Understand Startup Ecosystem and Challenges

Startup has a different ecosystem, challenges, constraints and way of working. Addysan team is well versed with those and work smartly to ensure right solution with optimum budget and faster implementation.

Most of the startup founder team are constrained on resources. They are constrained on spend but at the same time need high skilled resources. In normal scenario fund is directly related to resource skill one can acquire and speed up the implementation and expansion.

Startup generally work in adverse scenario, they need to manage a very thin line between accurate and right spend and real necessities. They should expand with a speed so that competitor do not surpass them and on the other hand it should not be over spent and exhausted. Statistics shows that few common reasons of failure are

1)Short of Fund – Even though one got million dollars as funding but still they ran out of cash to sustain.

2) Missed the right skill and quality hence outcome couldn’t capture the customer

3)Got delayed and competitor captured the market

One of the common mistake which leads to above three is

—Startup try to keep all in house team, be it technology, sales, operations, Content creation, marketing etc. Maintaining all these teams in house leads to over expenditure and quality compromise.

Founders need not be expert in all the area hence judging the right skill and their cost becomes a challenge more over to manage all the activities in house exhausts a lot of bandwidth in small nitty-gritties. It’s like you have your own office space and your job is to bid contracts and win but you cannot send an email because you are busy with network engineer in fixing internet (managing in house).

Right approach can be

• Plan a balanced approach on which team to be hired and which work should be outsourced.
• Consider cost, market reviews, experience and expertise of the organization with whom you are planning to outsource
• As you grow and gain more experience in different fields you can plan slowly to build small in house team.
• Never hire too costly resources at least in early stage, even if that role is required check if that work can be outsourced. In this way, you do not have a liability to spend even in lean period
• Always have phase wise implementation plan so that you can start early inflow of money. You check your business plan on timely interval and take appropriate action.

When you outsource to right organization their cost might be less as they work in shared mode. Their resources are more skilled because they keep doing the same work for multiple customers. For those organizations, it’s easier to acquire talent than to acquire at individual level.

 Identify Right Partner and Succeed in your Business!!