tiistai, 25. tammikuu 2022

10 Pro Tips for Young and Ambitious Entrepreneurs to Succeed in Business

Starting a business on your own is not a walk in the park. There are many sacrifices to be made and Midnight oil to be burned. How to succeed in business is the dilemma faced by every new entrepreneur.

 

Like mushrooms on a rainy day, many businesses are budding daily and looking at the statistics, now these mushrooms dry out after the rain.

 

That's why you need your business to be successful like a Giant oak that stands tall and proud in the Jungle.

To keep the ship afloat, you, as its Captain, need to make Monumental decisions. We are here to help you on your cruise to success.

 

Let's dive right in and load your arsenal with some successful business tips to remember.

 

1. Start Small Dream Big

Start on a small scale before going all out. Now people perceive entrepreneurs as colossal risk-takers, but the truth is that you shouldn't risk everything.

 

You need to slowly assess the market by introducing your product to the market. Make changes according to the feedback you receive and grow.

 

When your product is new, there are bound to be things that need to be changed to make it people-friendly. Don't be afraid to make the change or be demotivated by the feedback. Scaling up the business is your aim, and these are the initial steps that will help you make that happen.

 

Experience is the best way to learn. There will be insights or experiences that you might not have imagined even in your wildest dreams by slowly introducing your product to the market.

 

Amazon started their business selling books from a small room by selling the books. Jeff Bezos thought he could sell books online, he could sell anything, and he scaled. From books, he scaled up. Just like that, starting small always has its perks.

 

Like a coin having two sides, starting small also has disadvantages when large companies become your competition or counterfeit products encroach the market.

 

So plan on succeeding in business and making your product or service unique that it solely is yours.

 

Performing market research is important to plan a clear strategy for differentiating your idea.

 

2. Business plan

Having a great product in your hands is just a job half done. You need to have a business plan that can ensure the success of your business. Without a plan, you will have all the pieces to build a beautiful DIY table but don't have an instruction manual on how to do it. 

 

Writing a business plan can also help your partners and employees be on the same page as you. They will get a clear understanding of what they are working towards. There are many ways to put forward your business plan to your stakeholders and companions quickly in this digital era.

 

By using the business planning tools available, you can ensure consistency and efficient workflow.

While running a marathon, you can run faster and more persistently towards the finish line if you know where the finish line is. Just like that, if you can set a written goal to be completed, you will work hard to achieve that.

 

You can set a long time goal that you can incorporate into your business plan, and you can set a short time goal that you want to achieve faster.

 

3. Learn as You Grow

Once you start your business, you will receive many opportunities to learn as you go. New technology is introduced every day, and something new is coming up to make our lives easy. You need to be aware of what is happening around you to be one step ahead of your competition.

 

Just like learning about new things, learning from past experiences is also crucial when it comes to building a successful business.

 

There are bound to be setbacks when starting something new, but if you can be flexible and adequately evaluate why and how this happened, you can prevent it from happening in the future. Adjust your business plan according to the new Insights.

 

Learning from experienced people, Mentors, joining industrial Conventions and any other opportunity to get the maximum information about the industry you are planning to invest in will be an added advantage.

 

This will help you get to where you want to be from where you are. Their success tips and knowing where things have gone right and wrong for them will be a priceless asset for you.

 

Facebook, now known as Meta, started out as an app that was made to help people connect with each other easily. Just look at how they have upgraded with their growth.

 

Explore some successful businesses that started small and then took the market by storm.

 

4. Money Management

According to a study by CBS Insights, startups fail in their initial five years. Money mismanagement is among the key reasons why this happens.

 

Here are the other reasons startups fail!

 

The amount of capital you invest in running your business should be a calculated risk. Mixing personal and business expenses is a bad idea; always keep track of your income and expenses.

 

No amount should be spent on unnecessary expenses, and you need to save money Wherever you get the chance. Money management should be incorporated into your business plan so that you don't run out of fuel mid-flight.

 

For a business to be successful, the company should profit even if the profit range is small. Success is not achieved overnight, so if you wish to climb the corporate ladder, you need to be careful with the funds.

 

Also Read: Raising Startup Investment: Finding the Right Investors & Alternative Fundings.

 

5. Human Relations

In this highly digital world, the power of human relations is growing. When we try to connect positively with the world, they will respond similarly.

 

With new businesses coming up every day, the easiest way to gain people's trust is by providing them with the best customer service possible. Invest in Educating your employees on the best practices while dealing with your customer, and you will see the difference it can make.

 

Read these tips and keep them in your mind to acquire customers for your business.

 

Now let's go within the business; employees and partners are also humans. They will have requests and inquiries. If you set up a good HR team, they will help you get the right employee and have a direct link for the employee to raise a concern in the workplace. Looking out for your colleagues is the best way to ensure Loyalty among employees and succeed in business.

