According to the Startup Genome Survey, 74% of companies out of 3200 startups had badly failed because they chose to scale prematurely.
Starting your own business is no cakewalk. It takes a lot of dedication and sweat. Building a successful business takes a lot of hard work and the right team that will strive hard to accomplish your objectives.
Let’s consider that your idea is good and the company is flourishing. But what’s the next step? Is it focus on business growth?
Well, that’s true. And business growth requires you to scaling up the team as well as the company. So, in this blog post, you will learn about the right time and process to scale up your startup.
What Are the Signs That It’s Time to Scale Up Your Startup?
First and foremost, ask yourself these questions.
- Do we have the right team in place?
- Are we managing to grab potential customers?
- Do we have revenue?
- Are we able to predict our profits?
- Is the cost being controlled?
If your answer to any of the above questions is no, then it is high time you start scaling your business.
“You don’t build a business; you build people, then people build the business.” – Rightly said by Zig Ziglar (American Motivational Speaker)
Hiring new employees is an inevitable part of scaling your business. But in-house recruitment for small tasks or short-term projects is not the right decision.
Working with an in-house team is costly and does not generate the ROI required to run business operations. That’s when offshore development becomes the right choice.
Here is when you should consider to scale up your startup and how offshore dedicated developers can help:
a) Lack of Skilled Expertise
You may require a developer with specific skills set to accomplish a particular task. This is because you have to make tough choices and allocate resources wisely.
When you are unable to find suitable proximity within your budget, an offshore development team can help. You get reliable expertise at cost-beneficial engagement models.
b) Planning Gaps
As a startup, you are basically a novice who is doing everything for the first time. For this reason, there may be times when you need help to build new strategies.
And even if you think of an innovative plan, there may be chances that there are planning gaps as you are unaware of the current trends.
To reduce planning gaps, engaged with established and reliable offshore development companies. Take help and leverage their expertise regarding a particular niche. With this, you can avoid the pitfalls that may hurt your business in the long run.
c) Restricted Budget
From looking for investment in asking acquaintances to spare some money, bringing in the capital is a major element to start a company.
Having a restricted budget is the biggest roadblock every entrepreneur has to face. At this point, offshore development emerges as a solution that can help you set up your team at a lower budget.
This helps entrepreneurs to hire dedicated offshore developers while cutting back on extra expenses skillfully.
d) Identify Your Core
Do you know how to know the right time to pull your resources so that focusing on core activities becomes easy?
Know your core competencies before taking your business to the next level.
- Are they any primary customers?
- Are primary prospects demanding more from you?
- Do you have an MVP and achieved product-market fit?
- Do you have enough funding to make it through a time in your business?
- Are you able to identify any of the above?
If yes, it is likely time that you consider scaling and utilize your time to the best with offshore developers.
The right offshore team helps gain access to experienced professionals that can effectively re-engineer your business to set the success stage.
So, defining the right time to scale your business can be a key point for your startup. To make the scaling process successful, you need to prepare a well-thought plan.
First, you should take a look at your company and define the right time so that it becomes a key point for your startup.
How Do Offshore Developers help to Scale Up your Startup?
When you launch your business, it is evident that you start thinking about the scaling strategy. But when you plan to add in-house employees, it is likely to increase the cost.
Offshore development companies help businesses to take control of their operations, scale as per the requirements.
a) Get the Basics Right
This world has become a society where celebrating overnight success has become common. Slow and steady wins the race is now an old adage. But trying to scale too quickly may result in high risk.
The first step of scaling your startup is to ensure if all the fundamentals are up to the mark.
You should be confident that your product is an ideal fit that fulfills user’s expectations. Know your target audience and be confident that you have resources available for them.
b) Develop the Right Strategy
The first thing that you should evaluate as a startup owner is a list of strengths, weaknesses, and prospects of your company. Then based on this information, set a goal.
Discuss the same with the developers you hire and ask how they will be implementing tasks. It is an important aspect of offshore team management and will help you in the long run.
c) Invest in the Best Technology
It’s a digital era now. Collaborating with an offshore development company is a popular solution that helps you in managing your startup and streamline as many processes as they can.
Offshore developers help you in improving your marketing strategies in accordance to the industry and analyze their buying pattern.
d) Stay Competitive
This is an interconnected world where companies compete on a global level. And innovation has become a significant factor in determining a company’s success.
The constant demand for customer satisfaction makes it even more challenging for businesses to stay relevant. If you want to stay competitive, you have to improve efficiency, operational procedures and focus on delivering quality solutions.
Offshore development allows companies to offer valued services with flexible work schedules.
e) High-Quality Work
The quality of offshore services varies from country to country and it depends on the goal that you have set for a particular project. Choose a country offering quality solutions at a reasonable cost.
The skill offered by the global workforce is irreplaceable so it should be effectively harnessed by the business.
f) The Precise Direction
Hiring talented individuals isn’t challenging; the tough part is finding offshore developers that can work with your in-house team seamlessly.
If you put together a team of massively trained professionals, but there is no coordination between them, you will land up in the problem.
Hire developers you think will “click” for true collaboration and an efficient work environment.
g) Strategy for Sprints
Running a tech company comes with a never-ending checklist. There is sometimes way more work than your in-house team can ever handle in the day shift, especially when you are looking forward to growth.
The experienced professionals go that extra mile to make sure you get the best.
Let’s suppose, you need to deliver an iOS mobile app on Friday, and it will take elongated hours a day for that to happen.
Collaborating with the offshore iOS developers allows your inhouse and offshore team to collectively work and accomplish the task.
h) Remain Nimble
Developing and adhering to logical processes is one of the most useful startup tips helping a company grow to scale.
When you engage an offshore agency, a systematic protocol is followed for essential functions.
You can then replicate them to scale quickly. Offshore development center helps you to retain agility while enjoying the benefits of operating like a refined business.
i) Focus on Where it Counts
Ambitious entrepreneurs should make sure offshore developers set realistic goals and implement concrete actions of how growth is achieved.
You should focus on your core competencies (outsource the rest) as that is where it counts. This also helps in freeing up a lot of time.
j) Proactively Seek New Opportunities
Outsourcing helps you to seek new opportunities, whether it is in terms of the product line, markets, brand awareness, and anything related to business success.
Knowing your competition is important so that an offshore development company ensures you follow the best practices to stay in the competition.
The hired offshore team makes sure that you stay updated with the latest trends allowing you to identify the ideal prospects. For them, creating the first good impression on the clients is equally important.
k) Good Team of Professionals
An experienced and reliable team is the foundation of your startup’s success. Have a detail discussion with your offshore developers and ask them:
- Will they be able to tackle new tasks?
- Are they ready to bring innovative solutions to the project?
If new tasks are an interesting challenge for them, they are the suitable offshore developers for you.
What Should You Remember?
Scalability is basically about the mindset. It is all about having the system and the workforce in place. In the initial phases of a startup, resources are likely to be limited.
Therefore, employing the right individuals to have the necessary skill set is very important. So, get in touch with an offshore development company and hire developers to scale up your startup so that you continue to reap long-term benefits.
Inefficient processes and inexperienced teams are the things that hold most startups back from scaling. Thus, create an environment that embraces continuous improvement and continuously looks for ways to grow.