Who is a Techpreneur? A technopreneur or techpreneur is an entrepreneur who gets a technology idea and finds an opportunity to make it a commercial reality. Alternatively, a technopreneur can also be a techie idea-owner who ventures to make his idea a commercial reality.
Yes, it may seem that a techpreneur and entrepreneur are indistinguishable since many of their core skills are identical but at the end of the day, you can always use these features to differentiate the two.
The difference between a techpreneurs and an entrepreneur
- Techpreneurs are always developers first. They will always try to solve their problems with technology.
- Techpreneurs have a greater potential for success because they can create scalable tech products that are far less costly compared to physical products that involve purchasing inventory, and investing in physical space as is the case for entrepreneurs.
Simply put, the significant difference between techpreneurship and the conventional entrepreneurship is the use of high-technology. Techpreneurs use technology to solve problems in various industries like health, transportation, and agriculture.
Needless to say, a good techpreneur ought to have a winning combination of business and technical skills to make it big. Here is a look at the essential techpreneur skills that every rising techie ought to possess to ensure that they survive in the industry.
5 Traits that Make a Great Techpreneur
- Strong communication skills that Close Deals
Techpreneurs have to communicate with diverse people about their business ideas and products. For example, Elon Musk, one of the greatest techpreneurs of our times, has built multi-billion dollar fortune companies with the help of government subsidies. Meaning he had to pitch to the government why they should help him fly humans to space. Similarly, every aspiring techpreneur should have it at the back of their head that communication plays a significant role in determining their success. You need to understand where you are going, how to get there, who’s going to help you get there and how to convince them to help you get there.
- Product Management Knowledge
What do Mark Zuckerberg (Facebook), Elon Musk (SpaceX) and Jack Dorsey (Twitter) have in common? Other than being the CEO’s of the leading tech companies in the world, they are strong product managers. As a techpreneur, you need to have a deep technical understanding of your product and understand the details without getting lost in the details.
- Deep Technical Understanding
As a techpreneur, it is important to be tech-oriented. We’re not saying that you have to be a coding expert, but rather, to invest in your technical skills and understand the dynamics of your market. Otherwise, you will always find yourself relying on the CTO or your trusted advisor; much like being locked in a box.
- Take Big Risks
While every technopreneur’s story is unique, there is a common factor that unites them- they take risks. As Uber CEO Travis Kalanick- stepped down from Trump’s presidential panel to avoid losing customers, Elon Musk has continued his regular meetings with Trump. Just like Trump, Musk understands that big rewards come with significant risks. After all, Musk has always done what first seemed impossible. As a techpreneur, having the gambler mindset will serve you well.
No great achievement in life is possible without persistence. A great techpreneur will stay positive because the odds will always be against taking the first leap of faith. You only need to look at Steve Job’s career path to understand that persistence in techpreneurship means sticking to the mission regardless of long or hard the road seems.
Clearly, at the end of the day, all techpreneurs are entrepreneurs, but not all entrepreneurs are techpreneurs. Do you have what it takes to be a techpreneur?