 

Chick-fil-A is a company that has an impeccable customer service team. They say this is because they invest in the growth of their employees. They have the best human relationships, both within and outside.

 

6. Hiring Right

Hiring plays a vital role in Gathering Talent, which is required in the growth of your business. There is no need for Sudden recruitment. You can hire slow but hire quality people.

 

The company you are striving to build has long-term goals, and you want people you can depend on throughout the journey.

 

Always have a plan for effective recruitment. For example, in the early stages of manufacturing a product or service, you need engineers and not a sales and marketing team. So hiring the right people at the right time is crucial.

 

This startup guide will help you understand what you should consider when bringing on early team members.

 

Apple just had 5 people at the beginning, but they were the right people for the job. They made a successful business from a garage. A quality team is better than quantity.

 

After hiring, you need to align your team structure for seamless business growth.

 

7. Reward Your Team

Every employee is entitled to receive certain benefits for joining a company, such as insurance, allowances, bonuses, paid vacation, etc.

 

These benefits attract quality employees, and when the employees feel like the company has got their back, they will return the favour by giving their Absolute best.

 

Rewards and other bonuses can be provided to initiate positive feedback to hardworking people in the company.

 

This ensures positive reinforcement for their work, and they will be encouraged to work harder and efficiently.

Look into your competition or similar companies on what benefits they offer, and this will give you a brief idea of ​​what an average employee is expecting from a company.

 

At Netflix, salaried employees can take fully paid Unlimited parental leave. The amount of time is approved beforehand.

 

8. Growth Strategy

You need an actionable growth strategy in place to make a profit from your business. If you don't plan to scale up, you will have difficulty staying in the market. Even with successful entrepreneurs, scaling up is an arduous task.

 

Your business will scale up gradually, but you should have a detailed strategy like new hiring, more office space, more distribution channels, more marketing ideas, and many more. You can't figure these things out on the go; improvisation on these technical aspects of your growth will mean bad news.

 

Software development companies have a high potential for Sudden growth. For example, Signal, the private chat app, was temporarily down due to a Sudden boom in users. So in the software industry, it is always necessary to have a scale-up plan. Without a strategy, growth can turn out to be a dangerous move.

 

9. Marketing

A great marketing team drives the growth of your business. With the right marketing team, your product will get the attention of your targeted customers well before the actual launch of the product.

 

The Vital aspect of marketing is listening to your customers, they could give you a more honest opinion on what they expect from your product or service, and you could make the changes accordingly.

 

The help offered by social media in marketing a product is huge. Nowadays,  affiliate marketing through influencers is booming. People trust the words of these influencers and try the product. If you have the right brains behind you, reaching the customers is not a herculean task.

 

RedBull used to fill up all the garbage cans with their empty soda as part of their marketing strategy. They believed people tend to lean towards products that seem mass approved. So to create this feeling, they filled the garbage cans to make it look like everybody is drinking RedBull, and it worked.

 

A great marketing team sells feelings, not products.

 

Read the 13 Effective App Marketing Strategies for Startups.

 

10. Sales Process

After the product is in the market, the rest is up to the sales team to sell your product and convince the targeted market. So hiring the right people for the job is crucial.

 

Giving an option for people to contact you quickly is essential. People expect a fast response, and with the help of the technology available, you can make that possible. By using chatbot software, powered by Artificial Intelligence your customers could easily get a faster reply, which will undoubtedly help you gain more customers.

 

Takeaway

Being a business owner is hard work, and it requires a persistent mindset to succeed. Many businesses have the potential scale, but many struggles to stay on top. It takes time for a small business or a startup to grow and create a name for itself. There are many business and business models to choose from.

 

Do your research, collect every information you can find and then select the best business that you can start, and devise many strategies to make it profitable. As an example for selecting a business, consider mobile applications. They are something that will be in perpetual need as long as we are using smartphones.

 

The above tips will help you understand what you need to do in order to make your business successful. Now, read some tips on turning your invention ideas into profitable products vital to your business success.

 

Please take what you learned here today and bring it into action. In no time, you'll be en route to success.

 

Want to get more tips to succeed in your business? Subscribe to our newsletter to get the latest content.

keskiviikko, 19. tammikuu 2022

10 Ways to Launch a Tech Startup Without a Tech Background [Infographic]

Can you start a tech startup without any tech background?

 

The troubling question in the minds of young entrepreneurs who want to start their business in the tech industry, and yes, it is good to have a relationship with technology while starting a tech startup.

 

But we have Alibaba, Airbnb, Tinder and many more who contradicts that with their Massive success worldwide. These companies were the brainchildren of people from non-technical backgrounds.

 

If you have an idea for a tech startup and are afraid that things might go south, these are some of the names you can keep in mind. Building a tech company without technical expertise is challenging but not impossible. You have to work harder and smarter for your business to succeed. If you have a strong passion and skills to create a successful business, technical knowledge is just a hurdle along the way.

