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What is Seed Funding And How it’s Works?

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The journey of entrepreneurship is often likened to a roller coaster ride, filled with exhilarating highs and challenging lows. One of the most daunting challenges faced by aspiring entrepreneurs is securing the initial capital to turn their innovative ideas into viable businesses. This is where seed funding emerges as a critical catalyst for startup success. In this comprehensive guide, we will delve deep into the world of seed funding, unraveling its nuances, and exploring how it can kickstart your entrepreneurial dreams.

Key Points:

  • Seed funding is the first pivotal stage of investment for startups.
  • It provides the much-needed capital to initiate business operations and product development.
  • Equity in the company is exchanged for financial support, aligning investor and entrepreneur interests.

What is Seed Funding?

Seed funding, also known as seed capital or seed money, represents the initial infusion of capital that startups receive to set their wheels in motion. It serves as the foundational financial support that enables entrepreneurs to breathe life into their visions, develop cutting-edge products or services, and ignite their entrepreneurial journey. In exchange for this crucial funding, startups offer equity shares to their investors, aligning their interests in the company’s growth and prosperity.

Types of Seed Funding

There are various types of seed funding sources and methods, each with its own characteristics and requirements. Here are some common types of seed funding:

Equity Financing

Equity financing involves exchanging ownership shares or equity in the company for capital. This type of seed funding is common among startups and allows investors to become partial owners of the business. Equity financing is a long-term investment, and investors share in the company’s profits and losses.

Convertible Notes

Convertible notes, also known as convertible debt, are loans provided to startups with the option to convert the debt into equity at a later stage. This type of seed funding offers flexibility to both the startup and the investor. If the startup succeeds, the investor can convert the debt into equity, and if not, they can seek repayment.

Crowdfunding

Crowdfunding has gained immense popularity in recent years. It involves raising small amounts of money from a large number of individuals, typically through online platforms. Crowdfunding allows startups to access capital while also building a community of supporters and potential customers.

Angel Investors

Angel investors are high-net-worth individuals who invest their personal funds into startups in exchange for equity. They often provide not only capital but also valuable mentorship and networking opportunities. Angel investors play a crucial role in nurturing early-stage companies.

Venture Capital

Venture capital (VC) firms are professional investment organizations that provide funding to startups in exchange for equity. VC funding is usually sought by startups with significant growth potential. Venture capitalists are known for their strategic guidance and involvement in the companies they invest in.

Comparison of Seed Funding Types

To help you understand the differences between these types of seed funding, let’s compare them in terms of key factors:

FactorEquity FinancingConvertible NotesCrowdfundingAngel InvestorsVenture Capital
OwnershipPartialPotentialN/APartialPartial
RepaymentNo repaymentOptionalNo repaymentNo repaymentNo repayment
Investor InvolvementVariedLimitedLimitedHighHigh
Funding AmountVariesVariesVariesVariesLarge
Time to Access FundsModerateQuickModerateModerateModerate
Source of FundsInvestorsInvestorsCrowdIndividualInvestment Firm

Why Is Seed Funding Important?

Securing seed funding is crucial for several reasons:

1. Validation of Concept

Seed funding allows entrepreneurs to validate their business ideas and concepts in a real-world setting. It provides the financial support needed to turn abstract ideas into tangible products or services, proving their viability in the market.

2. Accelerated Growth

With seed funding, startups can scale and grow more rapidly than they would without it. This financial boost enables them to hire key personnel, invest in marketing, and expand their operations.

3. Access to Expertise

Investors who provide seed funding often bring valuable industry expertise and networks to the table. This mentorship and guidance can be instrumental in steering the startup toward success.

4. Product Development

Seed funding is crucial for developing a prototype or MVP. This working model can be used to attract further funding and refine the product based on real user feedback.

5. Marketing and Expansion

Seed funding can be allocated to marketing efforts, helping startups reach a wider audience and gain a competitive edge. It also facilitates geographic or market expansion.

How Does Seed Funding Work?

Seed funding operates within a structured framework involving several key stages:

Finding Investors

Finding the right investors for your startup is the first step in the seed funding process. Look for individuals or organizations that have an interest in your industry and a history of supporting early-stage companies. Networking events, online platforms, and even angel investor groups can be valuable resources in your search.

Pitching Your Idea

Once you’ve identified potential investors, it’s time to pitch your startup idea to them. Your pitch should be concise, and compelling, and highlight the unique value proposition of your business. Make sure to clearly articulate how their investment will contribute to your success.

Due Diligence

Investors will conduct due diligence to assess the feasibility and potential risks of your venture. Be prepared to provide them with detailed information about your business plan, financial projections, and market research. Transparency is key during this phase.

Negotiating Terms

Negotiating the terms of the investment is a critical step. This includes determining the valuation of your startup, the percentage of equity you’re willing to offer, and any specific conditions or expectations from the investor. Seek legal counsel to ensure a fair deal.

Closing the Deal

Once both parties agree on the terms, it’s time to close the deal. This involves legal documentation, the transfer of funds, and the formalization of the investor’s role in your startup. Celebrate this milestone as you prepare to take your business to the next level.

Key Players in Seed Funding

Several essential stakeholders are integral to the seed funding ecosystem:

  1. Angel Investors: These high-net-worth individuals invest their personal capital in startups in exchange for equity. They often bring invaluable industry knowledge and mentorship.
  2. Venture Capitalists: Venture capital firms pool funds from diverse sources, such as corporations, pension funds, and affluent individuals. They seek high-growth potential startups for investment.
  3. Crowdfunding Platforms: Online platforms like Kickstarter and Indiegogo allow a multitude of individuals to contribute small amounts of money to a startup in exchange for rewards or equity.
  4. Incubators and Accelerators: These organizations provide startups with a nurturing environment, mentorship, and resources in return for equity or a stake in the company.

Key Points:

  • Angel investors, venture capitalists, crowdfunding platforms, and incubators play pivotal roles in the seed funding landscape.
  • Each category of investor may have distinct investment criteria and expectations.

Benefits of Seed Funding

Now that we understand what is seed funding how it works and the importance of seed funding, let’s delve deeper into its key benefits:

Accelerated Growth

Seed funding provides the financial injection necessary for startups to grow quickly. This capital allows companies to hire the right talent, invest in infrastructure, and take their products or services to market faster.

Access to Expertise

Investors who provide seed funding often bring more than just money to the table. They offer valuable industry knowledge, experience, and connections. This mentorship can guide startups through challenges and help them make informed decisions.

Validation of Concept

Securing seed funding is a strong validation of your startup’s concept. It indicates that investors believe in your idea and are willing to invest in its success. This validation can boost your credibility in the eyes of future investors and customers.

Product Development

Seed funding allows startups to develop a working prototype or MVP. This is a critical step in refining the product based on user feedback and attracting further investment.

Marketing and Expansion

With seed funding, startups can allocate resources to marketing efforts, enabling them to reach a larger audience and gain a competitive edge. It also provides the means for geographic or market expansion, helping startups grow their customer base.

Challenges and Risks of Seed Funding

Seed funding is an essential stage in the life cycle of many startups, providing the initial capital needed to turn innovative ideas into viable businesses. However, like any stage of financing, seed funding comes with its own set of challenges and risks. Here are some of the key challenges and risks associated with seed funding:

Limited Capital:

Seed funding typically provides startups with a relatively small amount of capital compared to later funding rounds. This limited capital can be a challenge for startups with ambitious growth plans, as it may not be sufficient to cover all expenses or execute their vision.

Uncertain Valuation:

Valuing a startup at the seed stage can be challenging, as there may be limited or no revenue to base the valuation on. This uncertainty can lead to disagreements between founders and investors, potentially causing delays or even deal breakages.

Lack of Track Record:

Startups at the seed stage often lack a proven track record of success. This can make it difficult to attract investors, as they may be hesitant to invest in unproven concepts or teams.

High Risk of Failure:

Seed-stage startups are inherently risky. Many startups fail at this stage due to market uncertainties, product-market fit issues, or other challenges. Investors are well aware of this risk and may demand significant equity in exchange for their investment.

Limited Resources:

Startups at the seed stage typically have limited resources, including personnel and infrastructure. This can make it challenging to execute their business plans effectively and compete in the market.

Founder Dilution:

To secure seed funding, founders often have to give up a significant portion of their equity. This dilution can reduce their ownership stake and control over the company, which may be a concern for some entrepreneurs.

Market Validation:

One of the primary objectives of seed funding is to validate the market demand for a product or service. If the market doesn’t respond as expected, it can be challenging to secure additional funding in later stages.

Investor Expectations:

Seed investors may have different expectations regarding the growth and direction of the startup. Managing these expectations and aligning them with the founders’ vision can be a challenge.

Competitive Landscape:

Startups often face competition from other businesses, including well-established players and other startups. Navigating a competitive landscape can be challenging, especially with limited resources.

Legal and Regulatory Risks:

Startups may face legal and regulatory challenges that can impact their operations or require costly compliance measures.

Exit Strategy:

Seed investors often expect an exit strategy, such as acquisition or going public, to provide returns on their investment. Developing and executing a viable exit strategy can be complex and uncertain.

Market Timing:

The timing of market entry can be critical to a startup’s success. Entering a market too early or too late can pose significant risks.

Despite these challenges and risks, seed funding remains a crucial step for many startups, providing them with the financial support needed to prove their concept and attract further investment. Success at the seed stage can open doors to additional funding rounds and long-term growth opportunities. Entrepreneurs and investors alike must carefully assess these challenges and risks and work together to mitigate them to increase the chances of a successful seed-funded startup.

FAQs About Seed Funding

Q1: What is the typical amount of seed funding a startup receives?

A1: The quantum of seed funding a startup secures can vary significantly based on factors such as the industry, geographical location, and the comprehensiveness of the business plan. On average, seed funding rounds range from as low as $10,000 to as high as $2 million.

Q2: Is seed funding mandatory for all startups?

A2: Seed funding is not a universal prerequisite for startups. Some entrepreneurs opt to bootstrap their businesses, relying on personal savings and revenue generation to fund their operations and growth.

Q3: How can I connect with angel investors or venture capitalists for seed funding?

A3: Networking events, startup incubators, and online platforms like AngelList provide valuable avenues to connect with potential seed investors. Building relationships and showcasing your business proposition are crucial steps in attracting investors.

Q4: What percentage of equity should I offer to seed investors?

A4: The equity stake offered to seed investors can vary widely and depends on factors like the startup’s valuation, funding requirements, and investor expectations. Typically, seed investors may acquire equity stakes ranging from 10% to 25%.

Q5: Is seed funding taxable income for my startup?

A5: Seed funding is generally not categorized as taxable income for startups. Instead, it is viewed as an investment in the business and not treated as revenue.

Q6: How can I find seed funding for my startup?

A1: Finding seed funding involves networking, crafting a compelling pitch, and connecting with angel investors or venture capitalists who specialize in your industry. Don’t forget to leverage online platforms like Upwork, where you can find experts to help you with your pitch and business plan.

Q7: Is seed funding only for tech startups?

A2: While seed funding is commonly associated with tech startups, it is available to startups in various industries. The key is to demonstrate your idea’s potential for growth and profitability.

Q8: What should I include in my pitch to attract seed investors?

A3: Your pitch should include a clear problem statement, a unique solution, a strong team, market research, financial projections, and a well-thought-out business plan.

Conclusion

Seed funding is the lifeblood of many successful startups. It provides the financial support and resources needed to turn entrepreneurial dreams into reality. Whether you’re an aspiring entrepreneur seeking funding or an investor looking to support innovative ideas, seed funding offers a mutually beneficial path to growth and success.

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10 Principles of UI Designas For Founders

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This article is posted from a Founder’s point of view to create a good UI Design, rather than a Designer’s point of view. The aim is to create a design of the product that makes the user loyal and engaged.

Here are the “10 Principles of Good UI Design”

Design your product according to the market you serve:

The UI for a Music concert website would be significantly different than a bridal e-commerce website.

The color combinations, the icons, the placement of buttons, everything varies significantly with the domain and age group of the target audiences.

Before you start the designing finalize your target audience which domain they belong to (corporates or casuals), which industry they belong to (IT, Retail, education, student, etc. ), and lastly the age group of the users of your application.

This will prove very effective in creating a good UI.

Unless those are your Granny’s panties, they don’t need to be big or bulky:

Try to keep as fewer features or text on a page as possible. Try to make use of icons to make the features more explanatory with less use of words.

However, by no means do I mean that your users should be left confused and stranded. Customer understanding and the ability to easily transition from one feature to another should be the utmost priority.

Minimalistic design is the new Black. (That goes for Steve Jobs’s dressing as well)

Think of your Core idea as a bride in her wedding, very well differentiated:

What makes your application or website really useful is the core idea. That one differentiating factor you have from your competitors is your product’s true identity.

Make sure your USP feature is well-focused and differentiated from the other functionalities. It should be most easily accessible.

Don’t let your USP get out of focus in the distraction of the generic features. Make it stand out.

Focus on the user journey:

Before starting the UI design form a flow of how the user will navigate on the application/ website. List down the page-by-page journey of the user.

Mention the buttons he would click on each page/screen to reach the desired next page. While designing you can place the spotlight on the important buttons hence making the user easily discover and navigate the application.

The simplicity of the UI in the flow to find the desired page has always been the key to an engaging and successful product.

Avoid Visual pollution:

Yeah, it is actually a term. Good UI design is environmentally friendly. It should make an essential contribution to the preservation of the environment around the user.

The specific environment that you can save here is the visual surrounding of the user using your application or website. Make the user feel at peace and enjoy looking at the screen.

Here is a small test: Once you have the UI design in front of you look at it for 1 minute straight. Now, decide for yourself, how many times did you just feel like turning away from it.

Read More: Here is the Difference between UI and UX Design

Test it before developing it:

Once your UI design is ready, make a prototype of it before starting the development. And share it with real users to test if they find it as simple to use as you thought them to be.

Some of the handy tools, if you don’t wanna spend, are MavelApp, Invisionapp. Ready a bit about Guerrilla Usability Testing you have to do it to get genuine user feedback.

Keep taking feedback, practice makes a man perfect and so does the UI design:

Of course, you won’t come up with the ideal design on the first go, for multiple reasons. Hence keep plenty of space for your users to give you feedback.

Again, not every feedback is worth implementing. And no need to even keep track of which changes have been requested the most.

If the feature is so necessary and so much in demand, then it will come up most often and would catch your attention. The most necessary feature will stick with you without you making any extra effort.

Be patient, great products aren’t built in 1 day:

As a founder, I understand that you are super excited and want to release your product as soon as possible. But a great design takes time.

And trust me, satisfaction is a myth. Because as a human we keep upgrading. Hence, our expectations and new ideas keep flowing in as you enter the design phase.

Therefore, define a deadline and take the best solution you have for the development while continuing to perfect your design and bringing it into version 2.

Designs are not like Wine, they don’t get better with the age

On the contrary, Designs in the web and mobile world are changing at a rapid pace. New features and new ways to do old actions are being discovered and implemented every fortnight.

Pick the 3 Apps you use the most which have similar features to your idea, not a similar idea but a single similar feature like notification, newsfeed, etc. Make a list of the features and the reason why you like it in one application over the other.

Just as an example, try to think about how the UI design of the Facebook app has changed in the past 1 year.

Do a facial, not a plastic surgery:

Be ready to redesign your product every year. However, you just want to make small tweaks to your UI designs.

Keep the heart of the application/ website constant, always, unless there is something drastically wrong with it. Users form a loyalty to the UI of the product. If you change it too much you might lose the loyalty of your customers.

Even if you want to change it completely, then change it step by step, slowly, over a period of time. Give your audience sufficient time to accept the changes and become comfortable with the new features and UI of the product.

These are some rules which I had used extensively with my clients across the globe. And we have received phenomenal success, I mean my clients have, client success is our success after all. Some have even won best design awards and been selected in Y-Combinator.

How can UI design principles benefit startup founders?

UI (User Interface) design principles can offer significant benefits to startup founders by enhancing the overall user experience of their products or services. Here’s how these principles can positively impact startups:

Improved User Experience (UX):

UI design principles help create interfaces that are intuitive, user-friendly, and easy to navigate. A positive user experience can lead to higher customer satisfaction and loyalty, which are crucial for startups trying to establish themselves in the market.

Increased User Engagement:

Well-designed UIs encourage users to interact more with your product or service. This engagement can translate into more time spent on your platform, higher conversion rates, and increased user retention.

Clear Communication:

UI design principles focus on effective communication through visual elements. Startups can convey their brand message, features, and benefits more clearly to users, helping them understand what the product offers and how it can solve their problems.

Competitive Advantage:

In a competitive startup landscape, having a polished and aesthetically pleasing UI can set you apart from the competition. A great UI can attract users and instill confidence in your brand, giving you an edge in acquiring and retaining customers.

Reduced Learning Curve:

Intuitive UI design simplifies the user learning curve. Startups can save on customer support and training costs as users can quickly grasp how to use the product without requiring extensive guidance.

Enhanced Brand Image:

A well-designed UI contributes to a professional and trustworthy brand image. It shows that your startup cares about the details and is committed to providing a high-quality experience for its users.

