You are pondering “Who will transform this idea into a real product?”
It is tempting to think that you can assemble your own team that can execute the task in a timely manner. After all, there are many benefits of in-house development.
In-house development means that you will have full control over developing process. From the ground up, you are making sure your developers, ones that you have hand-picked by yourself, know exactly how to use the tools at their disposal to develop software in accordance with your vision. Communication will be straightforward, therefore unexpected changes to the project will be implemented faster.
However, building your own team can be, and most likely will be, a long and taxing procces. It also has high costs. If you hired seasoned industry veterans they will be expensive, if you hired juniors you will have to train them. You have to wait for them to gel as a team.
Also, better hope that the ones you hired understand the difference between building an early stage product from adding features to already established product. This is all assuming that you can find these people and you don’t make any bad hires. All this before you have a product that may or may not be viable.
So, what other options are there?
Outsourcing software development
Outsourcing is the business practice that is referred to the use of external sources for specific tasks that require expertise that is not (yet) available internally or is to expensive.
You can outsource a single task (or a few tasks) or an entire project. Portion of outsourcing depends on your needs and expertise of your team.
What Are The Key Benefits From Outsourcing?
1. Increased Efficiency
A team of experts can start working on a project right away. You won’t be wasting your limited time on hiring, managing or training the team. You can focus on the product instead.
2. Reduced Costs
Hardware and software infrastructure, insurance, paid leave and any employee benefits are taken care by the outsourced company.
3. Rapid Scaling Up And Down
You can easily scale the team up or down at any time during product development. You can completely bypass the hiring process and gain access to specialists that can fill any knowledge gaps. Also, you don’t have to worry about what to do with an extra employee that you no longer need or when the project is done.
4. Shortening The Time To Market
Time to market is crucial for the success of a product. It allows you to get customer feedback quickly, position your product as a market leader, establish the brand for your product, and more.
Outsourcing can significantly speed up your development process, thus shortening the time to market.
Conclusion
Outsourcing is the best option to mitigate risks when you are creating your software product. It can significantly speed up your development process, free up your time and give you much needed flexibility.
Also it saves you all the worries surrounding recruitment and management. Outsourced teams are more efficient and have optimized processes so your employees can focus on their own responsibilities.
Outsourcing can save you both time and money in the long run.