 

Don't be overwhelmed by the thought of starting a business with a non-technical background.

The Internet has a vast collection of blogs on how to do this. Rather than going through all that information, we at  NeoITO have devised an infographic that will help you put your mind at ease and give you the tools to Conquer the impossible.

 

This pictorial representation of data will create an image in stone in your mind that reading 2000 words can't do, and the cool part is that you just need one look to get the information you need.

Dive right in and let the pictures do the talking.

 

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Now you know, it is possible for a non-tech person to launch a startup! Dive right into the complete blog of launching a tech startup as a non-tech person to know more in detail.

 

But before you are planning to launch a  startup, keep in mind that 3 out of 4 startups fail within the first year. So, read the common mistakes that could lead to your startup failure! Understand them and guide your startup business to success.

maanantai, 10. tammikuu 2022

How Much Does it Cost to Create an App Like Netflix

If you look back to your childhood there was a time when families sat together in front of their TV sets to watch their favourite shows together. But, with the development of web and mobile app Innovations, online video streaming apps are pushing the old TVs to the drawing-room Corners.

 

And when we think of online streaming shows, the first app that comes to mind for now of us is Netflix, and for good reason, it is now the most dominant source for streaming movies and TV shows worldwide.

 

About Netflix

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Netflix started in 1997 by Marc Randolph and Reed Hastings as a company that pioneered the concept of renting DVDs by mail along with an idea of ​​charging a flat monthly fee. By 2007, Netflix introduced the feature that let subscribers stream TV shows and movies directly to their PCs. By 2012, Netflix took up an active role as a Distributor and producer for both Films and television series. 


Topping the list of movie streaming apps for Android and iOS platforms, Netflix offers an impressive library of content to watch, including original programs, movies and series from different languages. And this is the reason why Netflix has paid subscribers in over 190 countries.


The prominence of movies and series of streaming apps in a users' life has made both users and businesses understand the role of such apps in the present and the future of the entertainment world.

 

According to Statistics

Netflix-statics.jpg

  • Netflix holds 71% of the global streaming video on-demand market
  • It captures 63% of the market in the USA
  • The video streaming industry is predicted to hit $ 73.9B by 2024
  • By 2020, Netflix will be available in around 114M households
  • The average time a user spends on watching TV is now just 25 minutes a day
  • 60% of millennials and Gen Z watch streaming videos daily

 

Advantages of Netflix

  • Top-notch streaming
  • Unique substance
  • Commercial free
  • 30-day free trial
  • Wide range of 'Original TV shows'
  • Offers high-interest movies and series
  • Download content and watch it offline
  • Affordable membership plans
  • Quality-driven content
  • Create favorite lists Parental controls
  • Stream on multiple devices at once (premium plan)

 

How to Develop a Video Streaming App Like Netflix?

The video streaming platform can be built either from scratch or a clone of a video streaming app can be modified as per your requirements. Considering the requirements, development budget, and time frame, one needs to choose a suitable development process.

 

Video streaming apps can be developed according to your personalized ideas and strategies but for the same, it is important to hire a skilled mobile app development company. The following are the main features of an on-demand video streaming platform.

 

  • User Registration Module and Login
  • User Profile
  • Live video streaming
  • Secure Transactions & Payment Gateway
  • Multi-language support
  • Multi-device support
  • Content search
  • Create video Playlists
  • Settings / controls
  • Download / watch offline
  • Social login / Sign-up
  • Push Notifications
  • Share Playlists
  • Video Resolutions
  • Review & Ratings

 

Steps You should Undertake before Creating an App like Netflix

1. Develop a Unique Strategy

Every app starts with an idea. Set a unique strategy; define how your app needs to work and what are the features to include.

 

A few questions you can ask yourself:

  • What features should you include?
  • What are the effective app marketing strategies?
  • How do you create content for your video streaming app?
  • Does your app's interface meet varying cultural and language expectations?

 

2. Choose the Desired Platform

 

Launching an app like Netflix is ​​a complex project. So, it is better to start with an MVP  (minimum viable product) which you can further modify according to the market feedback.

 

If you wish to cover a larger user base then, it's better to choose a cross-platform app development where you can create an app for both the platforms.

 

3. Hire an Efficient Team

 

To create an efficient app you need to choose a talented team that can make the best use of different frameworks to deliver a cost-effective development process.

 

The team includes: Software Architects, Business Analysts, UI / UX Designers, Android / iOS Developers, Testers, and Project Managers.

 

4. App Designing

Researches have proved that a high-quality UI / UX design can create 200% to 400% of conversion rates. So, if you think spending too much on the design part is a waste of money and time, then think again. Because, the final goal is to provide the users with an impeccable & Flawless experience.

 

Here are 7 things for you to remember while designing your product (app).