Flexibility and Adaptability:

UI design principles include creating interfaces that are responsive and adaptable to various devices and screen sizes. This is essential in today’s multi-device landscape, ensuring that users can access and enjoy your product on any platform.

Guidance Through Tasks:

Proper UI design guides users through various tasks and processes, reducing errors and frustration. For startups with complex or innovative products, this guidance can be crucial in helping users extract value from the product.

Data-Driven Iteration:

UI design principles often involve user testing and analysis of user behavior. Startups can gather valuable insights from user interactions and make data-driven improvements to their product, leading to continuous optimization.

Early Validation:

Implementing UI design principles during the early stages of product development can help validate your startup idea. A well-designed prototype can be used to gather feedback and attract potential investors or partners.

Saves Development Time and Costs:

Addressing UI design early can prevent costly design changes down the road. Well-thought-out UI design minimizes the need for extensive post-development revisions, saving both time and money.

Scalability:

As your startup grows, a solid UI design foundation can be easily scaled to accommodate new features and functionalities. Consistency in design elements ensures a seamless user experience as the product evolves.

By incorporating UI design principles into their products, startup founders can create an enjoyable, user-centered experience that resonates with their target audience, drives growth, and builds a strong foundation for their business success.

So what are you waiting for, go to your designer and bring out the best in your application.

Points to keep in mind while designing client’s idea (UI/UX)?

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Many people don’t understand the work of UI/UX designers. For them, it’s just designing that needs to look good. At the start of a project, it is important for designers to understand what to ask graphic design clients to gather as much information as possible.

This needs to take place before you have someone to handle the job, as it is obvious to have a meeting to determine the cost and timeframe of the project. To get the accurate estimate in your proposal you should ask some or all of the research questions below. It will help you provide the right information to your UI/UX designer.

Who Is Your Target Audience?

Research what the design is for. This will have a great impact on the style, content, and message of the project. For example, a person in Vietnam has a different UI preference than someone in the US. And so on for different factors mentioned below.

 Now, some factors that can impact its design:

  1. Internal (i.e. employees of the company) or external customers
  2. Age
  3. Geographic location
  4. Gender
  5. Depending on the project, factors like economic status and religion may also come into play.

What Is The Message?

What message you want to deliver to the target audience needs to be clear. The overall message can be something as simple as showing gratitude to customers or announcing a new product. Once that is established, go beyond it to find out the “mood” of the message. Is it exciting? Thoughtful? Compassionate?

Gather some keywords that will aid the overall style of your design. If you are in a meeting, consider asking each person to come up with a few words and ideas that they think describe the mood of the message, and brainstorm from there.

What Is The Perspective Of The Project?

You may already have a VISION of specifications for a design, thinking of the feature after hiring a UI/UX designer can add a lot of cost to the project. This is where we would suggest you hire a Project Manager(like us) who can suggest the best features for your project.

The UI/UX designers are not very good at suggesting new features or the most useful ones, however, they are the starts when it comes to the representation from the users’ point of view.

The amount of content to present, budget, and final use of the design may all depend on these decisions:

  1. Number of web pages/screens
  2. Number of clicks on a page
  3. Clarity of scope
  4. Timeline

Here are 7 ways on how UI design could increase your sales!!

What Is The Budget?

In many cases, clients are afraid to disclose their budget for a project. They may either have no idea about – what a design should cost, or they just want you to say a number first in order to get it done for cheaper.

Generally, the cost of the UI/UX designer is fixed. The standard rates differ as per the number of pages. If you try to negotiate too much on price the UI/UX designer may just ask to alter some parameters  (such as timeframe or the amount of design you provide) to fit within the budget.

It is ok to say you need to review the project whether they reveal a budget or not. You will get back to them with your preferable quote. Sometimes, the UI/UX designer’s budget will be higher than you expect, now just ask the UI/UX designer for a whole project cost rather than per page cost.

Is There A Specific Deadline?

If the project needs to be delivered on a specific date, then make it a point to give a deadline at least 2 weeks ahead. It may coincide with a product launch, or another important milestone, for your UI/UX designer. If there is no deadline, you have to create a timeframe for completing the project.

The designer may claim that the timeline is insufficient and you feel it is not considerable. Let your UI/UX designer win this race while mentioning that you would need a daily progress report and review calls.

Are You Looking To Hire UI UX Designer? Consult Us Now

Can The Client Provide Creative Direction?

It is an absolute necessity to get a little creative direction from the client. Of course, the designer will be creating something new and unique for you, but some ideas from your side will help the designer to meet your expectations.

For designers, it is important to understand your preferences of the below points hence you should consider keeping the references websites ready, for each element respectively.

  • Colors
  • Fonts
  • Works of art
  • Other designs
  • Websites

A good designer will always take your pre-decided color scheme, typefaces, logos, or other elements that need to be incorporated. You can even give your own style sheet.

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Delve into this information while working on your ideas with your designer, it will help the working relationship and design process to run smoothly. Be sure to have detailed notes when asking these questions, and include as much information as possible in your proposal.

How These Top 5 Startups found Their First 10000 cutomers

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The aim to share these stories/growth hacks is to help you realize that no one is an exception to the journey of startups. Even these, today’s world, behemoths have once struggled to tractions and a steady customer base on their platforms. Even if they have faced the problems that you are or might face in the future. However, what differs is how they chose to fight against the odds.

It may be tough to imagine that these startups could ever face such a crisis. But they did and they still do. The challenge of having more and more active customers on the platform never fades away. When you are at 1,000, you want to reach 100,000. When you are at 100,000 you want to reach 10 million and then you want everyone on board. Once you have everyone then you want to find new ways to get them more and more engaged.

5 Biggest Startups WorldWide

1. Facebook:

Facebook is arguably the biggest social media platform that there is on the internet today. Before the launch of “Facebook”, Mark had already made a name with “FaceMash” so instead of “Facebook”. We will see how FaceMash got its first users. However, Facebook only made use of some word-of-mouth publicity and email campaign to gain its first users since the platform was already set.

*FaceMash

FaceMash started as a “Hot or Not Game” for Harvard students. Since the game was already popular it did not require any explanation. Mark first gathered the data of all the students from the existing Harvard Site which had a student database. Then he showed it to his friends and took them to a bigger gathering. The link quickly started circulating to several campus groups in a closed network. It was a matter of time before students from other colleges wanted to try it. Although FaceMash got shut down pretty soon. Mark had already created trust, credibility, and brand image. Since it was a closed group Facebook got full advantage of the platform set by FaceMash.

2. Alibaba:

An e-Commerce startup giant, its recent Single’s Day sale, signature annual sale, broke all records to report a rise of 27% y-o-y growth to revenue of $31 Billion. Unlike Mark, Jack Ma was a complete failure without any strong background. But he was a fighter and an ambitious man, nonetheless.
After the launch, Jack Ma hired an army of sales executives and sent them to every Manufacturer in China. Given that China is the world’s Largest Manufacturing Country you can imagine the scale and brute force required. Manufacturers were not internet friendly at that time. Hence Jack had to really motivate the salespeople to first believe in the idea and second convince manufacturers about the impact Alibaba can make.
Salespeople showed manufacturers different ways in which the platform could be used. And how it could grow their business multi-fold. Once Manufacturers started using the platform they even became its customers.

3. Uber:

One of the most valued startups of the era, the ride-hailing app Uber, had not just 1 but 2 smart strategies. The first strategy was applied in 2013 when bus workers in Boston went on strike. Uber offered free service to the stranded kids of Boston Public School for which it got massive publicity and word of mouth, and the bookings shot overnight. More than offering free-ride the thing to note is the cause and timing.
Second, a brilliant move was a simple campaign, on National Cat Day. Uber delivered Kittens to its customers who would agree to a 15-minute Kitten petting session. The cause was focused to raise money for kitten shelters and it raised $14,268 in a single day. The campaign was a massive success. It enticed customers to try Uber services.

4. Airbnb:

Airbnb today may be very popular and widespread but just think about it. A concept where the website let’s owner rent their rooms/houses to “strangers”. How tough would it be for people to accept that and how long would it take to become comfortable with the concept? No one likes to share their personal space and we are talking about space in their own house. And yet Airbnb cracked it brilliantly.
The founders went door to door to every person who showed interest and used professional photographers to take pictures of the property. They even stayed at the guest’s houses to make them understand the concept and become comfortable with the same. Instead of doing a bulk user acquisition they focused on a handful of people and made sure that they get the best experience.

*Airbnb chooses good targets as well,

like New York at the time on DNC, it hosted parties and meetups in the Spring Break and Christmas to build trust and loyalty. They knew that if they could convince a few then a spree of word of mouth would start. Which would be organic and at 0 costs. And it did work out to be that way for them.

5. Tinder:

Tinder’s growth hack is something that is the most fascinating to me. It went from 5,000 users to 15,000 users in just 1 trip. It is not the numbers that amaze me but the way Whitney Wolfe, the co-founder, came up with this strategy and it’s execution. She was bang on in identifying her target audience and the places to find and interact with them.

*Target Audiences

The obvious target audiences were college-going students and the most common place to find students were parties. Hence Whitney organized Parties at different places on the campus with 1 simple rule everyone has to download Tinder and use it once. Now, this idea would have been a complete flop. But Whitney knew that in order to attract users she needed attractive girls and boys. Before throwing a party Whitney would go to Sororities to convince girls to create a profile. And then to fraternities to create a buzz about the app and then the parties, acting as the container for the explosion. Where things got into action. The idea was phenomenal and the result was a hockey stick growth.

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Conclusion:

The thing I want you guys to take away with you is not memorization for the smartness. That these founders showed but the thing they all prioritized on. If you observe the common trend in all the above startups. You will find that they all focused on giving customers a great and personalized experience. Instead of doing bulk marketing they rather focused on a group at a time with a goal to gain Word-Of-Mouth publicity. The strongest of the genre, which comes at 0 direct costs and lasts much longer.

However, another very important thing to note is that their portals were completely ready and well-tested before approaching these audiences. Founders made sure that they provide such a service to the visitors which should be hard to forget.

 

Mistakes and Solutions: 5 Lessons From 10 Failed Unicorn Startups

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The startup success rate is less than 10% this is probably the one stat that every Entrepreneur knows. However, most of entrepreneurs think that once a startup raises funding things become smoother and their success is inevitable. I studied these 10 successful Unicorn Startups that raised funding and even got amazing traction from the start and yet they failed. There were 5 traits that each one of these startups shared, not sequentially but somewhere between their run.

The 10 Unicorn Startups That Failed Are :

  1. Solyndra raised $1.2 Billion
  2. Arrivo raised $1 Billion
  3. Jawbone raised $929.9 Million
  4. The Verge raised $305 Million
  5. Beepi raised $149 Million
  6. Juicerro raised $118.5 Million
  7. Yik Yak raised $73.5 Million
  8. Shyp raised $62.1 Million
  9. PepperTap raised $51.2 Million
  10. Doppler Labs raised $51.1 Million

And this is what I found. I will go in sequential order to the importance and the magnitude of the effect it has

Reason:

“Startup is like a Marriage proposal it is best when it is well planned”

Imagine you are going to propose to someone or someone is planning to propose to you and the complete day goes as a disaster. Doesn’t makeup as a good story to tell your kids, does it?

In the same manner, before you even decide on the name of your startup you have to plan the next 2 years for your startup. You need to be crystal clear on the road map and everything in between. Of course, you won’t be accurate but at least you will be close and aware which will help you learn better.

What Happens?

Most Unicorn Startups do a lot of theoretical research which leads them to untested hopes and assumptions. The real test begins once you start your work, If these assumptions stand then it is a fairy tale story if they fail, which is the case in 90% of scenarios then you enter into serious trouble.

Solution:

As we prepare for our exams, we need to do the same preparation for our startup. MOCKUP TEST. Before you enter full-fledged into your Unicorn Startups try to do the same business as part-time or after office hours.

Practicality holds more importance than theory. You need to find a balance between both before you go ahead. Here are a few questions that these startups didn’t answer before starting:

  1. How to launch,
  2. Where to get the initial traction,
  3. How to convince your first client,
  4. How to deliver the service that you promised
  5. What is your operational cost,
  6. How much should you charge
  7. How much savings will you need? (Worst case scenarios)

“Money to startup is like petrol to a bike. It is not the most important thing but it is damn important.”

Improper Cost Calculation is by far the most common reason for all the failed Unicorn Startups around the globe. There are many founders who completely overlook the cost calculation matrix while the smarter ones highly under-calculate the expenses.  In simple terms ‘Money = Business’, however, the reverse may not be true.

What happens?

In a startup, there are many more expenses than what meets the eye. Due to a lack of experience or guidance founders often miss many expenses which a startup inculcates. As a result, all the follow-up calculations prove to be ineffective and the startups end up missing the targets by a huge margin.

Solution:

Practically it is not possible to come up with a perfect number for your expenses as there are many variables and many other unexpected expenses. Hence the idea is to be as close as possible and unearth as many possible expenses as possible. Some of the most missed expenses are:

  1. Founder’s Salary, company’s salary, Employee’s Salary, and your profit are all separate entities,
  2. Employee Birthday celebrations, Festive celebrations, etc, are all your monthly costs,
  3. Meeting with clients
  4. Travel and food expenses
  5. Daily tea and coffee expenses
  6. Rent, electricity, Office cleaning, etc

“Expanding a startup is like a ball rolling downhill; It won’t take long before it runs out of control.”

Unless you keep a check on the ball you may soon lose control over it. Expanding is something that is always there in the TO-DO list of the founders. Every day they contribute some effort to make sure they are reaching out to new potential customers and expanding their reach.

What Happens?

While trying to expand we make a lot of decisions and the workload on everyone in the team increases which creates pressure. Each market and each customer is unique in itself and if the founder expands too rapidly, they have too many decisions and too much data to analyze in a very small time. Resulting in decisions made in haste and unplanned growth, which results in mismanagement and loss of many and quality of service. Eventually, the customers will take notice and stop using the company’s services/products. Hence showing a great initial response, followed by operations being shut down completely within months.

Solution:

Good management is a very crucial part of keeping any business successfully operational. To set up good management you need 3 things Right People for the Delegation of the task, Time to Absorb Market Trends, and a Pre Planned Road Map. Some of the executable strategies for rapid growth are:

  1. Minimizing surprise factors by studying the new market,
  2. Discovering the key roles and people capable to handle those roles,
  3. Breaking growth in measurable matrixes,
  4. Defining a process to keep track of the matrixes,
  5. Frequent communication and constant support to the team
  6. Last and probably the toughest, not being greedy, knowing when to slow down and say a NO.

Learn from Dominos and always deliver your “pizza” on time. Damn, I miss my Free Pizzas.

It might come to you as a surprise but about 74% of projects miss their deadlines across domains around the globe. Things are always easier said than done. In order to convert a lead or kick-start the project, the companies often agree to the demands of the clients without ensuring that the company will be able to meet the client’s expectations and deliver on time.

What Happens?

Each client is new and their demands vary in some form from one another. For one reason or another other Salespeople at times agree to things that may be out of scope or for lower prices. These decisions impact the product/services at the later stages which creates a hostile environment for the client and company both. Clients’ launch plans are now seriously affected and the company is now starting to deplete their profits and sometimes even inculcate losses. Possible reasons for such a scenario are the Unrealistic Sales target, lack of awareness/knowledge of the people closing the deals, and improper management.

Solution:

As a founder, you need to make sure a concrete process is put in place which ensures that appropriate features, costs, and timelines are being assigned to each product/service. There are quite a few ways to do so.

  1. Commit X days to the client and give a target of X-30% to your team for finishing the task.
  2. Discover your expenses and make a custom formula to calculate the project cost,
  3. Make dependencies for signing the contract so that at least 1 more person validates the deliverables and timeline.
  4. Clearly tell the client about the limitations and challenges
  5. Keep everything documented and signed,
  6. Setting realistic Targets, in case of failure try to understand the reason,

You can’t charge for copper and deliver gold

Most Unicorn Startups/companies struggle to charge the right price for services/products. No 2 startups/companies delivering the same service/products could have the same cost. Cost depends upon a lot of factors like City, location, management, process, team, etc.

However, clients have a habit of comparing your cost with the other vendors.

What Happens?

Clients compare your cost with other competitors and make you look bad for the rates you are charging. It can be tough to explain to them why you are charging them these higher/lower prices and the effort it takes to deliver the quality you offer.

Solution:

Clients generally don’t have a problem paying you good money if they are sure about your services and quality of work. So all you need to do is win their trust. The best example is Apple’s iPhone, everyone knows that if the manufacturing cost of an iPhone is $400 then it will be sold for $1200 in the market, yet customer stands in line and waits for days to get their hands on it.

  1. Prove your quality before taking client’s money, Free Demos
  2. Create a name in the market,
  3. Showcase your portfolio,
  4. Create processes to ease communication and tracking
  5. Keep transparency
  6. Not everyone can afford you so learn to let go,
  7. It is better to have 1 client at the right cost rather than 3 clients with under margins

Have an app Idea

Why do Unicorns Fail?

Unicorns, which are startups valued at over $1 billion, have been the darlings of the tech industry in recent years. But what happens when these unicorns fail? What causes them to go from being a successful startup to a failed one?

