Importance of Outsourcing & its Beneficial for Startups
24 MAY 2021
The limelight, recently, is all on the emerging dynamic Startups due to the curiosity to know what they’re bringing and what problems of the world they’re promising to solve. With the number of Startups increasing, Tech Startups are making up the majority; you know tech is the new black in business. But the truth is Only 10% make it to the ladder of success out of 100%, and the rest 90% may have an invaluable idea and can solve the biggest problems of the world. The question comes down to why some Startups succeed?
One of the secrets for a Startup to succeed is the team. Either success or failure comes down to the qualities, skills, and capabilities of the team and the decisions of the Entrepreneur. With millions of Startups emerging every year across the globe it is not a good idea for an entrepreneur to overlook the competition who is aspiring to be the next Steve Jobs or Gates.
Why outsourcing is important?
For a startup, the early phases of a business are difficult. The uncertainty of a lack of people and cash, the strain of corporate development, and so on has engulfed the entrepreneur. To stay ahead and survive in the face of severe competition among start-ups, a smart entrepreneur should focus on fundamental company processes.
Now, how does an entrepreneur concentrate on the core business by feeling relieved of a few important business processes and requirements? The answer is ‘Outsourcing’! Yes, it is important for a start-up to outsource. For an entrepreneur with a tremendous vision to achieve victory, outsourcing is the knight.
Outsourcing IT will be extremely useful to your Startup. If you believe you have unlimited time to expand your business, think again. Your clients will not wait, and neither will your competitors. Outsourcing will provide you an advantage over your competitors. It is that strategy of outsourcing with which your business can:
- Reduce risk
- Cut costs of hiring in-house inexperienced employees
- Help you save months even years to ramp up your business
- Hit the market faster
- Boost innovation and efficiency
- Seamlessly build your new product
You can hit the market faster than your competitors by outsourcing software development, Minimum Viable Product (MVP) development, new product development, IT needs & requirements. It is an excellent idea to outsource experienced talent from leading organizations, like Star Knowledge, having experience in growing start-ups. They can not only work according to your business requirements but can further consult & suggest how you can escalate your new business. These companies will prove invaluable in adding value to your start-up.
Reasons Startups should Outsource Software Development and how it Benefits them:
- Save cost on development
One of the key causes for outsourcing in startups is to reduce the cost and time associated with software development. Because technology is so vital to the success of start-ups, software development frequently takes precedence over other business requirements when these companies initially start out.
- Faster Time to Market
In a startup, time is of the essence. Outsourcing software development can help you get your product to market faster. In fact, it can be up to 60% faster than if you were to develop the software in-house. Furthermore, it can be 30-40% cheaper.
- Increased Focus to Market Research, Marketing, and Target Audience
By outsourcing product development, you free up more time and resources for other important tasks like doing market research, coming up with marketing plans, and spending more time reaching new customers. When you outsource product development, you can save time and money by not having to worry about the development cycle, managing new hires on your internal team, and other chores.
- Flexible Outsourcing Team
Speaking from over a decade’s experience, outsourcing/hiring software developers or a team of product developers from an outsourcing company will prove immensely beneficial for your startup. When you partner with a bespoke software development firm, you get access to highly skilled talent that works flexibly for you around different time zones. The teams work rigorously on several projects together with access to advanced tools and resources to help you build the best version of the product possible.
Star Knowledge is the Best Choice to Outsource. Here’s why:
Product Development for a Tech Startup is the most challenging job especially when it is solving modern problems of modern customers. Product development according to your idea, innovation and creativity demands highly versatile strategies and technologies. Building your Tech product and fulfilling your IT needs with a partner like Star Knowledge is the best choice.
Star Knowledge is an inventive and ingenious, outsourcing company. We have profound knowledge and remarkable achievements in devising MVP, New Product Development, and Dedicated Development Teams for our clients across the globe. We have worked with several amazing startups and enjoyed ramping up their businesses.
As an entrepreneur, you understand how important it is to reduce risks, cut costs, and save time and we can support you in your business processes. Learn more about Star Knowledge here.