 

5. Pick the Right Technology for Development

Along with choosing the perfect team, design concept and platform, you will also have to choose the right technology stack for building a live video streaming app.

Below is a list of current in-demand tools for building a video streaming app:

  • Programming languages ​​& frameworks for a web app : C ++, HTML5 / CSS3, Java, JavaScript (Node.js, React, AngularJS, Vue.js), Python, Ruby (Ruby on Rails).
  • Programming languages ​​for mobile app: Kotlin / Java (for Android); Swift, React native and flutter (for iOS).
  • Front-endAngular, Vue.j, React and RxJS, Falcor (a JavaScript library developed by Netflix).
  • Databases: MySQL, PostgreSQL, Cassandra, Oracle.
  • Big Data Tools: Hadoop, Parquet, Pig, Presto, Spark, Kafka Analytics and Insights: Google Mobile App Analytics, Flurry Analytics, Hive, MixPanel, Localytics.
  • CDN services: Amazon CloudFront, Cloudflare, Fastly, Open Connect.
  • Streaming Protocols: RTMP, Adobe HTTP Dynamic Streaming, Apple HTTP Live Streaming, Microsoft Smooth Streaming, WebRTC.
  • Media formats: AVI, DMW, MOV, FLV, WMV, SWF, MKV, MP4, AVCHD.
Read also:  Best Video Conferencing Apps 2020

 

6. Build your Content

Since content is the base of your video streaming app, it's important to determine what type of content you prefer to use, Is it videos from other distributors? Or is it your own original content?

 

Either way, the choice completely depends on the business goals and requires authorized Licensing.

 

7. Monetization Model

To start with, first give the users an optional free trial for a month and then proceed to a paid subscription. This would give the user an idea about the app and the content. For an on-demand video streaming app you have 3 different ways of monetization:

  • Pay-per-view:  PPV only charges the user when a service is used; it's a straightforward pricing scheme.
  • Advertising:  It's a strategic use of an advertising medium to reach a specific target audience.
  • Subscription:  This is the monetization strategy that is used by Netflix. Subscribers are charged according to their plan. If you can regularly update the content to the app, then this would be the ideal monetization model. Go for flexible subscription models that allow users monthly, quarterly, or yearly plans.

8. Payment Gateway

If your app is going to use an operating system from Google or Apple then you need not create a separate payment gateway as they both have their payment systems. Some of the other payment integrations are PayPal, Stripe or Braintree.

 

9. Integration with Social Media Networks

 

The social media integration feature on your VOD app is a great way to promote the app online. Including such options allows users to share links on their social media platforms which will in turn help you improve app visibility & encourage more people to download the app.

 

Having social media login options, Apart from the usual email login or user name option will also be helpful.

 

10. Multiple language support

 

This feature is helpful to target regional audiences from different countries.

 

Cost to Create a Video-Streaming App

The cost of app development depends on the following factors:

  • App Design
  • Technology stack
  • App Features
  • Hourly rate of Developers
  • Development timeline

The now significant variable here is the Hourly rates. See how Hourly rates differ depending on the region:

cost-to-create-a-video-streaming-apps.PN

Because of the differences in price range, a video streaming app with the same set of features and technology stack can cost you from  $ 30,000 to $ 200,000  depending on the country where the app development company is situated.

 

Final thoughts

 

Performance is the key to every successful online video streaming platform and there is no short road to it. Though there are already many great players in this industry, the market is far from saturated. Beyond the question, Netflix is ​​an Ultimate Game-changer in the video-on-demand industry and has brought out Limitless opportunities for online streaming.

 

Are you planning to launch a video streaming app with custom features? A team of true professionals can turn your ideas into a unique application.   

 

So if you are ready to switch from ideation to development, then connect with NeoITO, a  web and mobile app development company with expertise in developing mobile and web applications across different platforms.

maanantai, 3. tammikuu 2022

Top 10 Benefits of Agile Methodology in Software Development

Today, Agile stands as one of the most popular approaches that every tech company seems to practice for software development. It is due to its flexibility and Evolutionary nature.  

 

According to the 2018 report from  kiss flow , projects that used Agile methods are 28% more successful and nearly 71% of companies use Agile with varying frequencies.

 

So, What is Agile?

 

Agile was launched in 2001 when 17 technologists drafted the  Agile Manifesto for Software development.

 

With the goal of  developing a better mobile app  or web app, they wrote four major principles for Agile project management:

  • Individuals and interactions over processes and tools:  Humans perform software development, therefore the quality of interaction between them is Vital. Though tools are an important part of software development, focusing more on teamwork regardless of the tools the team uses makes great software.
  • Working software over comprehensive documentation:  For users and coworkers, documentation can be a great resource. However, software development aims to build software that delivers business benefits rather than vast documentation.
  • Customer Collaboration over contract negotiation:  The software development team communicates with customers Frequently. By listening to and getting their feedback, the team will understand what stakeholders want.
  • Responding to change over the following plan:  In software development, changes are a reality that your software process should reflect. A project plan should be flexible enough to change as the different cases demand.

