If you want to scale up, the first thing you have to do is to expand your own team - Ruth Simmons (President of Prairie View A&M University)
Have you utilized the funds’ full efficiency and created your mark? If you answered affirmatively thereto, the probabilities are, from humble beginnings, you have proved the good of your product & services to investors and went through the Series B funding. It is time to upscale - unlock new opportunities, expand your team & depend upon its strengths, and explore new markets. This part of the journey is not as straightforward as it might sound, but there are positives that you simply will transfer from your experiences of operating with a smaller team.
Approximately 30% of startups typically fail at the tip of the second year, ideally some months when receiving the Series B funding.
An important factor to stay in mind whereas scaling up is, surplus changes might derail an antecedent sure-fire business. Will the present team have capabilities? Are there tasks that require further expertise? Were there any problems throughout the initial phases that were overwhelming and required addressing before you scale up? These are several queries you would like to raise yourself before taking a decision.
Different startups might face completely different challenges when scaling up. Talent shortage, compromising talent quality, and time-bound hiring delays are among the foremost common hurdles. To seek out product-market work, they must own a reliable engineering team that may quickly develop the merchandise and adapts to promote feedback.
On the opposite hand, thanks to the inconvenience of the proper talent unavailability, startups compromise on talent quality. This might lead to product failures, rework, and, eventually, monetary losses. If they arrange to wait until they realize the proper talent, it is going to lead to hiring delays that are equally dangerous.
So, what can be done to tackle these challenges? Is there one solution to all these hurdles in scaling up?
Yes, there is!
Offshoring, outsourcing, or co-sourcing, all of these can help you overcome the above challenges with ease. These help you to access high-quality talent within limited resources. And if you choose a strategic offshore destination, it can be beneficial more than you ever thought. Here we will tell you how India can be one of the best destinations to co-source the project!
Offshoring to India
India encompasses a giant talent pool. Channelizing funds to make an offshore team with the proper partner in India reduces hiring efforts and ensures that you simply get the simplest talent at the value. This eliminates the necessity to compromise on skills and experience altogether. Continuous operations, increased quality of product & services, reduced time-to-market, and high client satisfaction are among the first blessings that it offers.
The pay of a computer engineer within the U.S. generally ranges from US$82,000 to US$120,000. On the other hand, the engineer’s pay in India is between US$12,083 and US$14,768.
Another very important thought for scaling up with an offshore team is that it permits you a lot of flexibility to specialize in essential business functions by transferring the responsibility of some social control & operational tasks to your offshore team whereas at the same time reducing overheads. An extended offshore team facilitates wider personnel handiness, that empowers you to serve a worldwide client base.
With the right offshoring partner such as Braves Technologies, you will be able to upscale by having a team in India at half the cost of what you would find within the U.S. They tend to build offshore groups that match your clients’ precise necessities and supply them with the simplest infrastructure. This can create it convenient for you to align them along with your business goals. If you are feeling that the team is well-adapted to your company’s processes and need to start operations in India, you can ask to transfer the team’s possession to you.
Scaling up your startup or small business team might look like increasing the headcount. But, it has more to it! Talent retention, quality hiring, process defining, and majorly huge investment, to which offshoring or co-sourcing comes in a form of a boon!