We’ll explore why some unicorn startups fail and what we can learn from their mistakes. We’ll look at some of the most famous unicorns that failed and analyze what went wrong.

Some of the most common reasons include poor market fit, lack of a sustainable business model, intense competition, inability to scale, and poor execution. Additionally, many unicorns are overvalued and rely heavily on fundraising and acquisitions for growth, making them vulnerable to economic downturns.

How Many Unicorns Failed?

It is difficult to say exactly how many unicorns have failed, as the definition of a “unicorn” can vary and the term is often used informally. Additionally, some companies that were once considered unicorns may no longer meet the criteria for being a unicorn but are still considered successful companies. That being said, it is estimated that a number of unicorns have failed or struggled in recent years, particularly during the COVID-19 pandemic, which has had a significant impact on the global economy and startup ecosystem. In 2020 and 2021, there have been several examples of unicorns that failed or struggled, such as WeWork, Juul, and Uber.

How can other startups learn from the failures of these unicorns?

Other startups can learn from the failures of unicorns by studying the mistakes and challenges that led to their downfall. They can identify potential risks and develop strategies to mitigate them. They can also learn from the failed unicorn’s approach to scaling, competition, leadership, and market adaptation, and develop their own strategies accordingly. Additionally, startups can seek out mentorship and guidance from successful entrepreneurs who have navigated similar challenges. By learning from the failures of unicorns, startups can increase their chances of success and avoid making the same mistakes.

What can be done to ensure that similar failures are prevented in the future?

There are several steps that can be taken to ensure that similar failures are prevented in the future:

  1. Conduct thorough market research: Startups should conduct extensive market research to understand the needs and preferences of their target customers, as well as the competitive landscape. This can help them identify potential risks and develop strategies to mitigate them.
  2. Develop a robust business model: Startups should develop a business model that is sustainable, scalable, and adaptable to changing market conditions. This can help them navigate challenges and capitalize on opportunities.
  3. Have a solid execution plan: Having a clear and detailed execution plan that outlines the steps to be taken to achieve the desired outcomes will help the startup to stay on track and avoid mistakes.
  4. Focus on the long-term vision: Startups should focus on the long-term vision and not just the short-term gains. This can help them to stay focused on the big picture and make strategic decisions that align with their goals.
  5. Seek out guidance and mentorship: Startups can benefit from seeking out guidance and mentorship from successful entrepreneurs who have navigated similar challenges. They can learn from their experiences and avoid making the same mistakes.
  6. Flexibility and adaptability: Being flexible and adaptable to market changes is key, startups should be able to pivot their strategy if needed and adapt their business model to changing market conditions.
  7. Strong leadership and management: Having strong leadership and management can help startups navigate challenges and make strategic decisions that align with their goals.
  8. Be aware of industry trends: Keeping an eye on industry trends can help startups anticipate market changes and adapt accordingly, avoiding being caught off guard by sudden shifts in the market.

Conclusion:

After studying the Rise and Fall of this startup it became evident that your products and your services are always the backbones of your company while other things like Resource Management and cost calculation are the supporting pillars.

Here are some of the most popular ways to estimate your cost and Finances

1) Create an excel sheet with the monthly cost for each employee,

2) Make a list of all the expenses and break it to monthly. Include salaries, tea, coffee, client meeting bills, office celebrations, everything.

3) Break down your service in working day (not Calendar),

4) Add markup to your base cost. (profit)

5) Profit, your salary, your company’s salary, and your employee’s salaries, they all are different don’t mix it up with your markup.

How to decide markup:

It depends on your experience and how well have you proved yourself in the market. Don’t be greedy. Don’t fill your personal bank from the company’s extra cash. This cash will help you sustain on bad days. Lastly, you won’t be perfect in the calculation but the aim is to be closest. Let’s increase the startup success rate.

If money is the only thing that makes startups successful then none of these Unicorn Startups would have shut down. Hence focus on your delivery and commitments. Happy clients are the real reason for success irrespective of being funded or otherwise.

I hope it helps, let’s improve the Unicorn Startups’ success rate together.

To know more, you can contact GraffersID, the best offshore software development center, to streamline your software development process and meet targets easily.

Frequently Asked Questions

1) What are “unicorns” in the context of failed startups?
Unicorns refer to privately held startup companies that have reached a valuation of over $1 billion. In the context of failed startups, “unicorns that failed” are companies that, despite once being highly valued, ultimately faced significant challenges and ultimately did not achieve long-term success.

2) Why did these unicorns fail?
Unicorns can fail for various reasons. Some common factors include poor business models, mismanagement of funds, fierce competition, changing market conditions, legal or regulatory issues, lack of market demand, internal conflicts, and failure to adapt to evolving consumer needs.

3) Are failed unicorns exclusive to any particular industry?
No, failed unicorns can be found across various industries. They span sectors such as technology, e-commerce, finance, transportation, and more. Each industry has its own unique challenges and factors that contribute to the success or failure of startups.

4) Can you provide examples of well-known unicorns that failed?
Certainly! Some examples of well-known unicorns that failed include Juicero, Theranos, Jawbone, Quibi, and Fab.com. These companies were once highly valued and hyped but faced significant obstacles that led to their downfall.

5) What can we learn from these failed unicorns?
Failed unicorns provide valuable lessons for entrepreneurs and investors. They emphasize the importance of sustainable business models, proper market research, effective leadership, and adaptable strategies. Understanding the reasons behind their failures can help entrepreneurs make better-informed decisions and investors identify potential risks.

6) Can failed unicorns ever make a comeback?
While it is rare, failed unicorns can potentially make a comeback. In some cases, failed companies have been acquired and restructured, allowing them to re-enter the market successfully. However, the chances of revival are relatively low, and it requires a significant shift in strategy, leadership, and market conditions.

7) What impact do failed unicorns have on the startup ecosystem?
Failed unicorns can impact the startup ecosystem in several ways. They may lead to decreased investor confidence, especially in similar companies or industries. However, failures also provide valuable lessons and insights, contributing to the overall learning and growth of the ecosystem.

8) How can entrepreneurs avoid the fate of failed unicorns?
Entrepreneurs can increase their chances of success by conducting thorough market research, validating their business ideas, building a strong and experienced team, seeking mentorship, being adaptable to changing circumstances, managing funds prudently, and staying focused on long-term sustainability rather than short-term hype.

9) Is the concept of unicorns still relevant despite failures?
Yes, the concept of unicorns as highly valued startups is still relevant. While some unicorns fail, many others have achieved tremendous success and become significant players in the business world. Failed unicorns should be seen as cautionary tales rather than an indication that the concept itself is flawed.

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Behavior Driven Development: Meaning, Process, and Examples

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In simpler terms, BDD (Behavior Driven Development) is a software development process to ease up communication and fill the gap between technical people and business people. Supported by Cucumber, the BDD fills communication gaps by encouraging mixed collaborations in different roles to offer a shared understanding of the problem, working in small and fast iterations to improve the flow of value and producing system documentation that is auto-corrected by the system’s behavior.

The following guide is an introduction to BDD and the meaning and process involved in this framework. The guide will also be stating the benefits enjoyed by all-sized businesses using BDD and how to implement this structure without errors.

The Communication Gap In Digital Projects

When launching a new digital project, communications can not always be easy. Because the people developing it are highly technical, there might be slight communication errors between technical people and business people.

Such disconnect might arise between the business in designing desired technical outcomes, developers understanding the business needs, and businesses understanding the technical challenges.

Behavior Drive Development can help you channel these problems and achieve all of the above. In short, this development method allows the business and technical team to work together and meet the desired goals in time.

What Is Behavior Driven Development?: The Meaning

Software development is often associated with overwork which can also mean wasted time and effort for engineers and business professionals. The lack of communication and technical complexities can be challenging for the business professionals to understand their technical team’s limitations and for the technical team to understand and evaluate the business professionals’ expectations.

As a result, software development is often shrouded in miscommunication, where the end product might not always meet the exact requirements and expectations of the businesses. With a Behavior Drive Development framework, this can be changed. 

In exact terms, BDD is a development process that aids the management and delivery of a project by improving the communication between business professionals and the technical team. BDD, thus, ensures all developers meet the company’s expectations and that companies understand their team’s limitations. 

Read Also: Platform For iOS And Android App Development

Benefits Of Behavior Driven Development

Benefits Of Behavior Driven Development

BDD can be a great way to face all limitations and communication gaps between the team and businesses and improve the software development process. Here are some of the most common benefits of Behavior Driven Development. 

  • Development goals can be tracked to core business objectives. 
  • Software development is able to meet the user needs that the business aims to cater to. 
  • BDD keeps all processes around critical features, business objectives, and prioritizations. 
  • All parties share a common understanding of goals and projects. 
  • BDD offers the use of shared language that enhances communication. 
  • It leads to the building of software designs that matches current and future needs. 
  • It also allows for improved coding quality and saves the cost of maintenance, and reduces risk. 

If we talk about overall work, BDD’s work and approach can be divided into two different parts. The first one is the practice of using examples written in ubiquitous language to illustrate behavior. The second part is the usage of examples on the basis of automated tests. So, in addition to ensuring proper functionality of the user, BDD also provides proper working of the systems as defined by the business through its projected lifespan. 

A behavior-driven development framework ensures that business values and user requirements never come second. 

If we talk about origination, BDD was introduced by experienced tech and organizational consultant, Dan North, from London. The fundamental goal behind this was to ease the communication between testers, developers, and business professionals. 

Behavior Driven Development Process: The Core Fundamentals

Behavior Driven Development Process

Here are the key features involved in the process of using BDD. 

Starting With a Goal

In the simplest form, software development is just a way to automate human behaviors by replacing or creating them. Every behavior change can allow the business/company to accomplish its goals, like increasing revenue or improving usage. 

When it comes to BDD, projects are accomplished in terms of set capabilities. These capabilities are software development features that allow users to be more efficient and meet all tasks on time. Some examples of capabilities can include automating warehouse management or automating order booking for an e-commerce business. 

To meet the requirements established by the business, you must determine the software you can use to achieve these goals. These goals are called business goals in BDD. 

The business goals you set must be SMART (Specific, Measurable, Attainable, Relevant, and Time-bound.) Here are some examples of establishing a business goal. 

Poor Example: We want to generate more revenue by improving sales. 

Good Example: We plan to achieve a 15% increase in revenue through online platforms within six months. 

Having a SMART goal not only allows you and your team to work correctly and improve productivity but also allows businesses to measure the impact of an accomplished goal. 

Impact Mapping 

Once you have set a business goal with a predictive timeline, the next step is to plan how to achieve it. When it comes to software development, specific goals can easily be accomplished by adding a few features to the application. However, you need not always add plenty of features to the software. This is perhaps the number one reason why most software developments lead to failures. Developers should add features that will support users’ experience. 

Moreover, while software might include hundreds of features, not all features require the same attention, detailing and care. Developing every single feature closely can cost you a lot of time. Instead, focus on core features. 

Impact mapping is a practice for managing a project roadmap and setting potential for the actually needed features. In short, impact mapping is a way that allows you to decide the alternative measures you can use to accomplish a goal. And the only way a software development can come closer to achieving a goal is through supporting human behaviors. 

Impact mapping is one step above conventional mind mapping. The process includes four different levels that contain business goals, one actor, one impact, and measures to support/prevent these impacts. 

To start impact mapping, always start with business goals. Then you identify the actors, like the customers of the business for whom these goals need to be accomplished. These actors might help you or prevent you from achieving the goal. Moreover, they might have several ways to hinder or soothe the process of goal accomplishment. 

The last level is identifying how the delivery team can support or prevent an impact. 

Complexity and Value Analysis

When working on a behavior-driven development framework, it is highly important to distinguish priorities. This can be achieved using two techniques: value analysis and complexity analysis. Value analysis helps developers identify low-cost and high-cost features in software development. Complexity analysis, on the other hand, helps you choose the right development approach for individual features. 

Cynefin, a complexity analysis BDD framework, is a sense-making tool that helps developers understand the problem and work towards it accordingly. Developers using BDD can use Cynefin to identify high-priority features and other features they can reuse from open-source libraries. The framework can be used for strategic planning and ensuring the usage of exemplary examples. 

Planning in Examples

It’s often difficult to describe the most complex ideas in simpler terms to avoid any miscommunication or wrong expectations. And, communications shrouded in misunderstandings can lead to overwork or waste of effort. This can lead to an environment where the technical team keeps delivering goals that do not meet the expectations set by the company or business professionals. 

So, what is the easiest way to eliminate miscommunications? We say to use examples. In fact, understanding through examples is the earliest source of understanding kids go through every day. 

For instance, if a team is assigned a task to add an “include VAT and delivery cost to the total order price” feature, you can use certain examples to understand the expectations of the business you are working with. 

Usage-centered Designs 

To build software that actually matters, you’ll need to understand you will use it and why. In short, you would have to analyze the use of that particular software. Usage-centered design is a design approach where software is developed by keeping the users’ patterns and intentions in mind. In technical terms, users are grouped into abstract actors who interact with the software. 

Usage-centered designs are the most critical aspect of BDD. Understanding the user needs can allow developers to build software that will actually cater to the needs. After all, understanding user behavior helps develop better software and meet all the needs. 

Ubiquitous Language 

When a team of technical and non-technical people is involved, communication is often complex. For instance, if a team is supposed to build a banking app, developers might be required to add the account feature. However, if they do not have enough interaction or experience with the business, the team might assume the account feature is a user management feature or user accounts feature. 

If the miscommunication persists, the development team might spend long weeks in the development process that will never meet the set expectations. In this case, this problem is called the “cost of transaction”. 

With BDD, you can eliminate this problem by reducing feedback loops’ size and enforcing an example-based understanding for each needed feature. However, using examples might not suffice. Both sides will require a common language to communicate. Ubiquitous language, a concept borrowed by DDD, is a language created by the development team and business to ease the conversation flow. It is a mixture of business and technical language. This is a crucial part of BDD. 

Read Also: The Importance of Effective Server Management

The Three Amigos 

The most common mistake the development team makes is assuming that writing down the provided examples is important and assigning this responsibility to a single person. However, you must note that Behavior Driven Development is a highly collaborative way of development. This means, that writing down examples won’t suffice. The development would require the flow of different experiences and perspectives as well. 

The three amigos: a business person, a developer, and a tester can solve this problem. A business person like a business analyst or product owner holds dominance over their industry. They can provide important insights to the development team using their experience. 

Developers offer solutions to the respective business person. They usually belong to the “solution” space. 

Testers, on the other hand, belong to the “problem” space. They identify flaws before development commences. These three are the core of BDD. 

Behavior Driven Development: A Few Examples 

Examples stated in formal language are always easy to automate. This means you can outsource an example to an automation tool like Cucumber and allow it to provide automated specifications. These specifications can then be used by the developer for application development. 

Here’s an example for a better understanding: 

Scenario: 

All refunded items should be returned to stock. Like if there are four stockings in stock and a customer returns two stockings, the store should state a total of 6 stockings. 

For this, developers can use a simple text matching algorithm at each step inside the scenario added with a programming instruction that would automatically check the step premise by understanding described behavior. This would create an executable specification while rendering an effective regression mechanism. 

Loops In Behavior-Driven Development 

Regardless of the technology, platform or language, you are using, one thing that remains constant throughout is the need for software to constantly adapt. With recent market changes, technical changes, and business outlook changes, the software must adapt well to ensure all user needs are met. 

For this, current development projects must adapt to scenario-based test-driven technologies and development. However, this alone will not be enough. 

To support slow growth and changes, software needs to adapt drastically and much faster. For instance, while optimizing a car for better performance, the team should be able to observe and impact individual features and elements of how it drives. In terms of BDD, this is called unit testing. It is a way to support significant changes in the behavior of the application. 

In technical terms, these unit tests are small code threads that evaluate an isolated part of the system. To be particular, this thorough testing in BDD is called object specifications, where small isolated parts are treated as examples and are evaluated on how they react with the overall system. 

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5 Actionable Steps to Develop a Successful Software Startup from Scratch

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Entrepreneurs allured with the vision of creating a lucrative and successful business. They seek out unique and powerful business models, strategies to mark their footprints in the software landscape. Every innovator looks forward to delivering a productive and bankable product or service. In return contributing to the rapid growth of Software startup all across the globe every year.

Did you know?
According to Global Entrepreneurship Monitor’s (GEM) massive statistical research, 137,000 startups are introduced in the market every day with estimated 120,000 startups eliminated each year.

If you follow the statistics, a tech startup’s success rate is one-fourth of what its failure rate is.

I would say, don’t believe the statistics!

If you are passionate enough for your software startup, just understand what it takes to outlive the chances of falling flat.  To develop interactive software you can hire GraffersID as your software development partner.

In this article will lay light on all the highs and lows, positives and negatives, strategies, and techniques to establish a successful software startup from scratch.

So, let’s begin!

How to build a successful software startup from scratch?

Consider these 5 steps to form an effective trade in this growing industry:

Step 1- Market research

For a software startup to generate profits, you’ll require a market that is prepared for the idea and technology, software that solves the pain points of the clients, and appropriate pricing that the market can afford. A large number of startups fail because of a poor product/service-market fit, hence, making informed choices that get along with the market requirements is very crucial.