 

The authors of the Agile Manifesto chose the word 'Agile' for the whole idea. It is because the word represented the adaptability and response to change, which was crucial to their approach.

 

Now, What is Agile Software Development?

 

Agile software development refers to any development process that is aligned with the concepts of the Agile Manifesto.

 

Following their values ​​and principles, Developers build their software in incremental, rapid cycles, instead of delivering it all at once near the end.

 

It works by breaking projects down into a little bit of user functionality, prioritizing them, and then delivering them continuously in 2-4 cycles called  Sprints or Iterations. In one short sprint (2-4 weeks), the full development cycle is performed. It includes analysis, design, coding, testing, and product release.

 

At the end of each Sprint, Developers release a working software solution, and the performance is evaluated by the customer. The Lessons learned in each Sprint are captured in retrospectives and used in the next iterations.

 

So the next Sprint will be the improved version of the prior Sprint. In this way, the products are constantly improved and also the product development process.

 

The Benefits of Agile Development Methodology

 

Agile methodology is suitable for businesses that are looking to Transform the way they manage their projects and the way they operate them as a whole. It helps teams manage work more efficiently and effectively and deliver the highest quality product while staying within the budget.

 

So, if you are a startup looking to develop a mobile app or a web app and approach a reliable team that follows the Agile methodology. These are the benefits you are going to receive:

 

1. High-quality product

2. Reduces technical debt

3. Increased adaptability

4. User-focused testing

5. Creates total alignment and transparency

6. Reduced risk

7. Increased customer Satisfaction

8. Improves time to market

9. Early and predictable delivery

10. Better project control

 

1. High-quality product

When using Agile methods for software development, the development team does not attempt to develop all features at once. Instead, they divide the project into manageable units to focus on high-quality development, testing, and collaboration.

 

After each iteration, they conduct testing and ask for reviews from the product owner, which is you. This method helps the team to identify expectation mismatches in the early stages of development and also helps to find and fix bugs quickly. Working on these incremental releases will ensure that each iteration results in a fully tested and working product. This way the quality of the product is improved.

 

2. Reduces technical debt

 

It refers to the maintenance tasks that are needed to support the existing product. It includes defect resolution, refactoring, and testing.

Agile methodology helps to keep the technical debt to a minimum. If any changes in features, defects, or other maintenance tasks are needed, they are added to the "product backlog."

 

Before each Sprint planning session, the team reviews the backlog to determine the issues that should be addressed next. Thus, each Sprint gives a new opportunity to address defects along with new feature development.

 

3. Increased adaptability

Agile Methodology Increased adaptability

Adaptability or agility is one of the key benefits of Agile because it matters at every level of the organization.

 

But how does Adaptability matter?

 

As organizations grow, they become more complex. And it is inevitable!

 

As anything becomes more complex, it tends to become slower. Due to the undisciplined changes in the rules of startups in every industry, incumbent players must keep up.

 

So, to remain competitive, organizations focus on speed, but speed without a proper strategy and efficiency cannot help you build a more efficient system. This is the reason why many companies are turning to Agile. It enables their team to plan and complete work in small pieces.

 

In traditional software project management methods, organizations must spend more energy adjusting the plan due to changes in requirements, market conditions, etc. And it takes more time.

But in Agile, the teams can easily make changes in the plan without giving so much effort because they release iteratively and receive feedback after each iteration.

 

So if there is any change or maintenance, it is added to the backlog and allotted to the next Sprint considering its priority and business need.

 

4. User-focused testing

 

Agile is more than just adapting to change. The goal is to deliver what is now important to the customer. When you work along with your development team, it helps them understand more about your expectations. Here, your requirements are represented as “user stories.”

 

When adopting Agile, the team considers a humongous task as “Epic”.

This body of work is segmented into particular tasks called “user stories,” based on the customer’s needs.

 

So, it means an epic includes multiple user stories. These user stories can be broken down into tasks and sub-tasks.

 

This way, teams can break down their work. So that large projects can be done efficiently. In addition, it helps the team to offer value to the customer.

 

The concept of user stories is a clear contrast to the lengthy requirement list developed in a traditional development methodology.

 

5. Creates total alignment and transparency

 

Agile development requires involvement and Collaboration that one would not find in a traditional approach like the waterfall model.

In the Agile method, before each iteration, the whole team reviews validates and agrees on which user stories they should include in the particular iteration.

 

The software Developers, analysts, testers, and the customer work together to accomplish the features assigned to Sprint. The team conducts daily meetings to keep everyone on track. Throughout the iteration, each team member verifies each new feature added and works closely with the Developers. It allows them to make sure that they meet your needs.

