Digitalization is ruling the #markettrend since a long time that shapes many businesses, allows them to keep going with an online business sales, a supply chain, restaurants, service providing companies, construction companies, and many other businesses with the software solutions and apps.
It optimizes working processes within the company, reaches out to your clients, and creates a web and mobile presence able to attract not only customers but also potential investors interested in your business.
No second thought, Yes, software development can add value to your business. Even if after a point you decide to sell your business and turn into a new direction of growth, having a digital workflow, A business software will be your advantage to attract potential buyers. So, let’s dive into this topic and discover how a right choice of software development partner can help increase the value of your company at each stage of your software development.
Stage 1: Idea:
You have an idea of a product or service and you need to turn it into a consistent business plan. How does a software development company add value to it?
Stage 2: Beginning Startup
With a visionary business plan for your product, when you start looking for the development source to begin with your start-up, Here you’ll face a choice: assemble an in-house IT team, hire a freelancer, or outsource to a software development company. Let’s explore the efforts required when hired a freelancer or a software development company :
Freelancer:
Software Development Company:
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Stage 3: Experienced Startup
Once the product is out, you are ready to begin with the periodic evolution of the basic version with new features, new users, new devices and new requests referring to the competitors in the market. But to stick around in the market, you must need a team of reliable developers who are determined to work on product updates. The software partner can respond to your growing needs in many ways:
Thus, you do not shift your focus from your business and client expectations, while all the technology and developments will be taken care by your software partner!
Stage 4: Established Company / Enterprise
Over the period when your product will grow in the market, including technological and complex organization structure, the expectations of users will grow too. Now let’s see how all this value is provided to you. Let’s return to the evolution chain.
Evaluation of Added Value At Each Stage:
Stage 1: Idea
At this stage you get crucial information through consultancy, which includes:
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Stage 2: Beginning Startup
If you are planning to develop MVP project, there are two options:
Stage 3: Experienced Startup
The wise decision is to approach a reputed software development team with the sufficient Time & Materials contract terms in favour and is preferable for ongoing delivery of a turn-key product thanks to:
Stage 4: Established Company / Enterprise
Dedicated Team contract is usually the only viable solution:
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Conclusion:
Our story can be summed up with several do’s and don’ts for product owners:
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For any further information / query regarding Technology, please email us at info@varianceinfotech.com
OR call us on +1 630 534 0220, Alternately you can request for information by filling up Contact Us
OR call us on +1 630 534 0220, Alternately you can request for information by filling up Contact Us