by John Rampton.
Starting a venture and developing your product or service requires working quickly and efficiently. You need to ensure your startup offers value in terms of innovation, quality and convenience, even though you have limited resources and may be racing against the competition to be first to market.
So, how do you strike the perfect balance?
It’s up to the talent you bring in to make this happen. The problems are you (much like myself) have limited funds to hire talent, who may be new to the process. There is an alternative approach that many companies have actually used during the startup phase: outsourced development.
While this may be little known, perhaps because there is considerable controversy over using outsourcing, here are 25 large startups that have succeeded using this strategy to launch their highly-valued businesses:
- Slack: Now valued at nearly $3 billion, this company used outsourcing to develop its solution in its earliest days.
- Fab: This large startup partnered with developers in India to maximize funding while scaling up when their business showed signs of growth.
- Skype: They used a team of developers in Estonia to help them build out their business.
- Klout: To get its technology in the right place before launch, Klout relied on many outsourced developers.
- AppSumo: The company has used many freelancers in various fields, including marketing, content and IT to grow its business.