 

6. Reduced risk

Agile Methodology Reduced risk

There is often a level of uncertainty in the traditional approach that doesn't normally appear in Agile software development.

 

In the traditional method, it is possible to do product testing only at the end of the project. However, waiting until the end to perform testing leaves the team unsure if the product meets your requirements.

 

But if you approach the Agile method for your web app or mobile app development, this risk is reduced. Developing a product in a Sprint allows the team to find out if they are on track.

 

Product testing is done after each iteration, and you give them feedback after each iteration. It allows the team to ensure that they are producing value at every release.

 
Also Read:  How to Manage Risks in Software Development

 

7. Increased customer Satisfaction

 

In traditional methodology, development teams give time estimates to deliver a user story in a format: days, weeks, and months. However, many Agile teams have transitioned to “story points.”

 

When the team takes user stories for implementation, they will estimate their complexity using different estimation techniques. One of the popular techniques we use is “Planning Poker”.

 

Based on this technique, every team member will start discussing each story's story points. The teams will assign story points to each story based on the factors such as work complexity, the amount of work, and the risk or uncertainty.

 

For instance, consider the user story: to change the colour of an existing UI button. As it is a less complex task, the estimated story point that the team member might assign will be number “1”.

 

For a bit more complex task, the estimated story point will be 2. Likewise, the Estimation number will change according to the complexity of the feature and the other factors mentioned above.

 

At the beginning of a particular Sprint, the team takes the first 10 tasks and assigns story points. For example, if the sum of the story points is 100, their initial commitment will be to complete 100 story points in the particular Sprint.

 

Based on the tasks completed, the story points are closed, which will be reduced from 100. It is called Burn down.

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Based on the story points closed (according to the tasks completed), the team's Burn down chart will progress. This way the team's performance will be evaluated.

 

Around two sprints later, the team will get to know how this trend actually works. It means over time, they will understand how much Estimation they can commit for a Sprint.

 

Suppose they failed to complete 100 story points in each Sprint but completed 70 story points. Then, the team understands their capacity to meet a commitment and can plan the next Sprint accordingly.

 

Story points reward team members for Solving issues based on their complexity, not time spent. This keeps team members focus on shipping value, not spending time.

 

In Agile, customers (you) can participate in sprints. Keeping you in the loop and making changes based on your feedback will help the team ensure that your needs are being met.

 

After each Sprint, seeing a working product will help you realize that your team can deliver Releases fast and Frequently. In addition, it makes sure that the final product they release will be according to your expectations.

 

8. Improves time to market

 

Another great advantage of the Agile method is that it significantly reduces the go-to-market time. This lets you capitalize on the opportunity successfully. In some cases, you can enjoy the first-mover advantage.

 

9. Early and predictable delivery

 

Using time-boxed and fixed schedule sprints, the team delivers a service, product, or new features at a higher frequency with a strong level of predictability.

 

It allows beta testing of the software earlier than it was scheduled if there is sufficient business value.

 

10. Better project control

 

In Agile, the team works along with you to find out what goes into each iteration. So, everyone in the team knows the requirements that should be delivered. Also, there is less chance of surprises or unplanned features included in the Sprint.

 

The daily standup meetings conducted by the team make everyone aware of the project status. So, the team can quickly address the issues that arise in each iteration.

 

Planning meetings enable the team to prepare for the next Sprint. Retrospectives help the team learn from the previous Sprint and apply new methods to improve future sprints.

 

So, in Agile development, the quality is ensured throughout the project's implementation phase due to better control.

 

Conclusion

 

The positive aspects of Agile are not Hidden; they are very much evident in areas like reduced time to market, lower costs, improved communications, etc. Many businesses have had success with the advantages of Agile.

 

With Agile, teams can quickly adapt to requirement changes without affecting your  project development , which can also be a negative impact on your project release dates.

 

So, if you think Agile is the right fit for your next project, keep in mind that  NeoITO  has adopted Agile methodology in software development. It helps us create lean, timely, and effective solutions that help achieve our client's goals.

 

tiistai, 28. joulukuu 2021

Startup Guide: Things To Consider When Bringing On Early Team Members

The path to building a startup is never a straight line. Building a successful company from the ground up is something that takes an innate drive and motivation to build teams, identify and solve issues, and ultimately, create positive Transformation.

 

You may have an excellent product idea in your hands, but more often than not, you won't be able to do everything by yourself. You need a diversely skilled team to make it successful. So hiring the right team members for your startup is crucial for your product's success.

 

As NeoITO focuses on working with startups, we are aware of many issues that startup founders face. And funnily enough, a lot of them face the same issues. We're on a mission to make sure it's easier for Founders to bring these issues out, so we can solve them together.

