Why does every entrepreneur need a tech partner for their startup?
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Ever wondered what is keeping your startup a step behind and not really up to the pace of modern software demands? You guessed it – the technical complications and drawbacks of your company’s product/service are the main reasons (setbacks, to be specific). Despite the fact that there are over 400 new businesses throughout the world, an alarming statistic from cbinsights discloses that over 70% of them fail due to reasons such as lack of funds, unsuitable geographic location, etc.! Not only that, but research studies have also shown that among the remaining 30% beginner startups, 90% of them will eventually come to a close. Yes, you calculated it right. Only a handful of the startup companies show progressive growth in the market and are able to withstand marketing risks and jeopardy.
Software development partnerships can offer platform integrated support for firms that employ IT solutions from diverse companies that must work in synchronization with one another, in addition to assisting companies with flawless deployment processes. It is a hazard to your overall consumer loyalty to lead the creation or deployment of a solution unless you have in-house staff with knowledge and experience in incorporating technology procedures. It can also hinder your chances of securing the client or earning their recommendation.
Perhaps there are ways out, as awful as it looks. Instead of focusing on the negative aspects of entrepreneurship, consider what must be done to avoid rejection in the market. What can entrepreneurs do to make their journey more enjoyable and less stressful? Is there anyone who can assist them in surviving, focusing on their goals, development strategies, and making progress? Let’s discuss about it.
Tech Partnership = Strategic Software Development Outsourcing – A ‘must’!
In the simplest definition, business outsourcing refers to an agreement between two parties, the entrepreneur and the outsourcing service operator, under which the business owner (entrepreneur) assigns particular activities to the outsourcing service provider for a predetermined duration of time.
Business outsourcing can help save real prices and are very effective among other marketing strategies too. Shown below, is a graphical insight on how bkacontent cuts salary costs and reduces expenses, by employing outsourcing.
IT decision-makers and business owners, in the modern generation, are increasingly turning to software outsourcing to make their organizations more lean and efficient. Firms would continue to focus on their core capabilities as a result of delegation, keeping long-term strategic initiatives on track.
Numerous larger and multi-level business companies have employed this special strategy – Outsourcing. Outsourcing provides the companies (and startups, especially) with professional experience and hands-on software development expertise from their tech partner, and hence a wider competitive edge in terms of marketing and business.
Larger companies (the ‘Corporate giants’) have sufficient working hands and other essential resources to favor their tasks, but they frequently select IT outsourcing as the most efficient approach to boost profits, increase work efficiency, and improve product quality. A startup, on the flip side, doesn’t possess enough resources and expense funds to grow; they generally tend to avoid outsourcing. Nevertheless, startups should rightfully delve into outsourcing, just like other companies do!
Companies, platforms, and services like Alibaba, GitHub, Ola, Upwork, and SeatGeek have grown tremendously over time with a result-oriented optimistic approach and earned a decent competitive edge in the market by employing software development outsourcing as their primary method of marketing.
Software Development outsourcing is faster and more cost-effective than in-house development since it eliminates the need to hire office space, set up a whole development infrastructure, and assemble a skilled team of experts. What are all the additional motivations for startups and established enterprises to outsource software development?
There’s really no doubt that software engineering outsourcing can help you make up for the shortage of internal resources by allowing you to focus on your main responsibilities. In fact, all you need is a product concept to get started, and you’ll have access to a full suite of consulting, analytics, marketing, design, and development services right away.
You can either proceed to product development or start by constructing a minimum viable product (MVP) to verify your idea and make initial adjustments as needed, relying on your product type, project specifications, and estimated budget. In this situation, the software outsourcing company’s marketing and design professionals will assist you in creating the best MVP and then interpreting the analytical data it generates. These customized software development companies entail their core expertise and generate the best viable software product for your project/company.
Outsourcing businesses may handle anything from project planning to cost assessment to wireframing to UI/UX designing to software development. They do everything, all the time. As a result, they can create the most effective process plan for each project.
Problems faced by startups for not outsourcing with software development companies
There are numerous advantages to starting your own business. It’s incredibly fulfilling to do something you enjoy while also attracting clients to buy the product or service you’ve created. Another exciting aspect of starting a business is giving jobs to others.
