Whatsapp & Meesho.
Airbnb & PhonePe
Uber & Spotify.
Looking like 3 poles-apart pairs of companies put together for no reason?
Any link you can think of between each pair?
(Quick Clue : Think of how they ‘start’ed ! )
Bang on, mate - you guessed it right! Each one of them were a ‘startup’ once-upon-a-time and now, are unicorns!
With the number of global startup unicorns crossing 800 as recorded in September 2021 - a whopping hike from only 65 as calculated in 2015 - it’s evident how a ‘startup’ is still a great idea even after considering the fact that 90% of startups fall on their face as the 2019 report by Startup Genome confirms.
So that brings the question - “To start or not to start a startup?”
The answer is - yes (terms & conditions apply, but with the tricks under your sleeve or software, turning the conditions into your convenience gets easier than what it currently looks like in your head - with TOO MUCH of contradictory facts spread out!).
With the startup wave taking over the global market scenario not-so-slowly but steadily - there’s not a better time to plan and launch a startup than today.
But before you start planning your startup journey, let’s first learn what are the basic components of a winning contemporary startup?
An idea, of course, the backbone. (Read: 11 Ecommerce Business Ideas)
A financial plan to back the perfect execution of your plan and investments, if required.
And a software to accelerate the growth!
While software may seem like a familiar term - many fail to understand that ‘software development’ and ‘software development for startups’ have quite a few differentiating factors between them besides some common ones. Up next is the A to Z of software development for startups that we have learnt hands-on while developing for a diverse spectrum of startups across 15+ countries !
Have you checked out what makes us the repeatedly chosen custom software product development partner - yet?
Before jumping into the nitty-gritties of software development for startups - let’s first understand what it actually means.
By the way, did you check out our comprehensive product development guide for startups yet?
In simple words software development for startups is building software with a core goal of helping young companies trying to make an identity in the competitive market by doing full justice to their groundbreaking ideas by automating and streamlining the internal business processes to achieve specific business targets.
“Oh, my business is not THAT big yet when it’s time to get software!”
That’s where many companies kill the potential of their business right at the root by eliminating the idea of smartly aligning the time of the brains-of-the-business, efforts of the entire team, resource-utilization and budget with the business goal. But the point is, many startups are still surviving on manual efforts or using basic tools that come for ‘free’ or even ready-made software, so what difference can a software make? Because if it’s not significant, there’s clearly no point investing in it! Listing below the ways you can bring in such ‘significant’ differences in your business through software development for your startup - saving time & money is obviously the zero-th reason, rest are below :
A lot of people will rant about ‘custom’ software solving ‘custom’ problems but hardly any one of them would ever clarify to you what ‘custom’ problem really is and instead, go over the common software development problems only. So, we will start with that instead. Let’s think of a really basic grocery essential that most of us are familiar with - bread. Even considering the fact that ‘bread’ is a daily essential, with time there have been innovations in this space too - while some companies continue to stick to the regular white bread, some have shifted to ‘brown bread’ or ‘multigrain bread’. Now both of these businesses should apparently have the ‘same’ kind of model and thus, similar problems - but that’s not true! Let’s look at a few aspects for instance :
It’s a no-brainer that white bread is a traditional choice while brown / multigrain bread is something that the fitness enthusiasts (mostly the young adults to working professionals) would likely opt for. Such distinguished criteria obviously mean that lead generation for the mentioned offerings needs to be separately planned, too.
Considering the potent leads are different for a ‘white’ and a ‘brown’ bread company - the marketing strategy to convince them needs to be different as well. While a newspaper ad will do good to the former, a sample distribution collaborating with a gym will be good for the latter.
‘Custom’ problems - explained!
However, that’s only 0.0001% of the number of custom problems that a business faces in real life. Change the word ‘business’ to ‘startups’ and now you have 10X more problems !..and a custom software planned and developed for your startup solves MOST of them and curbs the intensity of the rest.
Whether it’s a team of 5 or 500 - it’s important that every update, modification, tweak in process for instant impact, completion or deadline and more of such factors are made known to the team - whether they use require it partially or fully, often or sometimes, for the sake of transparency and minimized process anomalies. Software development for startups ensures that employees from all hierarchies are on the same page by centralizing every bit of action taken over the business data along with levying relevant access controls.
Recruitment is a crucial part of any business and especially for startups because it ‘makes or breaks’ the initial flourishing phase and hence the future of the startup, too. But then - whether bootstrapped or investment-fed - a startup generally has to double-verify the estimated impact of any expenditure as the success of it is always uncertain. In such a scenario, hiring an HR is a big deal in itself for two basic reasons :
[i] The hiring needs after the primary team set up is mostly nil or once-in-a-bluemoon
[ii] Freelance HR services doesn’t do complete justice to the precise criteria fitting the particular hiring needs of a startup and an experienced HR is too expensive to invest in
Incorporating a bespoke HR module during custom software development for startups you can achieve quality hiring goals without bearing a significant lingering expenditure!
