For entrepreneurs and software engineers alike, there’s nothing more exhilarating than being part of a startup with the idea that’s bound to “change the world.” And it’s no wonder they’re excited.
- $1.6 trillion - The U.S. tech market economy is the largest in the world.
- 47 percent - The increase in the number of tech startups since 2010
- $100 million – The revenue that 20 exceptional tech startups reach each year
- 63 percent – The staggering annual failure of tech startups
Why do so many startups fail each year—and why do so few of the rest strike it rich? They fail to get their products and the supporting software to market in time to beat their competitors to the punch—and they use all of their precious capital doing it.
The Paradox That Prevents Turning Great Ideas Into Remarkable Products
You want the smartest engineers and developers if you’re to build the cutting-edge software that will power the next Netflix or Facebook, right? And they want to start clean, use ultra-modern techniques, languages, and tools to build a system that scales to accommodate millions of customers and billions of transactions. But for startups, this presents a conundrum.
- Your team is limited. You have a handful of engineers, not an army of developers. Even the most dedicated talent can’t boil the ocean in a day.
- Your window of opportunity is limited. If you’re trying to beat potential competitors, you don’t have a year or two or more to build your core software.
- Your funds are limited. Remember, you’re not a Netflix or Facebook—yet. Even with venture capital, you need to get to market fast to start attracting customers.
- Your user-base is limited. As a startup, you don’t yet have millions of customers—do you need to build a system to handle such capacity at launch?
- As a result, your future may be limited. Spend too much time and money to get your product out the door, and your dream company may quickly become a statistic.
To beat the paradox, look to an experienced technology partner with years of experience helping startups get their software products developed and launched in months, not years. Working with your core team—large or small—JBS can help determine the components most critical for launch, apply the most appropriate technologies and best practices, develop the application, and ensure your team can adequately support it.