An IT startup company is defined as typically newly emerged, fast-growing business that aims to meet a marketplace need by developing a viable business model. It is about innovation and a vision for designing new models. A good vision is omnipotent; it defies all odds and gets its success. IT industry is going through a Renaissance period now. Every day new products and services are released making it highly competitive and making waves at the same time.
many startups facing many issues to find the trusted IT partner.
Why Find an IT Partner for startup?
A study by IBM Institute for Business Value and Oxford Economics found that 90% of the Indian startup fails due to the lack of innovation. Other reasons stated by the study are the shortage of skilled workforce, poor ethics and lack of funding. Bringing in an IT partner can help to avoid these issues and make the IT startup a success. Many times, IT startup entrepreneurs have a good idea for a business but don’t know how to build the product. They are clueless about how to start or where to look to get the desired results. An IT partner can make a big difference as two heads are always better than one.
The Ideal Qualities of Your IT Partner.
Identify the Role
The first thing to do is, to define the role of the IT partner. Everyone has personal skill sets which are unique, so segregate your skill sets and find the skills needed for the IT startup which cofounder should have. You can almost find people with the complementary skill set by the following methods;
- Check with your friends and inquire about people in your circle who can fill in the show.
- While there are many sites on the internet that can help in this regard. Networking sites like EFactor, LinkedIn, YouNoodle and Meetup can help find people with the desired skill set for the IT startup.
Building a team
A solid team is a very vital step in an IT startup. So after selecting IT partners, work together to create chemistry and establish trust. Check out the following website for good guidance;
- CoFounderLab, Cofounder and Startup Weekend are some websites which give good facts on how to build a good team for the startup.
- StartupNation, founders Network, and Micromentor are sites which give advice and support for entrepreneurs.
Good capital
- Money is important for any IT startup as office space, permits, licenses, inventory, and product development and manufacturing, marketing requires money. So, analyze the following steps to identify your IT partner’s potential.
- Financial stability of the IT partner has is indispensable for a successful startup. Understanding the limit to which the IT partner can invest in the startup is essential.
- Websites like AngelList, Gust and Onevest can help entrepreneurs raise funds that are enough to get a minimum viable product.
- By arranging the capital with IT partner it will be possible to bootstrap operations and grow without any outside capital. That means the business will run exactly how the founders want.
When an exceptional IT team does something different, it gets noticed by the world. IT startups are agile, adaptive and can overtake corporates in the innovation race. With good inputs from IT partners, an innovative IT startup can shake up roads, skies and everything in between.