Specialists claim that market research is one of the first vital steps while developing a startup.

What if you don’t undergo market research?

Many entrepreneurs are confident enough that they are going to deliver the right services to the market, but fail because of a poor market design strategy.

I am not saying don’t be confident, but follow the crucial steps!

Being confident is the key, but only if you are unlocking the right door. If the market is wrong, your product cannot win hearts and give you conversions.

What are market research types?

What are market research types_

While market research has different types, based on the type of business you are targeting. Here are a few market research types-

  • Primary or secondary market research
    While primary research is collecting information yourself from various sources. Analyzing current sales volumes, metrics, and customers, secondary market research includes collecting data prepared by third parties like reports and study analysis from other entities from the same niche market.
  • Online and offline research
    A blend of both, online and offline research, delivers the most accurate market analysis. Online research gives out information in free and fast whereas offline research provides more in-depth results and access to information sources.

You can also take the help of Surveys, Interviews, Focus groups, and social media according to your budget and time, to ask the audiences what they think of the product/services.

Read Also: 12 Key Considerations Before Setting Up an eCommerce Startup

Step2- Proof of Concept

Proof of Concept

Although everyone is convinced with their idea and its problem-solving features, creating a proof of concept to analyze and test your idea and see if it can be followed in the real-world is important. Another benefit of proof of concept is, it will help you gather stakeholders’ trust that’ll convince them to invest in your idea. The process of “proof of concept” follows these steps-

1. Demonstrate the Requirement

It’s very important that the software you are investing your energy in, is actually on the customer’s needy list. It’ll be all for nothing if you aren’t sure that the audience needs the software.

2. Outline Pain Points and Gather feedback

Do some brainstorming to map out the pain points and determine how your software stacks up to relieve those pain points. When you are ready with a list of solutions, put those solutions in front of the stakeholders and potential users to know what they think and how they react. They might suggest an additional feature that makes your product/services more valuable.

3. Solution Prototyping

Your following step is to make a model that wraps your solutions into a simple item that you just can utilize to test with those you met already. This model ought to have the anticipated highlight set and UI/UX.

Once the model is built, test it together with your interviewees for extra input. Record their utilization of the item to track how instinctive the interface truly is, and discover it in case you ignore any critical usefulness.

4. Minimum Viable Product Creation

An MVP is a fully functional solution that is different from prototyping. It incorporates the most important highlights that are basic for tackling the essential torment focuses you distinguished. It ought to work on the user’s side rather like the ultimate item.

5. Roadmap Construction

From all of the data you’ve assembled in each of the past steps, make a guide that depicts what you’ve learned and diagrams a prescribed step-by-step handle for building the item. Think of this guide as a set of diagrams for developing a building. With this guide as a direct, everybody will be kept on the same page through item improvement and will have a clear picture of what the conclusion objective is.

Read Also: 5 mistakes a start-up makes when building an MVP

Step 3. Getting Associates and Partners

Getting Associates and Partners

It is not possible to overestimate the value of collaborators, investors, teammates, co-founders of partners, remote developers, and the likes of a start-up company. You will need the support of others for the staggering success of a start-up venture. You can go easily alone, but together you can go faster.

Forging alliances and collaborations that can help you make the most of your new company or start-up project is important. You might need to find a technical co-founder who can handle the software team and work with them. An entrepreneurship experience can be an emotional rollercoaster trip, but you don’t just want a technical co-founder to be chosen randomly. Do not begin by inviting unknown individuals to be your co-founder of the methodology. Take the time to consider others, recognize them and first make sure the two sides feel happy.

Starting a new startup venture is challenging. Maintaining enough cash in your budget to keep your doors open is no easy feat, from ordering equipment and loading up on inventory to handling payroll and renting an office. But there is one way by which you can accept this challenge with confidence, getting an active investor!

An active investor is knowledgeable of the organization and can be actively engaged in most processes, particularly in areas of the company that includes sales and profitability.

According to the NSBA Economic Report, 27% of small businesses are unable to access adequate funding.

Hence, it is almost difficult to expand your small company without good finance behind you!

Step 4.Offering Easy Entry to Customers

Offering Easy Entry to Customers

Initially, it’s incredibly difficult to get traction. Most individuals are not chomping at the bit to spend time studying and saving money on new technologies to incorporate it. Create a blueprint on how you can get the first consumers on board. Consider a free offering for trial users, free updates, or a discount cost. For users who put friends aboard, you may even create rewards.

Another way to reduce the entry barrier for a SaaS product is to ensure that you deliver a selection of subscription levels that can cover the needs of all customer classes without asking them to pay for features that they do not require.

You should have a customer success team that monitors the customer’s usage levels, gives them quality notifications and satisfaction reviews. Among other items, invites them to customer-advisory board meetings. The client-success team should also be educated and willing to market.

Read Also: Which is Cheaper: In-House Team or Remote Developers

Step 5. Constant Software Testing and Analysis

Constant Software Testing and Analysis

The universe travels swiftly. Technology moves, behavioral habits of people change, new variables affect the desires of consumers. Thinking that the product has landed, you can’t afford to get complacent. Still pushing for improvement, keeping an eye on evolving trends. How the product has to react and change as a result. What you don’t calculate, you can’t adjust, so build a daily routine.

If you analyze key metrics, you will know what: features do not resonate with users anymore, new features users require, and features the app needs to keep up with the ecosystems of users. This insight will also help you strengthen your content.  You will understand, what is most important to consumers and how they interpret the benefit they get from your product specifically.

Hence, it is necessary to identify tests continuously (whenever possible with A/B testing) and, after making adjustments, track the successful progress.

Read Also: Boost Your Start-Up Cybersecurity with These Powerful Tips

Final Thoughts

There is a lot of stuff you should know if you want to create a software start-up from scratch. Let’s be frank, there is no right road to success for start-ups. Everything I can do is provide you with advice as to what you need.

If you aren’t sure about getting started, consult a trusted mobile app development company in India. They will understand your software startup requirement and make sure that you don’t leave any gaps behind.

12 Key Considerations Before Setting Up an eCommerce Startup

Posted on by GraffersID

E-commerce is taking over the digital world with its wide range of opportunities and there is no reason why you should not think of setting up an eCommerce startup!

If you are planning to start your eCommerce business or expand your brick-and-mortar business, this article will help you understand how eCommerce is an innovative and growing platform to be on.

But first,

What is Ecommerce?

E-commerce or electronic commerce refers to buying and selling of products and services through the internet. E-commerce is an activity of running an online business by facilitating every commercial transaction with the help of the internet.

Why Choose E-commerce for Your Business?

Everybody wants a strong client base and a skyrocketing sales number and for that, they work hard!

Well, obviously hard work is the key to success but what if I tell you, you can work from your home and still get the above two by just using the internet?

Yes, it is possible in this digital age!

Your brand can now reach a huge audience and potential customers and experience an increase in sales by building a business-oriented eCommerce mobile application or an eCommerce website.

According to Global E-Commerce Trends and Statistics, E-Commerce has grown by 300% over the last few years with revenue of $700 billion in the US just last year and is expected to grow at an even faster pace and is predicted to hit $4,878 billion in the next few years.

DID YOU KNOW?
2020 saw a 20% hike in the revenue from digital commerce in all business models and industry verticals that too in just the first quarter!

How to Get Started With E-commerce?

You can kickstart your eCommerce venture and have a digital business shift by either creating an eCommerce website or developing an eCommerce mobile application. If you know coding then code your website, If not then you can hire eCommerce developers.

The eCommerce industry is witnessing tremendous growth of business mobile solutions because of their ease of use and vast audience base.

According to Pew Research, every 8 out of 10 Americans use mobile applications for making a shopping purchase.

Huge brands like H&M, Starbucks, and Walmart use eCommerce mobile applications for connecting easily with their audience and serving them with efficiency.

E-commerce has always been an advantageous platform and with the Covid-19 outbreak, the buzz around eCommerce increased all over the world.

The recent explosion in online interest has created amazing opportunities for all the sellers out there and today we will discuss how to leverage those opportunities and tip the profit scales to your side.

As you know, skills, require dedicated eCommerce developers who ensure your eCommerce business runs smoothly and efficiently and that is why I am here with my key considerations that would help you while setting up your eCommerce startup.

So, let’s dig in!

1. Your Idea

Your Idea

Your idea is like a base for your business foundation!

The stronger the base, the more it’ll grow.

With high demands comes high profits and your product idea should not just be fancy but should be a problem solver too.

One common mistake that people often make while getting started with their eCommerce venture is mimicking other people’s profit-generating products and copying them to generate profit for themselves!

Good competitor research is a must but don’t let your uniqueness get affected by others. If you are confused about your product idea, take a survey, consult your family, ask your friends if as customers they would be attracted to your product and only then make a decision.

Your product or services don’t even have to be unique, just something that suits your demographics and provides the best quality at an affordable range.

People love that!

As much as idea validation requires surveying, hypothesis, and consultations, it also requires the right type of tools to be used to keep track of your validation process.

Here are 3 idea validation tools you can rely on-

a. Validation Board

A validation board can help you understand customer problems and provide a solution hypothesis based on testing, learning and pivoting. It helps in identifying how real the assumptions made about your idea are and how you should proceed with your idea.

b. Customer Journey Maps

Customer Journey Maps is basically a visual representation of your journey until you reach your goal. This tool helps you understand clients’ needs and how your product idea can help fulfill those needs and other areas of weakness in the industry.

c. Germ.Io

Germ.Io helps in converting your abstract ideas to properly formed concepts and actionable project plans. It helps you build an entire flow of thoughts around your idea through effective brainstorming techniques.

2. Your Business Model

How do you want your eCommerce store to function?

What would your business structure look like?

One single business model doesn’t fit every business because everyone has a different reason to start an online store. It mainly depends upon the product that you’d be selling and that is why “your idea” is what is going to make your future decisions for you.

Having a business model can save you hard-earned money and give you a clear picture of your soon-to-launch business.

Here are 4 eCommerce business models that you can choose from-

a. B2C – Business to consumer

It is the most common business model with many unique approaches under its umbrella. B2C gives an advantage of leveraging technology like mobile apps, native advertising, and remarketing to market directly to their customers by making the process much easier than B2B.

b. B2B – Business to business

In this business model, one business sells its goods or services to other businesses which the buyer resells further to the consumer.B2B has become a popular business model among millennials as according to trust radius’s annual survey , over 45% of B2B technology buyers are 25-34 years old’s.

c. C2B – Consumer to business

In the C2B business model, individuals sell their goods or services to businesses or companies. One very popular mobile application made upon this model is UPWORK, where freelancers sell their services to other businesses.

d. C2C – Consumer to consumer

In the C2B business model, consumers exchange each other’s goods and services and make money by charging transaction fees. E-commerce platform eBay pioneered this business model in the early days of the internet.

Hence, to avoid getting stuck in between your dream venture, get an eCommerce business blueprint and if you’re not sure how to make one, drop us an inquiry and our expert team of e-commerce domain will help you with relevant suggestions.

3. Your Target Audience

Your Target Audience

So, where are you planning to sell?

Who will be your target audience?

Will it be the people residing in the same town or people worldwide will have access to your product and services?

This surely is a topic of concern but hey, you can’t figure out things in a day, you will get it all if you follow your plan and get the things implemented correctly and on time.

Now, understand this- We only need relevant traffic!

The more targeted visitors we have to our website the better would be our sales. And we love high sales numbers, don’t we ? 🙂

All you need is 500 potential buyers for a start. Hence target strategically for your startup, don’t let the audience number influence you.

If suppose you are selling sports shoes, sports enthusiasts will be your primary target audience followed by gym freaks and regular shoe lovers and buyers.

Like this, figure out who you want to target to save everyone’s time and energy.

4. Your Niche Research

Quick niche research can do wonders. Make sure the niche you’re entering is competitive.

No competition means no demand and hence no value!

Have a look at your competitor products and their target audiences, how they are making things work out and get an inspiration set or yourself.

Your niche research will help you fill gaps between your business strategy and help you improve your business model.

Niche-ing out gives you a front seat at the eCommerce ride as you can figure out other related categories in that niche and collaborate with the other business owners to cross-promote your products and services.

How can you do your niche research?

Well, you can start off with these simple steps-

  • Market study ( Google is your savior)
  • Keyword research( You can use Ubersuggest)
  • Competition research( You can use SEMrush)
  • Look at the most popular businesses ( Walk the Neighbourhood)
  • Track the trends( You can use Google Trends)

5. Your E-commerce Registration 

With all the above-mentioned points in consideration, you can now register your eCommerce business and pick a name that goes with your persona or what your products represent and an eye-catching tagline that goes along with the brand name.

Example of some of the successful startup eCommerce stories have names as-

a. The Healthy Mummy – Weight Loss Resources & Products for Mums

An eCommerce platform for all the mums around the world

b. Beardbrand – Shaving & Accessories for the Bearded Gentleman

An online beardsman community for all who love styling their beard

c. Rent the Runway – Designer Dress Rentals / Subscription

Rent the Runway lets you rent designer outfits for a period of time.

From the above three examples, you can see how you should go with your name and tagline.

Not too long, not too short, just the perfect words that represent what you sell!

6. Your Inventory & Payment Gateways

What range of products are you going to sell?

How many variations will each product have?

There are a lot of things to take care of for an eCommerce inventory setup. You need an inventory to manage all of your product stock to keep a count of the most sold products and out-of-stock products.

Stock tracking will help you get ahead in your game by avoiding frustrated customers who find out the product is out of stock after they reach the checkout page.

For a fully functional eCommerce website, you should have a payment gateway. After all, getting paid is a prior interest!

Providing a safe payment option always helps in sealing the deal. Shoppers look out for convenient payment options (Online as well as COD) in order to finalize their shopping decision. Payment gateways make sure that the customer data is safe and encrypted making it an authoritative transaction.

There are tons of options available for online payments and the top payment gateways are-

  • Helcim
  • Payment Depot
  • Square
  • PayCafe
  • The Merchant Solutions
  • Stripe
  • Paypal
  • Apple Pay
  • Leaders Merchant Services
  • ProMerchant
  • Google Pay

7. Your Order Tracking Software

Considering how huge the eCommerce landscape is, there is a lot of order tracking software you can go for. Order tracking software would allow your customers to track their orders and modify their orders at every stage of buying.

Automatic emails after purchase are also important to let the customer know that their order has been placed successfully.

You can also integrate order tracking with shipment to know real-time order status as well as shipping status in your eCommerce modules while saving a lot of resources.

Some popular order management software includes OmPrompt Order Management, TYASuite, Orderhive, Zoho Inventory, etc.

8. Your Shipping & Returns Management

For shipping management, you have to tie up with several shipping services for your targeted locations. Implementing a strong eCommerce shipping strategy can do wonders to your brand, and take it to infinite heights!

Managing returns can be a little disappointing as, who likes getting their products returned anyways?

But providing your customers with refund and return options convinces them to at least try your product.

When people see you have a legit return policy, THEY WILL MAKE A MOVE!

And a move is what we want after all.

9. Your Programming and Content

Only high standards of programming can deliver a sophisticated eCommerce platform that is fancy as well as simple and easy to use.

Content is king and that is why you need the best words to make your eCommerce dream come true.

You need to have a functional eCommerce storefront for content optimization, conversion optimization and performance optimization. You will be needing an excellent team of eCommerce developers to perform all of these optimization techniques efficiently.

10. Your Visuals

Trendy features and fancy visuals play a very important role in the success of eCommerce sites. Get a logo designed by professionals by describing your product and services.

You don’t need to obsess over it but make sure no other corporation uses the same logo. Pick fascinating colors that do justice to your eCommerce website and attract more and more audiences.

If you’ve got a decent budget, you can always acquire professionals for your website appearance. If not, you can create it on your own by learning some designing tactics that’ll boost your online presence.

11. Your Business Marketing Plan

A business marketing plan is a post-launch activity that will help you bring audiences and drive traffic from various platforms.

  • You can take the help of various social media platforms for getting the word out.
  • You can share articles and blogs on your eCommerce startup and share it on high D/A, P/A websites.
  • Strong search engine optimization tactics will help you get relevant traffic and fast promotions.

Finally, make sure your customers leave good reviews on your website. Positive reviews not only bring more and more customers to your platform but also helps you establish a strong name for your brand in your niche.

12. Your eCommerce Development Team

For creating and running an eCommerce startup, you will be very much reliant on technology and that is why you need to hire the best eCommerce developers from India to help you kickstart your dream venture.