Owning a business, on the other hand, is not easy. Working for yourself without the security of a regular paycheck can be isolating, stressful, and difficult. You’ll be far more prepared for any problems and give your startup company the best chance of success if you understand the difficulties you might face and how to cope with them.
Listed below are a few major problems your startup company is vulnerable to and might fail if not properly outsourced with the right software development technology partner.
Lack of proper planning
It’s easy to get caught up in the enthusiasm of a fresh software idea, launch and deploy the project without giving it much thought. However, a lack of planning might result in your company incurring losses or being unprepared for important aspects like marketing or working with suppliers. Entrepreneurs who plan ahead and set goals for themselves are more likely to succeed.
You’ve established yourself as an expert in your field, depending on your abilities and experiences to drive you and your firm to remarkable success. Outsourcing software development companies can aid your developers in making informed technological decisions for your business objectives because they are software professionals. They know how to attain your software goals in a variety of ways, how to track development progress, and how to adapt rapidly. Your software development objective is the primary goal of the outsource software development partner, while your company managers concentrate on the mission-critical responsibilities for your organization.
Inadequate and insufficient marketing strategies
It is not difficult to get carried away in the current marketing trends and probably wind up spending a lot of money on marketing strategies that cost you even more than the revenue they generate. A startup originates from the ground up. You need brand awareness and a robust marketing presence that sets you apart from the competition if you want to stand out in a crowded market.
In order to attract new customers, you’ll need a good marketing approach. As a result, it is an important investment that should not be overlooked. Many startups, however, fail as a result of a poor marketing strategy.
Allow your business demands to define the speed of your software development instead of your in-house staff. Using software development outsourcing companies who are precise on certain outcomes can reduce time-to-market and give you a competitive advantage. Your in-house software development team will be responsible for your essential software products and present customers, whereas the software development outsource personnel will be responsible for the management and execution of your technological product timetable, with a well-defined prospect, favoring a robust market presence.
The disparity in experience and skills
It’s unlikely that you’ll know just about everything there is to know about running a firm as a first-time amateur entrepreneur. A lack of knowledge and domain expertise might result in inevitable errors that cost your company money. You’ll also have to deal with a lot of demands on your time and energy when it comes to starting a new business.
Inadequate workforce and poor work quality
Many companies fall victim to the misconception that they can manage everything on their own in order to keep costs down. The additional burden, though, will definitely have an impact as the company grows and thrives in the market.
Whatever you believed would save you money will indeed cost you a lot since you would lose customers due to poor quality of work. You can’t become a genius of all professions. As a result, assign tasks to capable workers or technology partner companies who are experts in their respective fields. If you decide to hire such professionals, be sure to spell out the job responsibilities and qualities you’re looking for. Unsuitable candidates will be attracted to vague job postings, wasting your time and money.
You may also outsource it to software development companies as technological partners that specialize in assisting startups in scaling their businesses to new heights. This will result in significant time savings for entrepreneurs, allowing them to focus on their primary business objectives. Partnering with an IT services firm can help you get up to speed fast and efficiently instead of going through the recruitment procedures and assuring optimal employment. However, make sure you know how to collaborate effectively with your outsourcing partner.
Data breaches and information leaks
Digital improvements have not only aided scalability for firms but have also made it a lot easier for cybercriminals to intrude. Data breaches have occurred on even the most well-known digital networks, such as Facebook.
Many other businesses are likewise vulnerable to data thefts and malware. Hackers can leverage the power of any weakness in a startup’s web architecture thanks to digital indiscretions.
Outsourced security professionals from your software development partner company have seen and experienced a lot more security flaws than your in-house security team because they have more diversified and certified experience.
Long story short, the most significant advantage is that they bring greater experience to the platform. As a result, they’re more likely to be cautious and responsive to any kind of security threats to your company in the future.
Many new enterprises are confronted with a scarcity of technological resources. As a result, it’s critical that the company’s efforts remain focused and deliberate. There are a lot of possibilities for a firm at the start, and if the entrepreneurs don’t stay focused, they’ll end up going around in circles without the right technology to move forward.
