TO PARTNER OR NOT TO PARTNER
That is a Startup’s Conundrum
You have an incredible business idea that may potentially transform the way people communicate. What do you do? Well, if you’re passionate and determined to bring your vision to life, you form a startup. The problem is that while most individuals, teams and organizations have excellent ideas, they lack the capacity to turn their concept into reality.
As a budding startup or small business, full of opportunity and ideas, you’re racing against thousands of other innovators to deliver your product or service to market. In order to move to the front of the pack, your venture needs to offer value from the start regardless of the challenges associated with finite resources. How do you find the perfect balance between quality, and efficiency that will maximize your value proposition? Partnerships.
Take a look at WhatsApp, an encrypted messaging client for smartphones that was recently purchased by Facebook for over $19 billion. From their early stages through today, WhatsApp outsourced almost all of its technology development to a knowledgeable partner. Partnering with a developer has worked for many startups - here is a list of organizations that succeeded through forging technology partnerships:
Alibaba
MYSQL
SeatGeek
App Sump
Slack
Skype
Why do startups partner with a technology firm for custom development? According to a 2016 survey on outsourcing published by Deloitte, companies of all growth stages and sizes opt to outsource technology due to cost-effectiveness, product customization and cybersecurity vulnerability concerns.
Cost? Don’t cut corners
When it comes to outsourcing, you get what you pay for. While cost saving may be important for your startup or small business, partnering with the right technology firm that offers the experience, tools, and skills required for your project is essential. Forging a partnership with a technology firm will increase the efficiency of your startup or small business by maximizing your time and controlling overhead cost, allowing you and your team to devote more resources towards growth.
Creating your brand requires extraordinary effort. One of the most critical steps in brand creation is establishing beneficial partnerships, especially for development (apps, technology, infrastructure, etc.). Also, don’t cut corners or you will absolutely regret it. When it comes to selecting your developer team, find someone that you trust.
Customization & Cybersecurity? Essential
Technology has redefined every industry and continues to change everyday. If your focus is generating traffic, increasing customer retention, and overall growth, your technology needs to be current and updated constantly, something that off-the-shelf solutions just can’t offer.
No industry, sector or business is safe against a cyber threat. Whether you’re a mom and pop shop or monster enterprise, your infrastructure will always have vulnerabilities. Did you know that the main reason a firm may be hacked is not due to the existence of a vulnerability, but due to the indifference shown to cybersecurity by management? If you fail to stay current, you’ll fall behind the competition and lose your value proposition.
Don’t Overlook Cost of Ownership
After you develop or implement a custom solution, how do you keep it up-to-date? Many startups and small businesses often become tied up with other critical aspects of growth (i.e sales, marketing, operations) and cybersecurity is often overlooked.
Development and implementation are only half the battle. In fact, according to industry figures from CIO, it’s about 20% of the battle. What is that other 80%? Once you implement the system, it’s yours to maintain, including:
Cybersecurity
Integrations
Support & Training
Disaster recovery
Data management
Modernization
As technology changes at an overwhelming pace, you and your systems need to stay current. Partnering with a technology firm that will maintain your systems is essential.
When in doubt? Source it out.
Are you looking to transform your startup or small business and obtain tremendous exponential growth like Alibaba, Slack, Skype or WhatsApp? Engaging professional expertise may be the difference between the success or failure of your business. You need a strong technology partner that you can trust. Trust in Troy Web Consulting. Unlike many development groups, Troy Web Consulting has the people, process and infrastructure to support your project or application long after the initial creation. We take pride in partnering with startups and small businesses on their journey to success. The team at Troy Web Consulting has extensive knowledge in multiple frameworks and coding languages, so we can cater and grow with your needs. We’re Troy Web Consulting. Our mission is to build kick-ass software that is reliable, adaptable, elegant and efficient. We design, build and deliver technology that works for you.