Must Know Tips Before Starting E-commerce Startups

Starting an eCommerce startup can be an exciting and rewarding venture, but it also requires a significant amount of planning and preparation. Here are some key considerations to keep in mind before setting up an eCommerce startup:

  1. Identify your target market: Understand who your customers are and what their needs and preferences are. This will help you to develop a product or service that meets their specific requirements and to create a marketing strategy that effectively reaches them.
  2. Develop a business plan: A business plan will help you to outline your goals, strategies, and financial projections for your startup. It will also serve as a roadmap for your business and help you to secure funding from investors or lenders.
  3. Choose the right eCommerce platform: There are several eCommerce platforms available, such as Shopify, Magento, and WooCommerce. Each has its own strengths and weaknesses, so it’s important to choose one that best fits your business needs.
  4. Secure payment gateway: You need to have a payment gateway in place to process online transactions. Research and compare different payment gateway providers to find one that offers the best rates, security, and features for your business.
  5. Plan your logistics and fulfillment: Consider how you will handle the logistics of shipping and handling orders. Will you handle fulfillment in-house or outsource it to a third party?
  6. Create a marketing strategy: Develop a marketing strategy that will help you to reach your target market and drive sales. This can include tactics such as search engine optimization, social media marketing, email marketing, and affiliate marketing.
  7. Be aware of legal compliance: Be aware of the legal requirements for eCommerce businesses such as sales tax, data protection, and consumer rights. Make sure your business is compliant with all relevant laws and regulations.
  8. Get customer feedback: Continuously seeking feedback from your customers can help you to improve your products, services, and overall customer experience.

By keeping these tips in mind, you can set your eCommerce startup up for success.

Frequently Asked Questions For Starting Ecommerce Store

Q: What are the basic requirements for starting an eCommerce startup?

A: The basic requirements for starting an eCommerce startup include a business plan, a website with an eCommerce platform, a payment gateway, a marketing strategy, and a logistics and fulfillment plan. Additionally, you will need to research and understand your target market and be aware of legal compliance.

Q: What is the best eCommerce platform to use for my startup?

A: The best eCommerce platform for your startup will depend on your specific business needs. Popular options include Shopify, Magento, WooCommerce, BigCommerce, etc. It’s important to research and compare different platforms to find one that fits your budget, offers the features and scalability you need, and integrates with your other business tools.

Q: How do I market my eCommerce startup?

A: There are many ways to market an eCommerce startup. Some popular methods include search engine optimization (SEO), social media marketing, email marketing, affiliate marketing, influencer marketing, content marketing, and paid advertising.

Q: How do I handle logistics and fulfillment for my eCommerce startup?

A: There are several options for handling logistics and fulfillment for an eCommerce startup. You can handle it in-house, outsource it to a third-party logistics (3PL) provider, or use a combination of both. Factors to consider when making this decision include the size and complexity of your business and the resources you have available.

Q: How do I secure a payment gateway for my eCommerce startup?

A: Secure Payment gateway is a must for an eCommerce business. There are several payment gateway providers available, such as PayPal, Stripe, and Square. Research and compare different providers to find one that offers the best rates, security, and features for your business.

Q: How do I stay compliant with legal requirements for eCommerce startups?

A: Legal requirements for eCommerce startups can vary depending on your location and the products or services you are selling. Some common legal requirements include sales tax, data protection, and consumer rights. It’s important to research and understand the legal requirements for your business and to consult with a lawyer or accountant if needed.

Graffersid has all sorted out for you!!

From business goal setting to designing the marketing plan of your eCommerce platform, eCommerce developers at Graffersid won’t let any stone unturned to deliver you a fast and fancy optimized eCommerce site.

And that is the reason reputed businesses prefer hiring Graffersid for their dream ventures 🙂

 

5 Mistakes a Start-Up Makes When Building an MVP

Posted on by GraffersID

When you decide to launch your line of products; you should work rigorously on MVP. Often, they do not realize that some of their efforts may go in vain or the process incorporated can be wrong. So, this blog is an amalgamation of every mistake a startup makes when building an MVP and why they should avoid it.

We will first know what exactly is MVP.

MVP is a popular abbreviation for the term, Minimum Viable Product. It is known to be a concept from the Lean Startup that further emphasizes the impact of learning in the development of a new product. Moreover, Eric Reis, defined MVP as the version of the new product that allows the marketing team to fetch and collect important information about the customers with a minimum amount of effort.

Why MVP is important?

The sole concept of MVP lies on the fact that it is all about testing, knowing what will bring value and what will not. In simpler terms, we can say that MVP is all the processes known to understand the market demand. And, it is least about selling the products to the end customers. Often a startup owner may take this step for granted. They think that their product already has what is desired by the customers. But, it is known afterward that such a product exists already in that category. It is why it is asked to invest in MVP. MVP allows the companies in question to test the waters know the actual demand and predict if the value offered by them is required or will be something of use to the customers. Once you the answer to the above questions you can create a successful app. 

On a concluding note, an MVP can allow the company to test their business concepts. When a product is launched, the company can know what the target audience is and hence can alter its functionalities according to that particular audience in mind. If you are start-up this step is even more crucial for you. You can’t just rely on just your instincts or guts. You have to test the concept with the MVP and tailor the results and requirements accordingly. Only then you can be assured that the product you invested in has the power to offer you profits. Coming back to the topic, the mistakes an entrepreneur makes while creating an MVP– 

Minimum Viable Product

Product 

Note: The above picture is an example of an MVP and b- product.

It is the sight of everyday occurrence that start-ups try to bring their innovative or great marketing impact idea to life. And, this is done by means of a website or developing a mobile application. But, according to recent research and findings, only 10% of them succeed. Do you want to why? The same question popped into our heads with the same intensity. The answer is pretty simple; most of the businesses don’t even know what they are offering, and how different it is from the competitors.

And, half of them don’t have any clue about the need of the customers in that area. We mean, ask yourself if a general audience requires pajamas for work from home, will you offer them with ready to wear at workplace denim? Who wears denim in our homes? We don’t. And, the example provides us with the pretty evident idea that knowing what your target customers require is IMPORTANT!

Mistakes a Start-Up Makes When Building an MVP

1. Not putting duly emphasis on Market research- 

As discussed in the case above, market research is one of the vital elements in the overall idea generation & product development process. When your offering is proportional to the needs & requirements of the target market, you may have an advantage. 

Source- CB insights

Moreover, if the statistics are to be believed then there are 50% of businesses are at risk of failing because the business can’t provide something of value, or new to their customers. The product offering already exists. And it is why market research is one of the crucial things today. If you ignore this one, you may put not just your business but also your bank balance at a lot of risk.

 2. Unprofessional Development Team-

 It has been noticed that finding a good MVP is not the only hard challenge a business has to face. Rather it is also finding the right and experienced team. And, when working with the unprofessional team you will face the following problems- 

  • Lack of cooperation- At times, you will need their suggestions and advice too. But, when they fail to compile by your policies and stand correct on the parameters what happens? Your MVP team should be such that it adds value to your ideas. They should stand true to your values, your protocols, and even policies. And, they should help or assist you when required or needed. 
  • Missed Deadlines- often it is seen that when an unprofessional MVP team is hired, they fail to deliver when asked to. It is because they spend a lot of time thinking about how to rather than when to. They will not know the correct procedure and how to implement the same to get the desired results. And, thus, it leads to the missing of the deadlines. 
  • Feedback Interpretation issues- Once the MVP has been done and is out to the target market, you will get certain feedback. The next stage demands you to tailor your product feature set accordingly to the feedback. But, an unprofessional team fails to cater to your needs and requirements and thus, puts your entire plan on hold.
  • Lack of experience- There will be challenges that will be known to be out of context. And, when this happens you will need the support of your MVP team. And this is only possible if they have experience. If they do have, they will map and monitor the problems beforehand. 

3. Not Prototyping-

  It is yet another step that requires our immediate attention. Often a start-up skips this stage and moves further to the development phase. Why do they do this? It is done by them to avoid the time taken in the prototype phase. But this is where they go wrong.

A prototype phase prepares the one in a way that they encounter no challenges ahead. Moreover, if you are building an app this can be helpful because it helps them to make the overall app development process smooth and easy. You should further start with the interference architecture. Once the above-mentioned is done you can build a general structure of the product. Now put all the information related to it. Then comes the step to get it formalized and this can be done by means of supporting documentation.

 – Build your rough wireframe with the help of the previously designed product architecture & the main elements. Moreover, you can also draw such wireframes with your hand on paper. 

– And, if you wish to then you support it with the high-fidelity prototype. It will help to present your product through a means of graphic images.

 – A prototype so presented graphically will help give a clear picture to the investors. And, also forms a strong and valid foundation for the next phase i.e. the development phase. Prototyping is known as the art of analyzing and even spotting your faulty points. 

Read More: Here is the Difference between UI and UX Design

4 Considering the M to be Maximum

Have you ever seen a product that offers too many features? Not us. Do you want to know why? The more features incorporated in a product can make the overall product to be less usable. And according to CB insights, this is the number 6th reason why a start-up fails. Once the business fails, well its product disappears in one thin line. Without focusing on too many, focus on just one main feature and a basic feature. And, determine the way to highlight both in the best possible ways. 

5. Wrong Approach for Building an MVP

Have you ever wondered why your start-up solutions fail despite working rigorously on your MVP? It is because the approach to create a minimum viable product for your business is wrong. As discussed above, a product should have a feature that satiates the needs of a target market. For example, let’s imagine a cup of cake. A raw cupcake without any sort of icing should be offered to a customer. If he’s hungry, he will eat and tell you the feedback. For suppose, he tells that it’s too fluffy in the center but hard on the linings.

Take this feedback and along with the frostings make it a better version. And, that’s what an MVP stands for. Do not complicate it or rush into it. Give this process its time, and once the feedback is gained, ask the development team to incorporate it with the other set of functionalities.

On a parting note, Your product idea can be unique, and we are looking at something that can provide us with a technical revolution. But, before that happens, invest in MVP. Ask yourself a few questions- -What is your product about?-What are the values you wish to add to it? – Who will be the target market for the same? And once these questions are answered, assign a software development team to initiate the next process. When you are a start-up you have an advantage. And, it is you can direct your limited resources to the feedback interpretation stage. So, don’t miss out on the MVP, and keep the mistakes in check.

Five Strategies to Help Startups Survive Coronavirus

Posted on by GraffersID

The startup is a risky venture and the life of a startup is frenetic, but the outbreak of Coronavirus has escalated this frenetic-thing to all-new levels. Not since the September 11 horrifying attacks, the social and professional conversations have been entirely monopolized by a single topic.

Originated in China’s Wuhan, Corona is a social and economic sledgehammer that has descended upon the whole world. Here are some of the biggest challenges for startups amid Corona: missing supply chain links, little cash on hand, eager but scared employees, consumers who are have shifted to staple products and services and online-only channels.

Time is hard for every industry, whether it is a web and mobile app development company or an eCommerce venture. Every business hit hard around the globe, and for startups, it is the hardest. However, startups use to manage the business with limited resources, and if armed with the right approach, the startup ventures would be able to survive this difficult phase.

Here are the 5 Strategies for all early-stage entrepreneurs that will help your startup business to survive amid Corona:

        1. Accept the Problem:

When any disaster takes place, there is always some share population that remains restrained and over-optimistic about it. While there are some startups have that started focusing on the negative ramifications to their business and started to adjust accordingly, there are still some that think their business will be insulated or might even see an uptick.

Over a couple of months, every industry would get to know that coronavirus is an unexpected seismic force that will turn every element of the society upside down. No doubt, some businesses will witness the direct and immediate impact of the pandemic, none of us emerge will from the Corona in one piece.

The sooner startup ventures will move past denial and start extenuating on the scope of the impact, the better off they and their stakeholders will have.

      2. Re-evaluate and Prepare Again:

No matter, whether you have prepared your operating plan in January, February or 15 days before from today, you need to re-evaluate it. Most startups tend to overestimate what they can accomplish in a year and underestimate the result that they will obtain after five years. Right now, many startups are overestimating the post-Corona growth but underestimating the impact which they will face in Corona times. This situation of whammy must be baked to get revised operating plans. It is important to note here that the risk of being unprepared is more significant than the downside of over preparation. 

Make sure that your revised operating plans are more solid than it is required. In other words, plan for the worst and hope for the best. Corona will increase the length of the sales cycle and deal sizes will shrink as consumers will be more reticent while spending.

Companies involved in selling physical products will experience a disruption in supply chains and startups that are majorly dependent on in-person sales efforts will also take a hit due to travel restrictions and an increase in remote work. All in all, every startup venture should look now to start practicing the art of digital selling. Calls and video conferencing are not just, every sales plan should be re-evaluated and change accordingly.

We all will be impacted, so plan accordingly. Spend time in discussing the strategies of tomorrow and next week, rather than building plans for next quarter and next year.

Read Also: Mobile App Development Ideas for Startups to Thrive Amid COVID

         3. Be the leader your team needs right now.

It is the moment of crisis that reveals the true mettle of leaders. Nothing matters more than employees associated with you at this difficult time. Start by mandating telecommuting and make sure you are keeping the employees’ safety above all. Also, if you can afford to keep contract workers who are not able to work remotely, then you must not lay off.

VCs often advise founders to raise more money than to safeguard the business in case the unimaginable occurs. Well, this is that unexpected time when you need that cash reserves. However, no decent investor will ever punish you for incurring costs from doing the right thing. Right now the crisis is happening in every part of the world and across every business sector. So, currently, it is important to do the right thing first.

         4. Overcommunicate and Empathize:

The current situation is panicking for everyone, whether it is your customers or employees. If you are physically away from them, be visibly and emotionally present. Try to communicate as much as possible. Try to conduct company and department-wide video conferences; you can use tools like Zoom, UberConference, FreeConference and Skype.

Replace certitudes among your team with frequent words of affirmation. Use emphatic language over calls, texts and email to communicate your support. Make sure you are showing empathy and flexibility towards your team in this difficult situation. There might be parents in your team with small children around, who are trying to be as productive as possible. Same with the young individuals with elderly parents who need to be taken care of. Tighten the belts humanely, tell them you understand and support them during this situation.

There will be many startups that would crash under the impact of Corona and there would be many families that will go through the unprecedented economic and social pressures. Yet as the CEO it is imperative to keep your moral grounded high while fighting this state of insolvency and low sales.

If you are a startup venture with cash as a limited asset, here are the things that you can follow to balance the current phase:

  • Reduce hiring or at least postpone current hiring for quite a few times.
  • Plan to resume hiring whenever a company starts to stabilize.
  • Cut the discretionary costs by halting the marketing and sales campaign. Such expenditure encourages incremental growth and can be put on hold for some time.

If the cash situation becomes worse, then you might have to consider layoffs. If you are adopting it, make sure you are generous with severance and outplacement packages.

           5. Aim not to Survive but Thrive

There is no denial in the fact that months ahead are going to be freakingly tough. But, remember innovation and creativity also emerge during the situation of scarcity and reframed prospectives. In-person meeting with your sales team is no longer an option in the present situation; however, you can motivate your team to develop products that customers love.

Workflow automation will be at the center stage for the companies which sell products to consumers or enterprises. The usage of a lot of products and services will narrow-down in the coming months, but it will return to pre-COVID-19 phase once we are on the other side. An innovative approach can also establish “new normal” across a myriad of products and services, which will pave the way for non-linear growth and expansion.

Before Corona also companies have faced challenges and have emerged from downturns. So, don’t quarantine your mind and keep looking for innovative ideas. The right idea will not only make survive but thrive in Corona times.

Parting Ways

Coronavirus is not something that we’d have wished or prepared for, but now since it is here, rather than simply losing hopes, see it as a challenge and work to overcome it. Focus on what truly matters and how you can make up to the other side of it. But, before that, wash your hands with soap and don’t forget to maintain social distancing. Stay at home and stay safe.

5 Best Tools to Manage Remote Team Amid Corona Times

Posted on by GraffersID

This month has been a heck of a year. The outbreak of Coronavirus has thrust most of the world into a state of panic and most employees (not just the ones working in IT firms) are adopting this new model of working remotely. The companies are using best tools to manage remote team.

For many freelancers and consultants, this is something they have been doing for years, whether it is working from the room, café or plane. However, with schools closed nearly everywhere, working remotely is now managing the children and families in addition to the work.

With so many folks working remotely, it becomes essential for the companies to equip themselves with team management tools to keep track on the completion of the task. While working with a remote team, you need tools for uninterrupted communication and the right tool to conduct the meeting.

In this article, we are bringing The Best Five Tools to Manage Remote Team:

Scoro:

Scoro is a popular work management software that combines tools that help you manage sales, billing, projects and even allow employee collaboration. Scoro lets you manage your remote team and also lets you run an entire business from home or wherever you are.

The tool helps you manage not only the remote team but the entire company, simply sipping coffee at the comfort of your couch. Moreover, the reporting capabilities of Scoro are unparalleled to other remote employee management software available in the market.

Key features of Scoro:

  1. Scoro provides an instant overview of the team’s work. Team dashboards include charts, metrics and to-do lists enable you to effortlessly track work progress.
  2. Time tracking is made easy with Scoro. It let your team track both the actual and billable spent time on a project-timesheets created in just a quick span of time.
  3. The tool offers real-time reporting and gives you a compact overview of time spent or planned broken down by project, team member or client.

Pricing:

Scoro self-boarding starts from $0 and the standard package starts from $899 and pro starts from $1,699.

Read Also: 7 Best Tools to Conduct Meeting with Remote Teams in Corona-Times

Pivotal Tracker:

With a shared view of team priorities, dynamic tools to analyze progress and process that fosters collaboration, your team will deliver more consistently and frequently.

