Technology Based Business Versus Non-Technology Based Business

The technology-based business is an attractive business that has opportunity of a great value proposition, technically feasible products, strong intellectual property, a sustainable competitive advantage, a large potential market, and scalable business model (Prof. Tom Byers, 2000). The technology-based business has the uniqueness than other business. It has short life cycle, so it changes very fast and needs to innovation shortly. People that do in this are should be very creative and has feature thinking. The key of technology-based business is productive and purposeful. Then, the products are produced has the target market and has the commercial value. So, the first step to development of technology is doing the research of what the people needs in their life. After it has defined, the technology will be developed, produced and the company sells it to the consumer. Some experts said that do not put all the features into the first release of the product because it abandon the product to develop and innovate. For example the IPod touch product, Apple made the stage of generation of it. From the first generation to the second that has speaker a Wi-Fi in it until the fourth that has camera included. So, just like has been mentioned above the technology change very fast.
What should be aware for the technology entrepreneur is the trend in the society. This is in term to keep the product technology updated. For example the Blackberry smartphone, it provides the need communication of people. The need is to keep online every time and data transfer. That is why the Blackberry becomes a sensational.
There is uniqueness from the technology-based business also. Beside the technology-based business should watch the trend that happens in the society, we could create the trend in the society itself. I will take an example from the I Pad; Steve Jobs thinks that he could make a great penetration with develop a product that the function is more than a smartphone