These days, it seems like every youngster is coming up with a start-up. Where does your’s rank?
Ideas Alone No Longer Make the Cut
A start-up is a “young company founded by one or more entrepreneurs to develop a unique product or service and bring it to market”¹. Start-ups are born with a passionate notion of being wildly successful and recognised worldwide, for introducing a solution that everyone needs. Many more people today — have resources to chase after setting up new businesses. In fact, there are roughly 1800 new start-ups being founded daily. Yet, this bloom of possibility brings an abundance of choices for consumers, and most no longer pay for just ideas. Instead, they look for excellence in its execution and accompanying service, especially for digital solutions.
So, to get on the fast track to growth, business entrepreneurs, who want to bring their online ideas to fruition, should seek a technology partner with a wealth of knowledge and experience like — RPI eSolutions.
Startups Numbers Are On the Rise, Yet Few Survive
With today’s advanced networking and digital connectivity, more and more people can set up a business because the opportunity to address or fill a gap in the communities’ needs has become accessible to those with an initial capital deficiency too. In UK alone, 581,173 start-ups were founded in 2014² with a huge 672,890 being founded in 2019— that’s a whopping 1,844 new startups daily on average. However, only 50.8% of 2014’s start-ups survived till 2019.
The Importance of Good Service
For digital start-ups, one of the main reasons causing failure, as mentioned in Forbes, is that often speedily built with what is known as ‘tunnel vision’, the digital service ignores the customer’s needs. A well-designed service, according to the Nielsen Norman Group, is “designing, aligning, and optimizing an organisation’s operations to support customer journeys ³ ”. A good service structure is especially important for a start-up embedded in digital solutions, where the human touch becomes intangible.
Think about how Google has almost entirely swallowed Yahoo.com as a search engine. Most users avoid Yahoo.com because of the utterly cluttered and full-of-ads page, which leaves them feeling agitated and confused ⁴. Google, in contrast, wholeheartedly considers the customer’s experience, making it simple and easy.
In reality, while many founders have a solid understanding of the practical requirements and specifications of their solution, they lack the required technical domain knowledge for going online in the best way. While their ideas are ready-for-market, their service is not. And customers begin to look for the same thing elsewhere. Hence, the service provided by digital solutions is arguably its backbone because the ease of use and functionality grows a pleasant customer base.
Modern Startups Require a Reliable Tech Partner
This is where a start-up can collaborate with an experienced, innovative technology partner. To evaluate how users would respond to the service, it may be a good idea to roll out an MVP to get user feedback. Rather than having an in-house team, which has limited capital, it would be more judicious to outsource to a technology partner that has experience in these areas. If the roll-out of the idea becomes successful and the start-up has established a long-term plan with VC then, it is highly likely that the start-up is on an upward trajectory.
“We go above and beyond to provide end-to-end integration of software and business.”— Ashok Agrawal, Founder of RPI
RPI eSolutions is one such company and in fact, goes miles beyond to provide end-to-end integration of software with business. RPI not only builds enduring web and mobile platforms for digital start-ups and businesses that want to move online, the company also guides its clients towards maintaining online business viability in the long-run.
Today, along with a useful idea, a digital solution provider must also ensure seamlessness, attractiveness and functionality. While this may be formidable for a start-up alone to ensure, engaging with an experienced technology company can be the fuel that drives it upward. Start-ups are ventures that require courage, resilience and foresight. RPI eSolutions thrives on these qualities and empowers its clients to do the same. In the sea of start-ups, RPI puts a shining beacon on its client.