Key Features of Pivotal Tracker: 

  1. It lets you configure notifications to get the messages and updates you need.
  2. It offers file sharing options; you can enhance your stories, mock-ups, presentations, drag-and-drop from your computer or attach them from Google Drive.
  3. Organize and monitor stories with searchable labels to make your workflow more visible.
  4. The story blockers help make project impediments highly visible so that your team can collaborate to resolve them.
  5. Follow the breadcrumb trail, view every update of the project from day one to see how the changes in code are mapped into product decisions.

Pricing

Pivotal Tracker is totally free for team up to 3 and the team of all sizes can get Tracker free for a month period. The Startup package of the tool starts from $12.50/month for 5 collaborators and 5 private projects and Pro package starts from $62.50/month for 15 collaborators.

Freshdesk:

One of the biggest benefits of working with a remote team is the fabled “24-hour coverage.” Freshdesk is cloud-based customer support software that allows you to enjoy 24-hour connectivity with your employees.

The software allows you to streamline all your customer conversations in one place, collaborate with other teams to resolve the issue faster and automate your repetitive work.

Key Features of Freshdesk: 

  1. It lets you track and manage incoming support tickets that are coming from multiple channels within one inbox.
  2. Offers SLA management, which means you can set deadlines for ticket response and resolution based on different business categories.
  3. You can provide quick and consistent responses to common questions by creating pre-formatted replies.
  4. Agent Collision Detection, which ensures that multiple agents don’t end up working on the same ticket by mistake.

Read Also: How to Make a Smooth Transition to Remote Development Team

Quip:

Quip is a real-time document sharing and editing platform that let your team work on and share public documents. It also comes with a helpful notification tool, Quip automatically pings the one mentioned in the document. Conversations are displayed alongside, which makes it easy to understand the task.

Key Features of Quip: 

  • Account Planning: Quip allows you to turn static plans into dynamic data-driven strategies that increase pipeline, drive action and get the whole team to align in real-time.
  • Close Plans: With Quip’s Close Plans you can manage deal more efficiently that save time and speed up deals with live data.
  • Deal Feeds: The tool allows you to boost the visibility of your business and motivates your team to achieve more. It provides real-time notification on which deals are pushing, which deals are closing and more.
  • Opportunity Notes: The tool captures customer notes and syncs them with the right opportunity across any device. This increases alignment and gets deals faster inside your CRM.

Pricing:

The Starter package of the tool is available at $10/user/month billed annually, while the Enterprise package of the tool is available at $25/user/month.

GitHub Wiki:

GitHub Wiki is a place in your repository where you can share long-form content such as how it’s been designed, how to use it and so on. It is a helpful resource for new employee onboarding.

Key Features of GitHub Wiki: 

  1. Wiki is hosting documentation that you will find every GitHub repository. You can use your repository’s wiki to share necessary and detailed content about it such as how to use it, how to design it and its core principles.
  2. A README available in GitHub wiki quickly let the user the name what your project can do, while you can use the wiki to provide additional documentation.
  3. With Wikis, you can write content just like everywhere else on GitHub. We use open-source Markup Library so that different formats can be easily converted into HTML.
  4. Wikis are available to the public in public repositories and limited to people with access to the repository.

Pricing:

GitHub basics is free for every developer. Github’s Pro starts from $7/month and the Team package are available at $9 per user/month.

Conclusion

If you are a remote team manager, look no further when it comes to effectively manage the distributed and remote team. The above mentioned five tools are effective tools to manage remote team, aid you in leading a productive virtual team effectively amid Corona.

What to choose Custom built website or WordPress in 2023?

Posted on by GraffersID

Ask a non-tech founder what is his biggest dilemma, he won’t say “his wife’s bad mood”, rather it would be to decide the technology best suited for his idea. You talk to a dozen people and you will have a dozen options all mutually exclusive, completely driven by one’s own opinion. And in all honesty, it is not their fault. Well, the answer completely depends on your requirements and the stage of your startup. But don’t worry I will take you through it with a completely non-technical explanation ( Custom built website or WordPress ).

Before we start: Don’t go Shopping with an undefined list!

Before we start, know that almost all the technologies can create just about any idea that you might possibly have(90% of times), however, what matters and what we will look at in this article is :

  • Cost of development,

  • Duration of development,

  • Scalability of the product for long-term use,

  • Application Speed that the tech can deliver,

  • And the tech being SEO friendly,

These are also the parameter which is considered when the Godfathers’ of the tech industry create a new or update a framework or a language.

Want to know the cost to hire WordPress developer?

See not so tough to understand is it? Let’s grow your confidence with 1 bit at a time

This cake has 3 layers of icing

Website Development is always done in 3 phases and you need to know this because you will have to choose the technology for all the 3 differently. One is Frontend, this is what you see on your browser (what you call a website or an app), another is Backend this is what is hosted on the server (this handles your logic and connection with the database) and then you have Database (this hold all the data of your application).

know in detail What is WordPress website? Advantage and disadvantage of WordPress

This is the real deal

With the above learning let’s dive right into what you to read about what to select and when to select. The IT companies will always give you 2 suggestions: Ready-Made Solution or Custome Development, the late will generally be more expensive than the prior.

Ready-Made Solution:

When: The idea is not validated, the industry is new to you and you are not sure if this is the thing you want to be doing for the rest of your life. Choose this when you are looking to experiment and just want to test the idea and market reaction. Or if you have really less time for the launch. 
Some famous examples: WordPress, Shopify, etc.

The Problem: The problem with these platforms is that you will have to go with custom development sooner or later if you are doing the startup for the long run. The development will mostly be from scratch so it will be a complete reinvestment.

Custom built website:

When: Idea is validated, an established business, the startup is profitable, you are enjoying it and you want to do this startup for the long term. Choose this no matter how big your business grows you won’t have to recode the complete platform from scratch; Some tweaks and you will be good to go.

The Problem: It is expensive and like building a house, you want to make sure you use the right material (technology and languages) since you don’t want to rebuild the complete thing.

I won’t bore you with the explanation, since for you what matters is what is the most suited tech for your purpose.

Think of it like a horoscope you first have to find your zodiac sign and then read the horoscope. First I will tell you which languages suit what kind of need and then you can read about those languages based on your affordability and requirement.

For E-commerce:

Front end: EmberJs/React.JS, HTML, Bootstrap

Backend: Node JS/ PHP / .Net

Database: MongoDB/ MySQL

For Marketplaces:

Front end: Angularjs / JQuery / Reactjs, HTML, Bootstrap

Backend: PHP/ Python/ Java

Database: MySql

For Analytics/Statistic/Algorithmic systems:

Frontend: React.js/ JQuery, Ajax, HTML, Bootstrap

Backend: Python(highly recommended)/Java

Database: MySql

For Static/Informative website:

Frontend: Angularjs/JS with Ajax, HTML, Bootstrap

Backend: PHP / WordPress

CMS:

Frontend: Reactjs/JS/ Jquery, Ajax, Bootstrap

Backend: PHP/WordPress/Drupal

Database: MySql

For Booking Systems:

Frontend: Angular/ JS, Bootstrap

Backend: PHP/Nodejs/ Python

Database: MySql

Too many options, aren’t there? So just how do you decide? Well, now you know your zodiac sign (the development language), its time to see the prophecy. Websites are built with a combination of Frontend, Backend, and Database.

Know the difference between Webflow vs WordPress

When to use which technology:

Technology in Frontend:

1) ReactJS (Recommended): It is really fast and highly efficient. It is your perfect love when you talk about the SEO on your website. I could give you some more technical pointer but let’s keep this non-tech.

It works great with other latest technologies and has a lot of powerful tools.

However, for new people, the learning might take some time and if you are using legacy technologies with React you might face challenges.

Best combination: ReactJS with Node.js or ReactJS with Python

2) AngularJS: It is easy to learn, has a strong community. Use it when you are not working with a lot of data or data-heavy applications.

The language has not been very stable as there have been completely new releases with complete deprecated support and no compatibility with older versions.

But since it has Google tag to it, you certainly can’t ignore it. (Not something I recommend)

Know the difference between ReactJS vs AngularJS

Technology in Backend:

PHP: PHP is a wear language of the slot. It is good for basic website development and CMS development. Since it is easy to learn, it has a huge community and amazing support. Hence creating an abundance of resources, this makes the development work cheaper. So if you have budget and time constraint or if you are creating a never-seen-before feature and want to trial run it, go for PHP.

Some of the famous frameworks of PHP are: CodeIgniter and Laravel

1) .Net and Java: These are some of the oldest and highly mature languages. Most of the legacy and very stable projects are builds on this. The community is vast and ever thriving.

If your application deals with a lot of data and needs high security this and our next superstar language are your go-to languages.

Also, you can choose this if your application is expected to handle millions of users. Most of the banks use these languages for their development work.

2) NodeJS: It is another powerful language and is the youngest. Nodejs is fast, secure, and can handle small to medium applications.

However, application with lots of data, like a stock market analysis application it would not be recommended.

For everything else, you can pretty much rely on and it’s strong integrations with other languages. After Python, it is the next best thing IMO.

3) Python (Recommended): Python is the star. It takes time to learn Python but once you do there is no holding you back.

Python has most privileges compared to any other language with any OS. Use this for the project which needs integration with hardware, or if your application is really big and has a lot of complicated logic.

Do not use Python for static or basic websites.

Read Also: Python vs Node: Which is best for your Project

Pros And Cons Of WordPress And Custom Built Website –

CUSTOM BUILT WEBSITE-

PROS:

When the owner of the website wants to do some specific modifications that WordPress website not provide these websites are built.

  1. The custom built website is more search-engine friendly than the WordPress website.
  2. This website is able to grow with the business so that one can make a change in its website which is unique.
  3. It has more support than the WordPress website built from inbuild templates.
  4. It will provide one’s company branding by using such designs that are unique.

CONS:

  1. The websites built by the custom built website are more expensive than the WordPress website.
  2. Making a customize website takes a lot of time than creating the same website through WordPress website.

Read Also: Create a Website

WordPress Website-

PROS: 

  1. It takes less time as compared to build from scratch. WordPress has an inbuilt library of themes so you can pick any theme directly rather than creating it on your own.
  2. WordPress provides a secure platform to build a site, by the large group it can detect any loop or bug and then provide security in the system.
  3. The WordPress website brings up updates quickly which will help you to update your website and use new features.
  4. It has responsive themes to make the site effective and attractive on mobile devices.

Looking for Dedicated Developer

CONS:

  1. In the WordPress website choosing themes according to yourself is good but its customization is tough for which you need to Hire WordPress Developers.
  2. It is unprotected to hackers though it provides security. Its quick updates make it an open way to hackers and also it requires regular maintenance which is not possible for everyone.

Conclusion

Hence, Custom built website and WordPress both the websites have pros and cons now you have to decide which you have to use according to your work looking at the budget and features.

How Should Startups Hire Their First Web Developer in 2023?

Posted on by GraffersID

Hiring your first web developer in a startup in 2023 is like a Marriage. Where the developer wants to run wild, get cozy and drop the guard while the founder should be able to be a strong pillar and guard the other’s back.

I have been on both sides of the tables. While I was working, I had offers from some of the best MNCs while the startups were offering up to 100% hike. And as a bootstrap solo founder, I have hired some extraordinarily talented people at market standards rates.

I will give you the gist of what I am about to explain next. Really talented people are motivated by ideas, dreams, and confidence rather than money. Of course, everyone expects a decent package to justify their career projections.

Let’s first understand the Challenges of a Founder:

  • You have a money crunch,
  • You want a developer who is an expert in his domain so that you don’t have to repeatedly cross-check or explain things,
  • Web Developer should take ownership of things and reduce your burden,
  • He/She should be fast, proactive and understanding,
  • Someone you can trust (since you may or may not be technical and you don’t want to lose your code),
  • He/She should understand the product inside-out and be able to suggest improvements and find loopholes.
  • Basically, you want a CTO without an Equity, High Salary or too much commitment.
  • Hiring takes a lot of time, consultants take a lot of money, finding organic candidates takes a lot of effort. Hence you want to hire them asap.
  • Also, because you are going crazy thinking about the idea, and what all you can do to grow it and the excitement of how the market is going to react to your product/service is uncontainable.

Well, all points are valid and you feel you have all the right reasons to be able to deserve the best developer suited for the role.

Now, let’s enter the shoe of a web developer to see their challenges: (assumption the developer is good)

  • The candidate is registered on very limited job sites, which he visits rarely,
  • He/she has too much work (as a hobby or official work) to dedicate in searching where is that great idea that could excite him,
  • He/She doesn’t want to be just an employee or be overpowered, rather all they want is respect and acknowledgment.
  • They know they can always get good offers.
  • The biggest risk for them is that the startup may shut down in some months or a couple of years. An early job change will affect their resume.
  • They have worked too long on the tech and always want to push forward in learning new things and implement something challenging.
  • Not having a tech senior means that there will only be self-learning and it might be slow.
  • Can he/she learn something by being with you that can help him/her in her career going ahead?.

What is a web developer looking for:

1. Security:

The developer wants to look into your eyes and feel the confidence that the startup is not shutting down any time soon.

2. Respect and acknowledgment :

They hate politics and unnecessary hierarchy or bootlicking. They want to be acknowledged for the work they do and the quality they bring on the table.

3. Leader:

They are employees because they need someone to guide them. Someone’s shadow to work in. Hence in the discussion, they will always look if you are someone with whom they can drop their guard and focus core-ly on working and technology.

Some Platforms to Help you Meet Your Candidate:

1. Indeed: Free + paid, Feature to filter candidates based on custom Questions (Very useful), Has own Database of Developers, Give organic reach, gives a public URL that can be shared on other platforms, Great Dashboard to review applications and manage profiles.

2. AngelList: Free, No custom questions, Has Own Database, Gives Organic Reach, Gives Public, Not a great dashboard, Gives you open access to developer Database to filter the one you like

3. Naukri: Paid Only, No custom Question, No Organic Reach, No Public Link, Management Dashboard is good, After paying Gives access to the Developer database where you can find your developer. (Not recommended for startups).

4. LinkedIn Jobs: Paid Only, No Custom Questions, Paid Reach to candidates, Decent Management Dashboard, you can find food candidates here.

5. Consultants: A decent consultant will charge you 6% of the annual CTC and a good consultant will charge you 8.33% (Roughly 1-month salary). And you have to pay only if you hire a candidate referred by the consultant.

6. Social Media: Another common practice is to do a job post on any one of the above free portals and share its link in a post on the social media like Facebook, Linkedin, Instagram, and WhatsApp with compelling content on why a candidate should join your startup.
Here is a great example.

How to ensure that the web developer is the right fit and convince them to join:

1.Technology:

Problem: You don’t understand the technology that well and are unable to judge if he is the right candidate. Possibly you might as well just show your reluctance towards talking about the tech aspect.

Effect: Developer feels insecure.

Solution: Don’t interrupt and just hear what he has to say. Talk more about his past work and the features he has implemented rather than the technology he used.

2. Salary:

Problem: You don’t have a lot of cash to spend and yet you need a good developer fast. Due to which you show weakness by being too over-powering or being too needy.

Effect: If you show neediness they will never join you. If you try to be too over-powering they will push you more on salary bracket.

Solution: You need a friend, not an employee to show them that you understand his need and you acknowledge that they are good in their domain. You can give them a six-month raise offer or a future commitment for the same while meeting their base expectations.

3. Motivating them to accept the offer:

Problem: It is a common sight to see developers not join a company even after all the demands were fulfilled. There are multiple problems while doing this.

Solution: It is a human tendency to be a part of something big, to be a part of something important. You need to open up and tell them what your vision is, what change do you want to bring. How is your idea going to stand out, what have you planned for the next 2 years?

4. Test Before you hire: (Applicable for Non-Tech Founders as well):

Problem: Resumes can be a bluff, people can manipulate the information or exaggerate the tech and project they have worked on. The test is not always about coding, it is also about work ethics, approach to a problem, commitment and delivery and for that, you don’t need to be technical.

Solution: Design a small problem like a review and rating portal (which is hardly 4 pages: List of Company,   Review List Page, add Review and Add Company) and allocate a time like 3 days or 4 days for the candidate to develop it.

1. Timely delivery means they value time and stick to words.

2. Proper communication/updates mean they are professional.

3. Asking questions means they take ownership and is good at management.

4. Adding elements or enhancing the given features mean they are proactive, talented and have a good experience.

5. If they ask for more time that shows that they are honest.

Conclusion:

A good web developer will always value the dream, vision, and learning more than the money. Because he knows that he always be able to find a better and higher-paying job. A candidate who is motivated by money can never be a good fit for any startup. Hence you can never buy them with money, you have to rather motivate them with the goal.

Hiring in 2023 is more about finding the best fit rather than the best coder. Teaching someone how to code is easier than teaching someone the work ethic.

Filter the right candidate always gives them a small task. Find the most important and critical tech part of your idea and give it as the task applicants. And based on how they approach the task will tell you all the things you need to know about hiring your first web developer. Again the one completing it or doing it fastest may not always be the best choice.

 

5 Most Vital mistakes the First-Time Entrepreneurs commit !

Posted on by GraffersID

The startup success rate is claimed to be at less than 10% which is fairly low. For any business to run successfully the first priority is MONEY. If you have money then you have the leverage to make mistakes, errors, and experiment. However, this absolutely does not mean that you start running behind the money.