Finding progressive technology-providing external service companies is critical for developing your company’s software project and establishing a competitive advantage in the market. You can develop cutting-edge solutions by outsourcing the work to another software development firm with a proven track record of expertise and excellence.
Identifying the perfect Tech partner
Finding a tech partner for your business startup to enable IT outsourcing presents a variety of obstacles. Numerous software development companies and organizations would like to be your startup’s tech partners, but if you don’t have technical experience, it might be tough to adequately screen them. You may possibly end up with an IT company with inadequate skills and a lack of staff and infrastructure ultimately affecting your project development.
Whenever you sign a software development company as your tech partner, you should check to see if anyone in or around your network has any experience in the domain you’re interested in. Invest in competent advice. The potential risks are likely to be greater than you believe.
Engaging with someone you know and even offering them a few percentage points of share in exchange for becoming a consultant can make all the difference. This also offers you access to a far larger network of tech references, which you may use to make a hiring decision. Case studies from various skilled software companies have shown the proficiency of technical knowledge and experience they have, and how they can prove themselves to be an optimal tech partner for your startup company!
Advantages of a software development technical partnership
While many software solutions have been developed to provide a compact answer for challenges that are related in many businesses – such as ERP, accounting software, social networking scheduling tools, and so on – there are times when you need to tackle a problem that is specific to your startup company.
When an all-around multipurpose technology fails to meet your needs, you are left with two viable choices: modify your internal operations to accommodate the software available, or acquire a custom software development service that matches your business processes and evolves to the way you and your team members conduct business.
If you, as the entrepreneur, are convinced that your current business processes are effective and enable your software developers to realize their full potential, the latter choice will help you keep centered on your company’s goal, brand identity, productivity, and efficiency, and ultimately improve sales and profits.
When you solve that specific issue that your team members or clients are having, the expense and time invested in customized software development would actually pay off and help you get that market boost.
Reduce project development time to market while keeping prices low.
Partnerships make economic sense because of their speed to market and return on investment. A former idea can be doomed if it misses the window of opportunity to put a new development solution to the market or fails to generate a functional demonstration within a defined deadline. When compared to having a strategic alliance, the time and expense investment required to hire and educate individuals to be adept in a new technology typically does not make financial sense. Business and data technology is evolving at an ever-faster pace.
The development team is frequently required to generate software in very short time frames and using advanced methodologies.
A dependable software development partner with a proven track record of experience and expertise can assist the organization in scaling and developing cutting-edge software employing advanced development services, relieving the in-house team of the burden of having to solve every problem and/or master every technology.
Minimize potential risk factors.
Your startup company faces a significant risk if the technology fails.
A technology partner is a professional you can rely on. According to Security Magazine, “an estimated 2 million cyber attacks and intrusions resulted in more than $45 billion in losses globally in 2018, as local authorities struggled to deal with ransomware and other malicious occurrences.”
Startup companies must also ascertain that they mitigate a variety of risks. In the wake of data privacy violations and the resulting customer fear, entrepreneurs are more concerned about security, legal, and licensing rules. Data protection legislation and application security are two areas where startups need to improve their knowledge. They must also be alert in order to adapt quickly to changing regulatory and operational needs. An outsourced software development partner provides you with the benefit of their experience, allowing you to manage such issues with ease and confidence.
Assist in making the best technological decisions.
To thrive in the current marketplace, you’ll require specific and modern technological knowledge. You may have a brilliant suggestion in mind, but without the correct technology, you may find it difficult to put it into action.
A software development company as your startup’s tech partner can serve as a technological visionary for you. They can aid you in not only making the greatest technical choices for your project but also in working on and identifying methods to make it more robust and feature-rich. A technology outsourcing software development partner will have a pool of professionals, and having access to this significant resource pool can be quite beneficial to your firm. With exposure to IT specialists, startups can be confident that they are selecting the best technology for their needs rather than following the latest trend.
Extend your technological insights.
Not every business can afford to hire in-house engineers, programmers, and technical experts. Your company’s existing technical expertise should be supplemented and broadened by the proper technology partner.