 

hat's the reason we host  “TECH FOUNDERS CIRCLE,”  a recurring virtual event for tech founders everywhere. In the last event, one of the most asked questions was about hiring early team members for their startup. If you are interested, just comment your LinkedIn profile below, and our Chief Community Officer will send an invite for the next event.

So, in this article, we will discuss the factors you should consider when hiring.

 

Table of Contents

  • Important Things To Consider When Hiring Early Tech Team Members
    • Hire Deliberately
    • Seek out Complementary Personality Traits
    • Know Who You Are Looking For
    • Assess Talent Carefully
    • Reference the References
  • What to Look for in Prospective Hires?
  • Some Ways to Find Members for Your Tech Startup Roles
  • Conclusion

 

Important Things To Consider When Hiring Early Tech Team Members  

 

The startup is exactly its team in the beginning. These are the people who will signal your aspiration and set your limits. So, before hiring for startup positions, there is a lot to consider!

 

Hire the Right Person

 

Hire Deliberately

 

You are building a company, so don't hire to fill a job. Make your first hires deliberately with the future in mind. You don't have to hire people just because they are good in general and available. Since you are a startup, these kinds of opportunistic or bad hires can sink you.

 

Let us have a look at why bad hiring decisions happen and avoid them:

According to a post from  Paycor.com, bad hiring decisions happen because,

  • 43% needed to fill the job quickly
  • 22% insufficient Talent Intelligence
  • 13% sourcing techniques need to be adjusted per open position
  • 10% fewer Recruiters due to the recession have made it difficult to go through applications
  • 9% didn't check References
  • 8% lack of strong employment brand

 

Do bear these factors in mind and avoid them for successful growth.

 

Seek out Complementary Personality Traits

 

Other than skill sets, you also have to look for partners with complementary personality traits. First, assess your own strengths and weaknesses when looking for a good partner. For instance, if you are good at building relationships and business but don't have the technical knowledge, hire someone who is an expert in that, which means you need to find someone who complements your skills, not contrasts with them.

 

When forming a team, you have to balance the skills of one team member with the complementary skills of others. In that way, each team member plays to his Distinctive strengths like strategy, leadership or operations, while rallying around the team's shared purpose.

So, choosing team members with different skillsets can add something new to your business. It helps you achieve much more success than you could have achieved alone.

 

Know Who You Are Looking For

 

Before you start advertising for a position, write a job description for the person you are looking for. But, before writing one, you must realize what exactly you need from your team member. You may sometimes download the requirements of the particular position from the internet and publish it.

 

But, copy-pasting it completely is not something I would support. Your requirements might be completely different from that of your competitors. Of course, you can take References, but make sure it satisfies your needs. If not, include the additional skills you are expecting from your new team member. Now importantly, you should know your expectations well to hire the right people.

 

So, before advertising:

  • Make your job titles specific
  • Think well
  • Understand the qualities and requirements you are looking for in your team members
  • Be specific about the responsibilities and duties he/she should perform

 

Your job description needs to engage and excite potential candidates. It is an opportunity to solidify your mission, vision, and values ​​in a concise way that is compelling to co-founders or team members who are thinking about joining your team.

 

Also check out our blog on How to Find the Best Web Developers: What to Look For and Where to Find Them.

 

Assess Talent Carefully

After you have reviewed your applied resume, skills, and character, and Interviewed him/her personally. You can ask your co-founder (if you have one) or the tech guy in your team to interview the candidate for a second opinion.

 

If you don't have a tech guy in your team, you can meet a lot of tech people from the events like TECH FOUNDERS CIRCLE and hire your first tech guy.

 

To assess his / her Talent, you can follow some Talent assessment methods and determine they fulfil your requirements.

 

  • Personality tests: Working out the behavioural traits and thought process of the candidates is useful for many positions. You can identify valuable attributes like attendance, leadership, and creativity and assess them easily alongside the characteristics of other candidates. However, Personality tests can be used as a secondary activity as they are not effective as a standalone means of determining a candidate's suitability for a role.
  • Cognitive ability testing: It can also be called “Intelligence tests” or “General Aptitude Tests.” It usually includes numerical and verbal Reasoning and even Logic exercises, but they can also branch out to memory, problem-solving, attention to detail, and more. This method helps you assess the candidate's general Intelligence and ability to follow several concepts and solve fundamental problems.
  • Exercises and games: Usually, exercises are done in group interviews. Here you can ask the candidates to work together to resolve an issue or debate a specific problem. By observing them, you can draw conclusions about each candidate's abilities and attitude.

 

Depending on the form of these assessments, their effectiveness might vary.

 

Suggested read:  How To Find A Technical Co-founder Or Technology Partner For Your Startup?

 

Reference the References

 

Instincts are powerful, but they cannot tell you your employee's past. You have to make use of every opportunity to check your candidate's References. For that, you can talk to the people he/she has worked with in the past to get new insights and clarify existing ones. These References are invaluable and help you avoid costly mistakes.