On the contrary, money should be your last priority. While being aware of how to spend it wisely. For most first-time Entrepreneurs, it is especially tough since there are so many things to do.

Apart from thinking about the new features, procurement, and operations, there are still a zillion other things to care about. In the midst of this, they miss out on properly calculating and planning their investments.

Indeed this article would be too short if I have to cover all the points. So I am just mentioning the 5 points that are most vital. The below 5 points are all different aspects of the startup phase but are directly or indirectly related to some chunk of money being wasted. The first 3 points will relate to the pre-launch issues and the latter will emphasize the post-launch aspects.

Conservative way of idea validation: (Failing to talk to the real customers):

Traditionally entrepreneurs had to do a lot of research to validate the idea. Because people would be reluctant to share their experiences, and also because, for some, there was no way to identify and target their customers.

Problem:

You will realize it within a few months of operation, whether the idea was improperly validated or not. You would have already invested heavy capital and significant time building the first model. Reworking on the same idea and being defeated once is not just a financial hit but an emotional and psychological hit as well.

Solution:

  • Don’t be shy, if you want to be an Entrepreneur you will have to talk and sell your product every day from here on.
  • Use social media to find your target audience and organize a meeting.
  • Services like Google Maps can help you locate specific shops with their contact details.
  • Websites like Type Form and SurveyMonkey can help you create Survey Forms and reach millions of people in a moment.
  • Talking to customers to understand what problems they are facing and whether they will buy what you are selling.

They Dive Right into the Development of their website or mobile application:

This one is the most cliched and it is not even the fault of the founders. The real fault is of the development partners, they should inform you of the way things should be worked instead of agreeing to everything that the founder says.

Most of the founders are not technical and there is only so much they can do while trying to get in-depth knowledge of a new domain.

In all honesty, the website (software) development is pretty much similar to developing any startup, all the phases are more or less the same. There is research, a demo, validation, rework and finally launch.

Problem:

It is tough to find a development team that specializes in startups. Traditional development companies will not help you in validating your idea and will just build what you ask them to since they are used to working with big companies who already have all the other things sorted.

Solution:

I have an easy-to-follow step-by-step article on How to prepare yourself before reaching out to a development team.

Else, try to find a development team that specializes in working with startups, then it is a jackpot. This will help you in 2 ways, firstly, they will take half of your burden away by guiding you from their experience of working with other startups.

Secondly, their suggestions and inputs will really open a new perspective on the original idea.

Choosing a company based on their image rather than the person they interact with:

The most common way of deciding the tech partner is based on their social media image or its founder’s nature. And insight and it is indeed a good way to filter out the right companies from the crowd.

However, it is important to realize that no matter how good the founder of the social media image of the company is. What matters are the person who will be handling your project?.

If the person you are interacting with understands your requirement then you are in safe hands.

Problem:

Social media can be deceptive, the company image and its reality can differ significantly. A Company has made by its employees and no two individuals are equal.

In a typical IT company, a project has generally assigned to a Project Manager and it is this person who will have a major influence on your project.

At times, entrepreneurs get stuck with a person who is not able to relate to the project or provide valuable inputs.

Solution:

Pretty simple, it is very similar to marrying someone. Of course, you see their background but the highest weight has given to the actual communication. And the synergy while getting to know each other. The person you are interacting with matters the most.

Since he will be handling your project. So forget what you read, erase what the founder said and completely concentrate on what the manager is saying.

If you don’t like him ask for a replacement or find a new company. Don’t risk it unless you are confident.

Here are 5 Non-technical ways to hire a technical company

Improper Operational cost calculation:

Well, startups are different, when people say think 3 years ahead they are not talking about the dreams alone. They literally mean it. You need to be prepared for the next three years in advance.

Then, again the “Change” is the only constant and your idea will evolve with time. But setting the right goals and vision are more important than you think.

Problem:

Most first-time entrepreneurs have not experienced enough to micro-calculate and take into account all the possible costs that they would inculcate over a period of time. For example, just something basic, one of my clients forgot to add his own salary. While calculating the price of his product.

Going 3 years without a salary. Another one added his salary but didn’t count his company as a separate entity. Due to this the company account and his person were the same.

Solution:

Plan for small independent phases. The delta of failure would be much smaller for a 6 months than for 3 years. There was no defined process to build this maturity it is something you build up with experience. What you can do in your day-to-day life keeps trying to predict the future and improve your strategy with every failure.

Making money the priority:

And finally MONEY, how can we end any topic about life without including the ultimate devil. Every movie has a villain and ours is MONEY. Well jokes apart, Money is pretty important for any startup or rather any business to survive and thrive. However, there is a huge difference between working for money and earning money.

Problem:

Startups are always in a money-crunched situation and at each step. You, as a founder, will stand on a crossroad and your decision will be the guiding light for your startup’s journey. It can be pretty tempting to choose the direction which glitters but it may not always be the best decision.

Solution:

Well, there are multiple ways to put it. Depending on the person the strategy might change. Nonetheless no matter whom you take the advice from it will always mean one thing.

Never lose sight of the “WHY”, why you are starting what you are starting?. Till the time you remember the reason. You will always be able to find your way back. Let money be the by-product of what you do not the reason itself.

Image Credits

4 Ways to Prepare Before Reaching Out to Developer [2023 Updated]

Posted on by GraffersID

The time before starting your own company or launching your product is the most exciting time. Here you spend hours doing research, you keep reading about the competitors, have a lot of new ideas, there is motivational content all around you, and you feel all ready to start building your website or mobile application. You want to get your idea developed, become the next Steve Jobs, and build a brand like Apple. And you very well shall become that if you plan it properly and avoid the cliche mistakes.

One such mistake is made by the founders while they are getting their applications made. It is being unprepared and keeping the scope of assumption on what you want to get built. What may be an assumption for you may not be such an obvious assumption for your technical partner. Hence things can get nasty. At Graffersid, we spend the initial 14 days only researching and documenting the client’s market’s tech domain and finalizing the features.

Don’t wear Sneakers For a Morning Walk; Difference between Development Preparation and Business Preparations

Your market research, competitor analysis, business model planning, and your launch planning are the preparation for how you would run your startup. But your product preparations are different, the same amount of effort goes into finalizing how your needs are to be built. Although, it is your tech partner’s role to guide you, however, companies in today’s highly competitive market may not dedicate so much time. Therefore, it is better to spend some extra days making a written document of everything that you desire.

And NO, I don’t mean you become a geek or a coder, all you need to do is make a detailed document on how things will work on your website or mobile application, a couple of documents mentioning the list of features with the URLs, and a list of competitors. Now let’s discuss this in detail to understand how it can be useful and what things should you take care of while creating it. Below I will also explain how is your competitor analysis different than your Technical Competitor analysis.

When you prepare for a WAR, it is better to know your enemy

This list will be the foundation of your preparation and will act as the backbone for your other documents. Let’s say you are making a grocery application for Indian Market, try to find out other competitors in this domain. In this case, the Competitors could include Groffers, BigBasket, and Nature’s Basket, all of which are your Indian competitors in the e-commerce segment. While creating a market competitor analysis you might also include, Kirana Stores, Walmart, etc. which are your offline competitors, however, they may not be required for the Technical Competitor analysis.

Break your competitors into 3 to 4 segments:

    • Local competitors:

Local competitors are the other startups in your city or state that haven’t expanded much in other parts of the country. For example OnDoors (Bhopal-based e-store), O2Onow (Hyderabad-based e-store), and ShopKirana (Indore-based e-store).

    • Across country competitors,

There are the famous startups that you know of like Groffers, BigBasket, Beelivery, etc.

    • International competitors,

International competitors could be startups that are operating in multiple countries or could simply be successful starts in any specific country. Example: InstaCart, Shipt

    • Unspecific Competitors

Their competitors are the once who are more diversified. They operate in multiple domains including your domain. Examples: Amazon, UberEats, Flipkart.

This particular document will come in handy for gathering new ideas in which mobile apps could be used to generate additional business and attract more customers. If technology is used properly it could save you 30% of the marketing cost. Let’s see what all information can get out of a list of competitors that we have just created.

Finalizing feature is like a girl in a mall buying 1 dress (Sounds easy ?) :

Features are the most important part of the application, it could be the deciding factor on how users would use your product. Even if you make the most beautiful product in the world but the user does not have the required functionality to reach his end result, it is very likely that he won’t use your product twice. Moreover, it is better to discover all the required features beforehand because adding a new feature in the development phase or after the product is built could take significant effort and delay the release of your product.

Make a list of all the features:

The most common features are the most likely ones to be missed out. It could prove to be disastrous in the later stages of development. Hence, list down everything you see in any of the competitor’s applications. Things even as small as the login button, cart option on the left top corner, etc. There are 2 reasons for doing such tedious work.

    1. Discovery and Finalisation of Features:

When you have a detailed list of all the features that currently exist in a particular domain, it becomes easier to discover new features which could help your end users. You can find interesting combinations of features which could dramatically improve the UX.

    1. Ease of explaining:

When you share this document with your IT partner, it would be easier for them to understand your idea in depth. Moreover, it would also reduce the chances of confusion and assumptions.  This would help you in reducing the time for getting the work started. And, ensuring that the development goes smoothly without any surprises.

Your product is like your health and your documents are like the gym:

If you don’t go to the gym you won’t die, at least not immediately, but if you do go to the gym you surely live more healthy and longer. Once your list of features is ready, you can now start to analyze which are absolutely necessary and which features are just overheads. As a new product in the market, you don’t want to be too bulky or tough to understand. So try to keep the UI very simple and self-explanatory. Have only those features which are necessary and highlight your USP maximum.

Create a flow diagram for all types of users, as the last step, create a separate Excel sheet document with all the types of user roles written on top and all the final features on the left. While noting the feature make sure you write them down in the flow they occur. Like,

  1. Signup
  2. Login
  3. OTP
  4. Profile
  5. Product Discovery
  6. Categories
  7. Search, etc.

The reason to write it in a flow is so that you don’t miss any points and the reader of the document can understand your mindset towards the application.

Beneath each user role writes in detail about the information required and the next possible actions he could take from his current stance. Mention it in as detail as possible, to a level that you never have to use “ETC.” in the complete document. Moreover, try to also depict how an action of one user role affects the other user roles. For ex: if the delivery boy is out for delivery then all the other users will receive a notification about the same.

Conclusion

Do this and you would reduce the chances of entering into a dispute by 80%. For all future reference, you can refer to this document as the agreed deliverables. It does take some time and a lot of effort but then again the startup is your dream it is completely worth every second invested. Wish you all the best, hope you have a great experience and build some beautiful products. Achieve all the success you deserve.

Simple Things That Saves 4 hours Daily and Increased Productivity

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Most of the day goes by handling unnecessary things and doing unproductive activities, like creating invoices, teaching new joiners from the scratch, explaining the process, taking follow-ups and so on and so forth. By no means do I intend to understate the importance of these tasks but if you notice closely all these tasks can be automated and would still be equally effective.

I automated the maximum routine and build a process for every activity, at the same time made sure that each process is being constantly optimized and evaluated in every 30 days automatically. Sounds complicated right? It is fairly simple, let me explain you with the example below.

Tools, Document and Delegate!!

Every day I spent 4 hours in activities that I did the best but they could very well be done without me personally being involved. Since I had already cracked the code now others could simply replicate. Surely they need to be taught once personally but then they can easily work without any supervision. Hence below are the 3 steps I used to make an easy transition of work from me to other more efficient teammates. The order of the below step is also very necessary to ensure proper handover without any doubts.

  • Tools

I used specific tools for the specific tasks the online tools came really handy when managing tasks and checking the timelines. I never imagined that work allocation, instant communication, and target evaluation could be done so easily. Previously, I used to manage all these things over multiple spreadsheets. There are some great free tools which can give you a whole lot of freedom and save a lot of time. 3 of my favorite tools are Zoho, Freedcamp, and Bitrix24 .

Bitrix 24
      • Can be hosted on Cloud as well as company’s server
      • Group Chat
      • VideoConferencing
      • Can store up to 5GB of document in free version
      • Up to 12 users in free version
FreedCamp
      • Unlimited Users
      • Unlimited storage
      • Group and person discussions
      • Has mobile Apps
      • Time Tracking
Zoho Projects
      • Zoho is the list only because it has complete suite like google but much more
      • Charts, Milestone, tasks, timesheet tracker
      • Free- plan has very limited features.
  • Document

For the daily tasks, I created a documented process which was shared with everyone with detailed notes, FAQs and pictorial representation of each activity. Pictorial Representation is very important don’t forget that.

Sounds like a lot ain’t it? Well not actually, I was doing it daily anyway, and wasted 2 hours in explaining to people, 1 hour in meetings and 1 hours clearing doubts and all this on a daily basis. So I decided to spend 5 mins extra in documenting and taking pictures of my every action and 30 mins daily in researching the tool which could do my labor work.

Let me explain to you what exactly I mean by this, with a few examples:

Unnecessary things like, Being on call just for the namesake:

This one is for the project managers and team leaders. A lot of time we have to sit on the client call just for the namesake and no matter how hard you try you cannot keep your ears on the call. As a result, you end up wasting at 30 mins per call of your time.

Why exactly do you need to be there?
Because your team is not confident enough; because you are not confident on your team; because you were the first person the client interacted with. Well, none of these are a valid reason, as a leader your role is to build new leaders and a process which can run independently of you.

Unproductive things like keeping a watch on who is doing what and who is taking how long of a break:

I define productivity as an exercise by which you are able to grow your growth/sales directly. And everything else becomes unproductive. So, does it really matter to keep an eye on everyone, you do all that to make sure that there is an optimum level of productivity. Why not set up a process where the productivity is tracked and not the physical presence of the fellow teammates. Decide a deadline/milestone for each peer and let them achieve it on their own. Our best support guy never sits in his seat yet has the maximum happy clients.

Creating invoices:

Yes, money is one of the driving force to the organization, and to get the money you need to shoot invoices. The general process is either you have to be behind your accounts team to generate and give you the invoice(generally take 30-60 mins) if there is an error in that then got help you, or you create it yourself which again takes 15 mins but distracts your concentration from the real task.

There are tools available at a small cost for doing all your invoicing just by a simple 5 min task at the start of your project. You fill all the milestone as soon as the milestone is marked as completed an auto mail is shooted to the client with the payment gateway link with an invoice.

Teaching the trainees:

One of the major aspects of any organization, this generally happens with every organization. Pretty often we have interns or new joiners in the organization and to get them to speed we keep them with us and teach them everything while directing them which right practices and the proper processes.

A simple documentation of each process and all the FAQ’s with detailed responses would save you frequent interruptions and help the rookies come at par faster.

As a matter of fact, this often improves the team’s process and generate new ideas to improvise and optimize.

Taking follow-ups:

The biggest problem was to first remember the person and the date for the follow-up, the second was the way in which you take the follow-up so that your client responds and third to take it repeatedly until you get what you needed.

Tools like HubSpot are a huge asset in such scenarios. As per the statics, all major business deals need at least 5-6 times of follow-up before the deal is closed.

Imagine a tool which is smart enough when to take the follow-up and with whom to take the follow-up. All you need to do is insert generalized progressive follow-up emails, and it works while you sleep or acquire new clients.

We don’t realize the power of technology and underestimate the importance of time. To gather new ideas and grow your business it is necessary to have a free mind and focus on being productive. By investing a small amount of your time in such activity you could increase your business to 10 times to the cost and time you invested building the process and automating the tasks.

For a small example, at EngineerBabu I created a process for all the new joiners. I drafted a document with screenshots and links to everything that they would need to understand their role.

I created 3 major documents:

  • Which tools we use and why do we use them:

On an average we use 8 different tools and for various different purposes. It used to take me 4 hours each day for 7 days to teach them all the tools and their real power. Add to that the amount of time I waste in regaining the concentration after each interruption. Not everyone was good at gathering the knowledge from Google and understanding it for themselves.

To solve this we document each document and list What/Why/When/Where/How for each tool.

  • How to Use each tools:

Tools these days are very typical and have a learning curve of 3-4 days, and no we weren’t ready to invest that much time in just getting to know the tool. We took screenshot of each step and explained it’s importance in the flow of their work.

Pictorial explanation helped them get used to the tool faster.

  • FAQ:

After all the efforts there are always some doubts and there are always some standard questions from clients. We marked-down each question, from client and from the rockie, with a pitch perfect answer.

The documentation also helped us in finding out the loopholes and optimizing the process. In a larger team it becomes tough to explain and bring everyone on the same page, but with documentation, things become simpler, organized and standardized, while being highly scalable.

  • Delegations

The toughest part of all is the delegation of work. Delegation means trusting your work to someone else. Which means you are entrusting your credibility to be someone else’s work. In other words, you are giving the authority to someone to be the representative of your work and quality. Hence it is the toughest and most crucial task of all. Having said that, if you are able to find even 1 right person, the time it saves is immense; your productivity will take a hockey stick growth.

The pre-requisite to take this step is high-tolerance to failure, and leadership quality . The reason you need these 2 features as pre-requisite is that if things go wrong you have to take the responsibility and not fire the delegate.

How to allocate work?

