From the start, think about how your business can grow without breaking. Set up systems and processes that can handle more customers later. 

• Watch your budget Be smart with your money. Spend on what moves the needle for your business, and avoid unnecessary expenses. 

• Listen to customers Your customers are your best guide. Ask for their feedback, learn from it, and keep improving your product. 

• Team up with the right partners Work with companies or people who can help you grow faster or reach places you couldn’t on your own. 

• Be ready to change course Things don’t always go as planned. Stay open to new ideas, and be willing to pivot when you need to. 

• Tell your story People connect with stories, not just products. Share why you started, what you stand for, and how you can make their lives better. 

• Think global, start local Dream of taking your product worldwide, but make sure you nail it in your first market. Every place is different, so adapt as you expand. 

Starting a tech business isn’t easy, but sticking to the basics can take you a long way. Focus on knowing your market, managing your money carefully, and staying open to change. These are the building blocks of a business that lasts. 

Mistakes are part of the process, but they’re also opportunities to learn and improve. Keep your eyes on creating value for your customers, and staying true to your goals. With the right focus and a willingness to adapt, you can build something strong and successful. 

About the Author 

Entrepreneur and investor Abdumalik Mirakhmedov is the founder and executive president of Genesis Digital Assets, one of the world’s largest and most experienced Bitcoin mining companies. Plus, as the co-founder and director of Scalo Technologies, the Dubai-based tech venture company, he also helps accelerate the growth of startups. 

Pictured on image: Abdumalik Mirakhmedov. Image via Abdumalik Mirakhmedov.