Furthermore, if you do have an internal IT workforce, a software development partner should relish the opportunity to collaborate with and benefit from them.
Partnering with an outside team of professionals is a good way to blend either party’s capabilities. A collaboration can help refine and improve development processes, establish and reinforce industry standards and raise coding and quality standards.
Improve your pace and agility.
Your software development partner can take care of every area of the software development project.
Recruiting, supervising, and/or training developers are all tasks that can be delegated to the partner. Professional software development firms will also have qualification certificates, procedures, encryption methods, and communications strategies to get started on any project quickly. And they’ll be working with their own infrastructure, not the company’s fixed expenses or staff problems.
In addition, the organization may decide to reduce the size of the team, switch responsibilities and positions, or demand a certain asset at any time. When this occurs, the technology partner will automatically reassign the unallocated staff to a new project, allowing the company to scale and descale as needed.
Dissemination of knowledge based on best practices from initiatives of similar size and scope.
Make use of your tech partner’s core knowledge and expertise in the software field to help you avoid dangers you might not be aware of. These unanticipated complications can be costly in terms of both time and money. You, as the lead entrepreneur of your startup, should be well-versed in friendly terms of communication with your tech partner. It is your job to make them understand the project your company has been dealing with, its future goals, and objectives in the market.
One of the main motivations as to why you need software development outsourcing for your startup company is that it offers you all of the required expertise that your company needs, which will greatly assist your startup operations. When you create highly specialized software, you won’t need to waste time and effort only to develop the skills, expertise, information, and industry insights that are all critical for a company’s success.
The software development business will efficiently satisfy all of your demands while also offering you extensive market knowledge, opportunities, and future difficulties. They will also assist you in delivering products that meet or surpass your initial expectations.
Internal and external IT resources being used to maximize technical skills, expertise, and experience.
Out-of-the-box thinking is usually required while developing amazing software and putting it into action. Typical software development partnerships have diverse teams with complementary skills.
Their inclusion in the team will almost certainly result in positive feedback, fresh ideas, and unanticipated enhancements to the source code.
Increasing quality standards and developing new opportunities.
Outsourcing not only offers a clear cost-benefit but also allows entrepreneurs the potential to expand into other areas. A technology outsourcing partner who has worked in the software development industry can assist a company in identifying new need voids and growth prospects.
They can assist the startup in identifying new ways to adapt the product to a new market. For example, the firm might be interested in creating a mobile application for a particular population, but introducing a gradual web application could help them gain market acceptability.
A technology partner can provide you with an early working prototype to assist you in determining whether or not your actual outcome is ready to be launched in the market. They can assist you in figuring out if the product meets the needs for which it was created, and if not, where the shortcomings are. Your technology partner can brainstorm and modify on your behalf and identify methods to improve and even future-proof your product based on their knowledge in software product development.
The above insight clearly demonstrates how Integrated Financial Advisors (or IFAs) consider Outsourced solutions and services as their prime means of investing into the market and gaining advantageous profit out of it.
Essential traits your software development partner must possess
The perfect technology (‘tech’) partner is to ensure that even the less experienced entrepreneurs and businessmen can confidently and promptly build companies they can’t even imagine.
You must be wondering about how your startup could achieve suitable outsourcing and gain an advantage in the industry. Well, the optimal software development partner can really be a guide to your startup in achieving the most ambitious corporate objectives.
Increased efficiency, greater productivity, access to superior expertise, and faster time-to-market are some of the primary factors driving the software outsourcing market. Despite this, many firms continue to be hesitant to outsource their software development and product engineering projects, citing concerns about management control, cultural differences, quality, and external dangers.
As an IT executive, you’re deeply engaged in the continual process of analyzing these systems and replacement choices. This necessitates a thorough examination of a variety of elements in order to identify which plan of action will have the greatest impact on your team’s productivity and the prosperity of your company.
Also, it is advisable not to waste your precious time in looking for a mixed crew of freelancers who may or may not agree with your overall project vision. When working with freelancers, there are a variety of risks to consider. One of the most typical risks is that they would abandon you when they have a better job chance. And you shouldn’t take that chance, especially when you have the option of hiring a well-known and established team.
