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5 tips to building a successful tech company

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  • Description

    Jiren Parikh tells us how to build a competitive and growing tech business

  • Duration 2:04
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Just go through the five tips that you -- suggested -- -- successful business model right I wouldn't call this the Bible but yeah hunting as CEO prior.

I kind of an eye on the simple guy like to boil things down to like half a dozen things have -- first -- focus.

So many companies that are raised lots venture capital.

But they lose their way -- enough focus look if you have focused you gonna lose and if the focus that you have any specific product doesn't work.

If -- if he can't find it's working.

Listen you got to shut it down you gotta move to different market segment -- to refine your product and that's the second lesson.

Test and refine got to the third one innovate constantly.

I don't need to constantly I'm not that I think costly first year 2009 when I took the company we restructured our first product was of apple -- division.

It major feature found a basically what they called dumb phone today.

Act like a Smart -- for managing photos.

And it was a huge hit because a lot of people had these inexpensive feature phones we allowed to -- Twitter and FaceBook photos that they could normally not do.

The following year we launched.

Expanded product called.

Snap mobile.

Ended an advanced features for messaging and sharing photos and videos.

By that second year 75% of our revenue for split from the new product the third year.

We launched our mobile security product that garnered more than 30% of our revenue.

So weak consummated we have -- process every other month every employee in the company has to submit an idea.

And we go through just like any of the process -- if you have.

That type of process in place I think you can make innovation happened and ultimately.

The last lesson I tell you about last couple is one higher right.

We made the mistake of hiring more people assuming listen if you pay half the price and he can hire three or four people vs one or two.

You -- -- to see results and more people doesn't work that way.

Hired the best that you can afford and I love the fifth one.

Always worry about cash.

-- that I took over to help restructure had cash but financial crisis came nobody -- bad things happen always worry about cash.

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