In the world of start-ups, the theory of ‘survival of the fittest‘ stands true; “Perception that things will automatically fall in place once you get funded maybe not right. You shall have to face tougher challenges such as scaling, customer retention, and expectation management which are even tougher and demand resources other than only money.”
The emerging market of tech startups brought software as a vital ingredient to stay valuable and competitive to make it to the top. Founders started looking for technology experts as co-founders and many started hiring in-house or offshore software developers to innovate and offer software products.
But when do you know that it is time to find a co-founder or hire software developers for your start-up? Let us check out the below signs which indicate that your startup needs a co-founder or great software development team.
Are you a non-techy person?
If you do not know the ABC of software development, having to deal with the programming can be extremely stressful. You might think of hiring an in-house software development team but it will only increase your financial burden.
Are the costs getting out of hand?
One of the reasons why a startup can fail is because of the huge amount of money spent on setting up an in-house IT infrastructure and its maintenance. These expenses may involve money spent on equipment, systems maintenance and salaries which may lead to a lack of profitability.
Is your startup scaling too fast?
The problem arises when your startup has reached to a point where you cannot handle it by yourself; your business soon starts getting out of hand and you will need help and support in order to keep going.
“When you give people cognitive load, they lose the will and concentration,” says Bob Sutton, organizational behavior expert at Stanford’s School of Engineering.
“The challenge is that your company is bound to add cognitive load and gain complexity as you grow. The reality is you do need more roles, more hierarchy, more process. It’s unavoidable. It’s also a lesson Larry Page learned the hard way when Google entered hyper-growth in the early 2000s,” he said.
Are you wearing too many hats?
Startups generally have their founders working on too many tasks to make it work. The amount of work starts getting piled up and you start missing out on tasks that are a high priority. Founders feel burdened and their work becomes unsatisfactory. Are those symptoms of poor quality? Or inefficiency?
Wearing too many hats can lead to a time crunch and can land start-ups in a turmoil. You need to learn how to manage your time effectively so that you can meet your goals.
Are customer experience and satisfaction affecting?
For a startup running at, or over capacity, customer experience and satisfaction starts taking a sharp decline. Emails can slip through cracks and calls may go unanswered.
According to a survey, 55% of the customers are willing to pay more for a better service given by companies. So, it is crucial that startups increase their focus on customer satisfaction and keep up with the customer’s demands and to adjust in the changing market.
With the onset of new digital capabilities, having a devoted and highly experienced person that works to their full potential is all you need to meet your goals. With boundaries blurring between nations all around the world, many start-ups are opting for hiring an offshore software development team. But before you delve into the world of offshoring, you should really look into how to explore the market for the perfect offshore development vendor.