The right technical partner should have some required traits – nonetheless, you should be demanding for it. As an entrepreneur and the lead of your startup, you are responsible for recruiting the most capable tech partner for your business. Quite often the best course of action for the company is to upgrade to a new version of a software solution or to replace it entirely with a competing product. Other times, you do a thorough assessment of suppliers and solutions only to discover that there is no off-the-shelf option that gives the exact combination of capability, usability, and pricing you require.
In these situations, a custom software solution is typically the only realistic alternative. Finding the ideal software development partner is a crucial first step once you’ve determined that this is the best path forward.
Customized Software Development
You can begin by evaluating this crucial aspect of any software development company: whether or not they deliver customized development. Customized development entails researching into the smallest elements of a product’s requirements and producing software that meets the client’s specific needs and objectives. You should avoid working with companies that provide clients with pre-developed theme templates and do not provide customized development. You may combine your new software with current software to improve business processes by using custom software development.
Not only that, custom software reduces the risk of integration issues and fits seamlessly into any company’s software environment.
Knowledgeable and Efficient
Your tech partner should have the proper knowledge and skills about the startup company they would be working with and should assist you all the way through the workflow and suggest efficient procedures and measures to help it grow and expand more.
They should be ready to explain why a certain software advancement could be beneficial for your project, understand the uniqueness of every project and the need for personalized software management procedures for each one of them.
As discussed earlier, your tech partner should be innovative and curious about the real-world marketing trends and functionalities and how various multinational software companies are prospering towards a successful career with each hour passing by.
Transparent workflow and clear objectives
While it’s critical for your software partner to be exceptionally knowledgeable about today’s most advanced technology, they also need to keep an eye on the future. Any solution you create should be as future-proof as possible. Every effort should be taken while designing and implementing the system to ensure its scalability as your needs change and software technology advances. After all, investing in a highly customized solution that will be outdated in a year or two is a waste of money.
As the CEO of your startup, it is your job to make sure that your tech partner has the right mindset and skills to do the job and not a clumsy and inconsistent thought procedure.
They should have the knowledge of what your startup company aims at – what its goals and objectives are. Consistently explore beyond the completion of the project when selecting the ideal tech partner for your firm, since you’ll be investing a significant amount of time, money, and effort each time you seek for a partner. As a result, make sure you choose a partner who can assist you once the software is delivered.
Consistent monitoring and support
You should go over all of the security terms and make sure your software development company will give you the product’s source code (raw data). You can’t trust your project’s most important and sensitive information to a company that can’t ensure the protection of your trade secrets.
In the modern era of fast-paced and rapid software industrialization, business entrepreneurships run 24/7. You’ll rarely know when you’ll receive that flash of inspiration or, on the other hand, when a hostile intruder would try to access your data. Hackers with intentions otherwise, generally target new businesses and startups, due to their low-end security environment. So, act fast, act now!
With constant and consistent monitoring and remote technical help, a software technology partner can be there for you whenever you need them. With their proficiency and expertise in the software domain, your tech partner can secure your project with well-bound and highly maintained sophisticated algorithms.
Sophisticated yet easy-to-use UI/UX development
The feedback of your end customer is perhaps the most significant. You must understand that if the software company is capable of meeting your end customers’ needs and improving the experience at every point of contact, it will eventually build a brand reputation and loyalty, and so UI and UX should be regarded carefully. Only a few software development firms have the necessary knowledge and resources to deliver exceptional user experience development.
Working for the right price
Money is what makes the world go around and, and no matter how well a potential software partner fits your needs, if you’re unable to afford them, you can’t afford them. Just be aware of newcomers in the market; they may offer lower rates, but they may, and most probably will, lack the necessary experience or track record that your software project demands. You’ll have to achieve a balance between high quality and low cost and look for a software development partner who works for the right price. It’s vital to keep in mind that the long-term economic benefits of a good solution can rise virtually tenfold, so investing now pays out later.
Don’t let the price be the only factor to consider. What appears to be a cheaper option at first glance can end up costing you double or triple as much. Since you have just built the startup, it is obvious for you to be a little concerned about the prices, nonetheless. You would rather have a tech partner who will help you return your assets, not just save them, in the long run.