The art of allocation cannot work if you force it on someone, neither will they do a quality work nor will you be satisfied. The best people to allocate such task are the people who are looking, for new challenges. It should be a recreational stuff for them. You might contradict by preferring the profession of the field in which your task belongs. However, they would already have their plate full of similar tasks hence they would hardly be interested in doing any additional efforts. Moreover, the professional might take it as a burden, whereas a cross-domain person would take it as opportunity and really enjoy the task.

How to find the right candidate?

For finding the most suitable person for your task you need to be aware of your surrounding. If the team is small, you can be more social and know your colleagues better. They will tell you about their new interests and things they are looking forward to experimenting with. That is the right person for you. You can match the domain of your task to the interest of colleagues.

If the team is big, you need to maintain a sheet of interests. A simple and easily accessible spreadsheet which can maintain a record of the developing interest of the colleagues with time. The co-workers will update the sheet as and when they see fit. Whenever you are looking to find a surrogate you can access the list to find the best suitable person who would be interested in harnessing the opportunity.

How to motivate people to share their interest

After some time they would automatically start seeing the value in accepting the new opportunities. Having said that, you may need to motivate people initially. The way I do it is by rewarding people and acknowledging their achievement in front of the complete team. You can also encourage people to share their experience and learning by doing this additional task. It won’t be long before people start approaching you for specific additional tasks. It is a great way to increase bonding and team skills.

I am able to save atleast 4 hours of my day and use them in finding new growth hacks, optimizing the process and help build new leaders while serving my clients to the optimal.

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Achieve upto 85% of Client Revert!!

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Client Followups is getting Clients Interested.

As per the analytics, on an average 70% of your IT companies business comes after taking regular follow-ups. It is also one of the things that show your level of commitment, maturity, and professionalism to the new clients. Some clients intentionally do not revert just to check how serious you are with the business.
So given the above fact, the process of follow-ups becomes the second most important process in converting the client, first, of course, being your “first impression” i.e. requirement gathering.

How do we take the followup?

The most professional manner is to email them. Some of the more aggressive strategies may be to ping over WhatsApp, send continuous SMS, stalk them on social media and finally repeated calls.

The biggest turn off for the clients is the way most people take the follow-ups.

Clients feel like the receptionist of a busy waiting room where people keep asking for updates.

And what do we ask the clients, the same old and standard lines “Hello Sir, how are you? Is there any update for me?”; “Hope the email finds you in best of health. Any updates on our last conversation?”; and so on. Now ask yourself if you were in place of your client would you bother opening or reverting to such a mail every time? You know there will not be any value addition after opening the email or reverting to it. As a client, there is nothing which might strengthen his knowledge about the product or the platform he is going to enter.

When I see a candy I would like to have it!!

What if you could change this traditional thing and provide your client with some valuable content. Clients need to know that every time they open your email they will have something useful and interesting to read which will enhance their knowledge and will be helpful. Even if he does not reply, he would at least read your email and keep you in his mind. One way or the other he will definitely come back to you and give your business.

To switch off the Alarm you need to find the phone.

To find the solution, let’s start by targeting the problem, this scenario generally arises after you have gathered the requirements from the client. You have got the chance for your first impression, be it email or a phone call or a Skype call, it is considered as your first impression (How to improve your first impression is explained in another article). The possible reasons to clients not responding could be:

  1. The client is not satisfied by the way you have gathered the requirement, this arises mostly because you have not asked the relevant questions;
  2. Maybe he is not confident that you are the right person for his need, generally because you might not have had the confidence in your voice/tone of email while communicating;
  3. Maybe he doubts your knowledge about the genre and domain of the project, it is generally seen when you don’t show depth in your knowledge about the app and don’t spend sufficient time discussing the idea or suggesting some good add-on functionality.
  4. And finally the most common of all problems, he does not like your quotation.

So how do you solve such challenges? Don’t worry it is not a rocket science if you noticed then all these problems have something in common and i.e. client is not confident about you, for one or the other reason. So now let us simply target that.

A well informed mind never losses in a conversation.

To develop confidence in the client’s mind, it is very important to flaunt your knowledge. Here are the four things that will help you win client’s confidence:

  • Your understanding about the domain: How deeply do you know about the field that the client is going to enter? Who are his competitors? What are the current strategies and innovation happening in that domain?
  • Your understanding about the complete flow: How many kinds of users will be there (Admin, Super Admin, End User, etc) and what exactly will be the possible actions by them?
  • Your approach towards the project: Provide some suggestions which will help your client stand out of the market, which will help him engage user better and some innovative solutions.
  • Relevant reference to his product: More relevant the reference, the more confident he gets.
  • And yes, most important is the confidence you depict in your voice and tone of emails.

These are the things which help you win clients without even competing with others. Provide him quality and he shall be yours.

You must be complaining that who has time for so many calls and after-all the problem started with him not picking your calls. Well, who said anything about calling them. If you get a chance to speak to your client, well nothing better than that but in 80% of cases, people prefer to be emailed and that is where you would generally communicate.

Focus on helping people and people will start helping you.

Provide your clients with valuable information and something they could use. Even if you don’t win the project you will definitely win their heart and word-of-mount is the best publicity. Here are some tricks to make your clients confident about you through your emails.

Summing up in these 4 steps:

Next time, when you take a follow-up, make sure to do these things. It will take 5 extra minutes of your time but you need to do it every time and your follow-ups will be much more fruitful.

  1. Send your follow-ups with around 3 value adding points, not too details and not too many, just brief, to the point, pointers.
  2. Pointers should highlight:
    • Competitors and their winning strategies,
    • Also tell them about the unsuccessful tried-and-tested strategies,
    • The innovation happening in the field
    • The current challenges,
    • Suggestions from your end to counter those challenges
    • Suggests to help usability of the product,
    • Gaps in understanding the end-user and if client missed some point while describing it to you,
  3. Use some tools like MailTrack to check if your emails are being opened, for how many times and when. This will help you in scheduling your email accordingly to get the best result. Again use tools for scheduling your emails.
  4. Send your emails in an interval of 2 days. It will help in giving enough space to the client and sticking to his memory.

All the information you will need is readily available on the net, you just need to hit the right “enter”.

Try this strategy and be patient if not in first, or in second then definitely by the third email you will get a reply. Even if you don’t get a reply, you will be in his “good-companies” list and he will come back to you or refer you in his circle. Either way, it will be a win-win scenario.

So all the best. I will be sharing more articles covering the complete flow from Client requirement gathering to delivering the project, stay tuned!!

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Full Stack Software Engineer to a Business Developer

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You will not know what you are good at unless you try it. Stop Thinking, Start Acting!!

In my first management role, I helped the company register a 3x growth with 41% hike in revenue, by monetizing the existing data and resources, and introduced them in 2 new verticals. Not big numbers? Well, these are 1-year start when I freshly switched my profile from a Full Stack Developer to a Business Developer.

The perk of being in a Start-up is that you get to try out multiple roles, for me, it has ranged from Project Manager to Business Developer, to Business Strategist and from hearing peers’ poor jokes to planning their personal growth.

Success is the result of HUNGER!!

As a software developer I got recruited in a top IT MNC, 3 months went by pretty smooth. Everything happened in proper sequence; Got JAVA, no bench, worked for one of the biggest clients, great project and amazing peers.

Not long before I realized that technology updates are like Prince Robert’s wife, there is gonna be a new one around the corner every couple of month.

I proactively learning new languages starting with Ext JS and went on to learn Angular JS, Ember JS, Node JS and Mongo DB (of course JAVA that was my core) to a point where I took training sessions within the company.

Oh did I forget to mention that I also developed a POC (proof of concept) project with a 4 member team, to 6 months later give a presentation to a UK client who later awarded us and funded the project. I made official contribution to the Internal Knowledge Repository, which was appreciated by peers globally, which helped me become a consultant developer for 3 internal Ember JS projects.

But probably there was more to life. The growth was slow, I needed more exposure, more power, more opportunity.

No Deal is bigger than your inner feeling !!

With 1.8 years of experience, I got my first opportunity to switch with a hike of 250% (yes, yes Indian developers are cheap) at full stack developer profile in Johannesburg (SA) and with a lucrative opportunity of travel US for understanding clients needs.

Somewhere it didn’t feel right, I loved coding but I was also fairly good at leading teams, gathering requirement, management and understanding the audience.

I respectfully declined the offer to understand what I really wanted to do, with a world full of opportunities.

Reality hitting Hard!

Here I stood for the first time in my life with nothing in hand. I had already quit the job in one of the biggest IT company, I declined the offer letter of a dream job (for me) and I made a blunder in the exam for which I spent 5 months preparing.

The most disturbing part was to not realize the what I really wanted to do, what is my interest. Meanwhile, I was already helping Tech-based companies acquire clients and generate revenues. It did make me feel good to see the companies follow right ethics and grow by providing value to their clients.

After wasting 2 months I decided to change the strategy from thinking to taking action.

Realizing how fast the world is moving!!

I got the exposure of billion-dollar startups making a global impact like Wittyfeed, Appointy, Paytm, Flipkart, and Ola. It became blatantly clear to me that my next target is to work in global market.

The realization led me to an Interview at a 2-year-old startup for Business Developer position with a contract of 1 year, the role was to acquire global clients and grow the company. 3 rounds, 3 hours and the position was mine . “Yes, the game was ON”.

Grabbing it by the balls!!

I worked rigorously, in 3 months I was also handling Project Management, in next 3 months Business Strategy was added, in next 2 months, I was overlooking support, sales, and marketing as well.

You must be thinking that I took it way too fast and should have given it more time to absorb the role, so did my parents. But ask the founder who enjoyed 3x growth at 41% revenue growth, he might have a different story to say. I was tireless, highly motivated, wanted to try too many things and a startup was just the right platform.

The grapes do taste sweet !!

What a ride it was, in the 1 year I was generated 116 global leads, converted 78, and delivered 28 projects successfully. More importantly, in a survey, my Client Happiness Index stands at 75% and my Team Happiness Index was astonishingly high at 98% . I knew I have found my domain.

But I think my true achievement stands neither at 67% conversion rate nor at 75% happiness index, rather it is the fact that I was able to help set right processes, grow the company in 2 new verticals, find ways of monetizing the existing data and resources, and help the team stay motivated towards the goal.

The Journey Began!!

I started giving consultancy to multiple companies majorly across 5 countries. Interacting with the people and traveling to places across the globe definitely opened my horizon.

Every morning I would wake up to read about the success story of my clients and their messages thanking me for the services.

YES I have found my domain but the HUNGER is not yet satisfied.
I ain’t tired and I ain’t stopping !!

6 Learnings of my journey!!

  1. If you are looking for starting a new venture and consulting friends for it, only 5% of all the people you meet would be serious about doing something. So don’t waste your time start already.
  2. Experiment while you can. If you haven’t found your strength, just try new challenges and say YES to everything that comes your way.
  3. Leadership is about making new leaders.
  4. Be the king of one rather than Jack of all.
  5. To be successful you need to be pro-active and keep learning.
  6. Always have big dream but break it into small actions.
  7. Never be satisfied.
The world is too big, the problems are too many, opportunities are endless. Focus on solving real problems do something truly great.
Everything is Possible !!

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Worried About Sales? Simple Tips To Delivery Project On-Time

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For any company the most important part is sales. And the best way to get more sales is by delivering your projects before time and with good quality. Confused? Let me elaborate.

To get more sales you need to market yourself well, and what is a better way to market than your clients doing it for you, YES I mean word-of-mouth publicity. Word-of-mouth publicity is considered to be the strongest and most effective way of marketing, the leads you get from your clients referring you to other clients can have up to a 65% higher conversion rate.

So How do you generate this amazing publicity? Ans: By delivering your services well. For multiple reasons, the most important part in delivery is delivering it on time. By delivering your projects before or on time you can save money, time, take more projects, boost your team morale and generate more leads.

To assure project delivery on time here are 5 basic tips that I have used for 30+ projects and delivered all at least 15 days before the delivery date.

You don’t look for the spatula with the pan on gas!!

Getting the delivery done on-time starts with making the right proposal. Break the project into different modules and specify the functionality of each module with a fixed deadline, I for one, generally divide it into 3-4 modules.

To start with, consult your developers on how much time it takes for them in developing each module. Now add 5-10 days, depending on the depth of each module, to each module’s timeline. You must be thinking my Business Developers are smart enough to judge it by themselves and you may be right, but what’s the harm in taking a second opinion from the cook himself, after all, he knows it better.

Every developer is different and their strengths may vary. A lot of time we underestimate the project’s potential while developers are the right people to judge the possible challenges the requirement may offer.

After this anytime you receive a requirement with a similar feature you would be in good shape to estimate the timeline without the help of your developer. But make sure that for every new feature requirement you consult your developer once, it is a one-time investment but it is worth it.

Without proper ingredients, you can never make a great CAKE!!

These basic ingredients for any project in IT company are the documents. You all know which are the basic documents and which are the ones that you create just to leave a good impression on the client.

The 3 basic types of documents are:

  1. User flow :
    This will help you in covering all the aspects of the project. Lot of time we assume or miss out some aspect of the project which gathering the requirement, this document will help you cover all the pointers so that there are no new flow or surprises.
  2. Per user functionalities:
    Noting down all the functionalities a user case can do helps you break down the project nicely and schedule the project more effectively. It helps in locking the SOW(Scope of Work) so that everyone(client and developer) have their expectations aligned.Also handing over the project to your fellow peer or to move the project from one phase to another of SDLC becomes easy and efficient.
  3. Modular breakdown of projects and it’s timeline:
    Scheduling your deliveries by mentioning the exact dates help you in staying focused and setting the right pace of the project, and it helps the client keep a track of their project and set expectations accordingly.
    This is probably the most important in leaving a good impression on the client, so do it wisely and have proper buffer days for any unexpected troubles.

No matter how big or small the project is you need to have all these 3 documents and there is no exception on leave-out any of these.
Creating a document in the right format is also very important. The flow of each user case should be clearly written and with a clear scope of each functionality. This help the graphic designer set the flow and create a perfect prototype.

It is not a Blind Date it is your life partner!! Know them before marrying.

Before diving in the development phase get your designers on board and create a perfect prototype so that your Clients can imagine how will the end product look like and set the expectations right. Once your prototype is locked you have reduced the scope of surprises to less than 10%. Some of the online prototyping tools are InVision and UXPin, you can find much more online.

Read More: Here is the Difference between UI and UX Design

Now you and the client both know exactly how will each page be displayed, what will be the information showcased on each page, how will each button behave and which action will link to which screen.

When real development starts there will be bare minimum need of confirmation since everything is locked and pre-confirmed, hence the developer can meet the deadlines and manage the speed accordingly.

Development is like surgery if the Doctor doesn’t inform you of the status of the patient, you feel like punching him in the face!!

Communication is the key to any relationship. Although you don’t need any help and have everything that you need for the development, still you need to involve client and keep him updated on the progress. You need to understand that client has his emotions attached with the product and would love to see the progress every once in a while.

It is all good while the things are smooth but what do you do when there is a bug or an error or if you did a blunder. Most of the time we try to keep client oblivious to the problem and just showcase the functionality desired by him, irrespective of the effects your workaround might have.

Never do this, always inform your client about the challenges that you face, he might be angry for a while but will always help you and support you get out of the situation, as a result, he will have more trust and become a long-term loyal client.

Best way to not hinder your development and keep the client happy is by giving him status update emails daily and showing him, in percent, as to how much work is completed, and by keeping a Demo-Call” once in a week. This might take 2 hours of your complete week but will work wonder in your project management.

This is the best time to take referrals from your clients, make a good demo call and he would happily give you more referrals.

A movie is never good if the ending is not sticky!!

You project delivery needs to be the best experience of your complete SDLC. The client will not remember how many times you made him laugh, or wished him on his festivals or took the late-night calls. What matters the most is that last mile, when you are making the website live and he is all excited to showcase his idea to the world. Any trouble there and all your efforts for the past couple of months go for a toss.

To ensure that you make a seamless handover of the project, thorough testing from fresh eyes is a must. Always have your best tester on board at this last step for doing the final testing of the project. Even the very minute of the bug will hurt like a titanic over an ant. I am sure you don’t want to be there.

The places where you need to have your cream focus is on the spelling mistakes, the places where the User first interacts and starts using the application like login and dashboard, and at the validation points. These basic things skip our eyes quite often, especially because we are looking at a much bigger picture hence it becomes even more necessary to have a fresh pair of eyes that can scan every detail.

Epitome of the whole process:

  • Lock the Requirement on each phase,
  • Client Communication: Consult developers before committing anything to the client and never set the expectation too high which you might not be able to reach. Anything extra will please but anything short of commitment will harm
  • Requirement Gathering: Have Proper documentation
    • Flow Diagram
    • Per User functionality
    • Project Breakdown with specific dates
  • Prototyping: Use online tools like InVision or UXPin or any other such product to give clear picture of what exactly is to be expected out of the product,
  • Development Phase: Give status updates daily over email or project management tools like Basecamp, and keep a Demo-Call to showcase the progress of the project and take feedbacks,
  • Testing and Delivery: Get the project tested with fresh pair of eyes which would be interacting with the project for the first time. It is necessary to catch the minor bugs which we are prone to miss.
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