For a startup, growth is always on the cards! On that note, growth demands upscaling. Regardless of what industry your startup belongs to or how unique your business workflow is - upscaling is an imperative need. For example, who doesn’t want more customers? More customers means processing a larger number of orders and thus, stronger infrastructure support and that’s exactly what you can achieve with easy scalability in your software system.
More customers are great but processing the bulk queries that come along aren’t that great a feeling - right? So, does that make the way to growth a hindrance to itself? Well, obviously not - thanks to custom software, that solves your problems, your way! With custom software development for startups you can actually have the one-stop near-perfect (and more attentive!) substitute to multiple customer servicing teams working in rotating-shifts to attend to bulk customer queries at no recurring cost and no constant reviewing required. Sounds good? Works better (read, peak quality productivity and least errors)!
Process management - as the name suggests - implies a large sphere covering management of the total task set associated with the business processes. With custom software development for startups there’s much flexibility and scope to try out new alternatives to achieve goals optimally. An MVP or prototype with an incremental approach works great as you can test the market first and then hit the ground with a tried-and-tested robust development.
When the startups start their journey or think of achieving the ‘next big leap’, in most of the cases, with its great set of advantages, a software built around the specific purpose of the startup, eases the task to grow.
Let’s answer one common question before moving on to the advantages of software development for startups,
“Are these advantages applicable for startups from every industry?”
The answer is - yes!
Here’s a list of advantages that you can get from software development for startups collaborating with the right software development partner!
For a startup, every penny spent counts! Given that, it’s a real challenge to develop the software product without compromising the quality yet not burning a hole in your pocket. While hosting an in-house software development isn’t an option, neither is developing software with the ‘least charging’ development team as it kills the potential making that ‘least charge’ absolutely of no worth.
Handing your software development needs over to an experienced development company saves you from this struggle! Comes across as a secret sauce in itself as outsourcing software development for startups enables you to access a talent pool with all skills required to develop your software the best way possible and also, doesn’t stand as a recurring expense even when the need is over! So basically you pay for the skills only till you need the service.
A common problem that the startups face is tech debts, that is, the priority tasks getting delayed while trying to meet a deadline. Legit, with limited resources and several aspects requiring attention all at once - management gets difficult beyond measure. Outsourcing software requirements ensures that your inhouse workforce can focus on management areas requiring immediate attention for decision making while the development partner takes responsibility for delivering a software maintaining premium quality and effectiveness.
Given a chance, would you rather choose to..
[i] Look after every step of development (including the bugs and fixes!)
[ii] Oversee the experts dealing with the good-bad-and-ugly of development and then walk off with the ownership of the developed software?
Option 1? Good!
Option 2? Even Better (& Smarter!)
The startups turned startup unicorns chose option 2 as well and certainly, they didn’t have to regret. The prime reason? Like you know your business idea well, the development team knows theirs and it’s only when the two collaborate - the growth curve takes a steep rise. All you have to do is tell them what you want to develop and check how feasible it is to your chosen development partner - that’s all! If the answer is yes, all you have to do is sit back and test the developed modules while the team manages end-to-end software development !
Risks are almost like the middle name of ‘software development’ and clearly the pros can manage them harder than the first timers!
By outsourcing the task of software development you also hand over the ‘face and manage risks’ part to your development partner and meet the ready software when it has overcome the risks and is at its absolute best.
The security factors make or break a software and it’s no secret. Imagine your path breaking business secret leaking off your digital workflow..that’s what may happen if you hand over the development to the wrong hands! With the right partner you get to understand the security measures and let their hands-on experience on similar projects be the deciding factor in case of having foolproof security in place.
That’s more like asking how much does a house cost?
What ‘house’ are you looking at - A hut? An apartment? A mansion?..
Practically a ‘house’ can mean so many things and clearly the price varies accordingly!
Similarly, there’s no fixed concept of a ‘startup’ and thus, no fixed price tag.
However, depending on a few factors like the complexity of business logic, what features you choose, by what time you want it developed etc. , you can expect the cost of software to cost somewhere around USD 15K for a simple software and USD 50K+ for an extremely complex one.
[i] Have a clear understanding of what you expect from the software
[ii] Get in touch with a software development development partner with extensive experience in software development for startups
[iii] Share your requirements with the team and weigh their compatibility against your needs
[iv] Once both are a match - mutually build a project outline first and then flesh out with every possible detail to ensure both the parties are clearly aware of the requirements and also there’s no last minute (negative) surprise!
[v] Sit back hassle-free and test to provide feedback stating if the modules are running as per your vision
[vi] Get away with the developed product and its IP rights!
When it comes to software development, the startups generally have either of the two things in mind - a software that comes at the least cost and a software that serves the job the best possible way. Clearly, to get some ‘value’ for money, you need to pay the standard price first! Software development for startups with BinaryFolks enables your startup to move up the growth trajectory uninterrupted while freeing maximum manual efforts and minimizing errors . Our skilled & experienced software developers have hands-on expertise in delivering cutting edge software to several startup clients from across almost all the industries. Here's what to expect if software development for startups with BinaryFolks is on your mind:
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