How to make a profit with a startup idea in IT

The business sphere is becoming increasingly dependent on modern technologies. Expert opinion is that business is starting to be competitive using modern technologies, services, and automation tools. More advanced companies become more efficient and displace organizations that work according to the "old rules" from the market.

Today, the business software market is developing at a tremendous speed. Business entrepreneurs can find both universal software solutions and specialized ones. They should be aimed at addressing the needs of companies in a particular industry. 

Business is involved in creating custom digital solutions for the consumer. Some entrepreneurs run their businesses precisely based on technological solutions. In both cases, it is a start-up. Developing software solutions from scratch to order is a difficult task. PNN Soft decided to help you understand this issue.

The business industry is involved in the creation of new methods. Namely, it focuses on the development of custom digital solutions for the consumer. Many entrepreneurs are starting to launch their businesses based on technological solutions that ultimately should bring the company a good result. In both cases, we are talking about a professional startup idea in IT. Developing software solutions from scratch to order is a difficult task, and requires the efforts of a qualified team. PNN Soft decided to help sort out this issue.

First, set a baseline, having a clear idea of the product you want to produce

The first steps to the effective implementation of the project. Beforehand, you need to decide on the direction. That is, to work on the idea, to determine its scale and your capital investments in the project. Then you should know in which area the development will be carried out. For example, if this is a mobile application, then for which operating system, what do you want to see in it in the future? After that, be ready to contact the IT company for advice. It is important to think about the nuances in advance and understand the scope of the project and its specialization for choosing a company. Today, PNN Soft is a developer company in the modern IT market for 20 years and has been developing software solutions for medium and large businesses and companies. Therefore, for reliable and high-quality development of a mobile game or a one-page website, a more relevant solution would be to contact a company that specializes in tasks of this kind. For this very reason, it is worth considering the specialization of the IT company. It means, that developers of computer RPG games will never take up the development of systems for collecting data on utility meters.

The most optimal way to implement a startup idea

If you nerrow the list of companies to those that are ready to work with you and those you want to work with - you need to hold a meeting. At the beginning of the project discuss the technical issues, deadlines, the price of services, future support and copyrights for the final product. Choosing the most suitable company for you will provide a guarantee of success. Today, it is possible not to be a participant in the development, as the IT company can implement your idea independently.

All you need for your startup development: Front-End, Back-End, Blockchain, Mobile/Software Development, DevOps, UX Design & Research, Startup Consulting

Nevertheless, some qualities can make it possible to understand the abilities of the candidates of a successful team. One of them is the provision of a full cycle of services. A qualified development team can provide a full range of services. Starting with business project planning, cost estimation, design, and software development.

Software requirements. What should I know about this at the start?

A business choosing ready-made software on the market is interested in having a full set of rights to the purchased software product. For example, you can use it at your discretion, modify it for your own needs or further sale, or distribute modified versions, including on a commercial basis. The above rights can be obtained by a leading business in several ways:

• The first. This is to purchase the necessary set of rights from the manufacturer of the software product.
• The second. This is to develop the software yourself. For example, by the work of their programmers or by outsourcing the development).
• The third. This is to use ready-made software, with a set of tools and rights.

Outsourcing or Offshore development. What would be the right choice?

In recent years, there has been a trend in the field of production as a result of globalization. Outsourcing and offshore solutions are very popular today. Let's analyze the terms.

Outsourcing is an external source. Outsourcing services imply the transfer of certain functions to specialists of another company. As a rule, this applies to non-core industries. What is pushing the business to turn to outsourcing? First of all, the desire is in the correct construction of time for the areas accompanying the main activities, such as software, accounting, and maintenance.  Recently, this solution has been actively developed in response to the demand for contractors' services.

The essence of outsourcing is that it is a great opportunity for the customer to reduce the company's costs for paying taxes, sick leave, vacations, contributions to pension funds, and other things. The main advantage of outsourcing is that it helps the customer to concentrate on their main production.

What is offshoring? Offshoring involves the transfer of a business or a separate business process to another country. Almost any type of business can use offshoring strategies. But, it is traditionally believed that it is the direction of Information Technology services. Offshore software development has become a winning solution for most areas of business that want to expand without significantly increasing their costs. 

The advantages of offshoring are the cost of production, higher availability of qualified specialists, and more efficient work through a global talent pool.

What else do you need to pay attention to in order for the development of a startup idea to be successful?

You should identify your potential client. The content of the product, its design, and the context of communication with the consumer through a digital product will depend on this.

After the product is released to the market, it is important to track the download of the application or the frequency of software installations. Carefully study the requests for the support service. Also, it is important to take into account not only technical aspects (which are solved by IT specialists), but also to satisfy other consumer requests (within reasonable and affordable limits). The first reviews and your response form the first impression of the product and its owner. 

What are your expectations? First, you need to identify a few points. The first is what you expect as a result of the product launch and at what time. The second is how much your expectations will be met determines success. Put them in front of yourself and the executive team throughout the development process in order to achieve the best possible result.

Implementation of IT solutions that are implemented as independent products

Modern, dynamically developing companies are increasingly considering information technology as a key factor in development. Regardless of the type and purpose, business software is an excellent solution that will facilitate the management of your business (whether it is a separate enterprise or a small team). 

We are talking about using IT, which exists as an independent product, bearing a good profit. The software will allow you to make decisions faster, respond quickly to various problems and systematically find solutions.

Ultimately, the best solution for the market as a whole depends on the needs of its participants.