Honesty in work
Honesty could seem self-evident, but when it comes to the complexities that arise in software development projects, it’s very easy to be dishonest by omitting facts. It is just not enough to have good intentions.
Consider this example. Imagine your custom software development team not comprehending what you meant when you mentioned that you needed your software to be “A.” However, they already have built in their understanding of “A” because it is late in the project timeframe. You’ll ultimately wind up with a solution that doesn’t meet your true objectives if the developers never express their concerns and you really wanted “B.”
Concerns and misunderstandings arise frequently in software development initiatives. You will rather be far better positioned to resolve challenges if the custom software development firm easily recognizes uncertainty (and mistakes) quickly and often through honest discussions.
Dedication to the company
As experts in their field of research, your tech partners should be committed to their work area and understand what it takes for every startup to establish itself as a successful company in the future. Remember, Rome wasn’t built in a day. Every startup has to begin from scratch – and your tech partner should be with you and guide you consistently throughout the journey. When you’re operating a company, the most important things to be considered are software development and revenue earned.
You’re not simply evaluating how to meet today’s business expectations; you’re also considering how to broaden your startup to take over your market. You need to keep in mind that your business should be perfectly scalable in the software industry.
Your startup’s top tech partners will comprehend this, and they’ll have the foundation in place to make it succeed.
Up-to-the-mark proficiency and experience
When it comes to turning your ideas into solid solutions, domain expertise is essential.
It’s critical to look over the job experience and software knowledge of the software firm you’ve selected before shaking hands.
Expert individuals can supply you with a plethora of add-on solutions and greatly increase the value of your software project if they have knowledge in a specific domain. This will increase the value of your company. On their website profile, you can look into the company’s experience in the field. You may also quickly view the company’s profile and see how many projects it has completed, and what sort of solutions have they come up with.
Check to see whether they’ve worked on any projects involving your domain. Furthermore, the software development firm should have extensive expertise in collaborating with other reputable organizations and remote teams using a variety of communication networks and platforms.
There are many individuals who can design and develop, but it takes a lot more than that to deliver a successful software project. In fact, regardless of the industry, building software for business applications is a huge task. The greatest software development companies have an end-to-end approach to software development, covering everything from requirement specification to coding, debugging, delivery, and beyond.
Continuous communication between you and your partner, as well as experienced and proactive project management, are essential during these stages to ensure the solution is developed to your specifications and meets all project milestones.
“It is undeniably true that helping others flourish can assist you to succeed faster and more effectively.” – Napolean Hill
Highly qualified experts have the experience to comprehend their clients’ business processes, recognize their difficulty areas, and respond promptly and effectively to them. When a project is completed successfully, it is not only a wonderful reward for everyone involved, but it also serves as excellent marketing for the team that worked on it.
The greatest software businesses can give your project a lot of flexibility. They have a diversified, mostly senior team of professionals with experience in a variety of fields. They’ve spent time in the pits and dealt with just about every difficult software development issue there is. While adaptability is vital, the more understanding of your specific domain they have and the more experience they have operating with it, the better.
Trusted software development technology partners adopt an integrated approach that entails accountability. They never shift the blame and are always eager to accept responsibility. They attempt to comprehend the situation from the client’s point of view in order to provide the best possible solution. As a result, choose a partner who will give the finest results for your company.
Are you interested in learning more about how a technology partnership can boost your company’s productivity?
If you’re searching for an ideal tech partner for your startup, do check out Metricoid Technology Solutions, one of the major firms that can be relied on to supply a wide range of services like building SaaS (software-as-a-service) applications and comprehensive digital solutions across a variety of industries and applications. Everything is taken care of in the development phase offered by Metricoid at the most inexpensive price, from design and implementation of applications to testing, debugging, timely maintenance, and methodical integration with other apps.
Mr. Amarjit Kumar, the firm’s CEO, asserts that they possess a staff of highly qualified and dedicated specialists in the field. The team has more than a decade of experience developing concepts, designing prototypes, and offering full-cycle technological management services.