 

Should You Hire A Full-Stack Developer Or A Team Of Specialists For Your Business?

 

What to Look for in Prospective Hires?

 

Traits to Look for in Hiring Employees

 

Honestly speaking, startups are not for everyone; working at a startup is very demanding. Working with minimum supervision, quickly adapting to changing conditions, continuous multitasking, etc., now people don't have what it actually takes to face these challenges and succeed.

Due to this reason, it is extremely important to choose the right people who can keep up with your fast-growing business and further advance it.

 

In my opinion, choosing the person with the right values ​​is equally important as the person who has the right skills. Having a good personality can have a lot of positive effects on your life and career and help you achieve your goals.

 

If you want to find people who can thrive in dynamic startup culture,

you need to look beyond skills. You should carefully assess your candidates' motivations, look for cultural fit, and hire for potential.

 

That said, I am going to list out specific characteristics that you should look for when looking for tech startup roles:

 

Attitude / Skills

It is easy to fall under the trap of thinking that the now qualified candidate is your best option. However, attitude is the Best Predictor of new hire success. It is something that you will not be able to directly identify from a resume alone, but it is crucial to keep in mind when you interview your candidates.

When interviewing, asking questions like:

  • Describe the past situation at work that led them to grow as a person, or
  • Describe the perfect work environment for them, etc.,

 

will let you know the type of person they are, what motivates them, and the character traits that make them unique.

 

Attitudes that you should look for:

  1. Honesty
  2. Humility
  3. Perseverance
  4. Initiative
  5. Determination

 

Ability to Multitask

 

To function effectively, a small company with a few employees will mainly consist of people who can multitask. You have to look for people who are ready to take on new duties and responsibilities. They should be the ones who can wear many hats. You will need them.

 

Eager to Learn

 

Your startup will experience exponential growth if everything goes according to your business plan. So, you need to bring people who are eager to learn and grow with your company by taking on new responsibilities and tasks.

 

Flexibility

 

With all startups, there will be constant changes. As you are starting and figuring things out, methods of conducting business will probably change many times before you find reliable methods that work well each time. So, the people you hire should be flexible enough to adjust to these changes.

 

Entrepreneurial

 

When building a core team for a startup, the candidates you are looking for should have an entrepreneurial mindset. You always want to stand out from your competitors, so it's better to choose people who can think outside the box and are ready to take risks. Look for doers, people with a hands-on mentality.

 

Culture Fit

 

Culture fit is as important as finding someone with the right skills, especially for your earliest employees. It is because your earliest employees are integral to building your company culture. When I say hire people for a fit, it doesn't mean hiring someone like you. Doing this will lead to a lack of diversity within your startup team, and you will miss out on the creativity, experience, and knowledge of more diverse applicants.

 

The type of person you hire now based on their attitude and values ​​will significantly impact the kind of people you hire in years to come.

 

Soft Skills

 

When listing out the hard skills your employee needs on the job description, you have to look for these soft skills as well. Although these skills are also crucial for your business. They are communication skills, interpersonal skills, adaptability, creativity, empathy, etc.

 

When hiring startup positions, consider individuals who will strengthen your leadership and accurately represent your brand.

 

Learn How To Optimize Your Team For Business Growth.

 

Some Ways to Find Members for Your Tech Startup Roles

 

  • Make use of every conversation: You will never know who can help you to connect with a co-founder or an early team member through their network. Practice your “elevator pitch.”
  • Work your network: Collaborate with friends, Universities, former colleagues, etc., to spread the word about who you are looking for.
  • Reach out to people you know who have the skills you want: If you know someone who fits the job description you seek, who is not on the move. Connect with them and let them know the type of person you are interested in for your startup position. They are likely to have other people in their networks with similar interests or backgrounds.
  • Virtual Network: To meet people outside of your Circle, you can attend Networking events (in person or virtually), LinkedIn, etc. But don't expect you will meet the person you are seeking magically. You have to be patient.

 

Conclusion

 

As a startup, you may struggle to bring on the best early team members for the successful development of your product. Hiring a seasoned offshore product development team can get you there as well. It is cost-effective, allowing you to reduce your stress behind hiring and firing, and you will already get access to a larger talent pool, and you can focus on tasks like sales, marketing, etc.

 

I have seen many startup founders sharing their ideas and seeking our assistance to bring them to life. For them, NeoITO is more than just an outsourcing partner. We can act as your tech partner and also provide you with a tech co-founder if you don't have one. As we also play the role of a tech co-founder, your product's successful development is our priority.

 

Suggested Read: Why Are Technical Co-Founders So Necessary to Startups?

 

As we have worked with many founders directly, we know what it takes to successfully build your ideas. So, if you plan to start your own company, you have to start building relationships with people that embody your company's vision, mission, and culture.

Hiring the right people from the beginning helps you get the right direction and helps you better manage your team.