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Tech Start Ups — Lead Your Community: Do They Have FOMO

Lead the community. Make them afraid to miss out.

You need to lead your community. Do they have FOMO — the fear of missing out?

The network is the power. The plumbing — the networks — is what creates demand. And you need to make decisions based on data: how many people joined, what the videos say about users’ experience of using your tech service.

Clearly you need to do the books, the budgets, the cashflow and the tax returns in the normal discipline. But the whole demand network needs data — to see patterns, and to know if you have the cash to spend it in the right place.

How much to spend? That is the question data answers.

Another difference in the tech business: it is innovative, and you need to be agile and listen to the users. That may mean additional features — and more cash.

For example, we had to focus on the Self Assessment market and let MTD be a by-product — until the fines and limits start biting. No pain, no gain.

Lead the community. Give them something worth missing out on.