Money is one of the main driving forces of any brand-new solution. This is especially true for teams, which must present something cutting-edge and, at the same time, have a constant influx of investment that will allow them to do their plans. However, the motivation of investors may turn out to be fleeting, especially if, at some point, they begin to understand that they will have to spend a lot of money, but the success of the created solution is quite illusory. However, a compromise can be found even in such a difficult situation – we will discuss it below.
How to Enlist the Support of Investors for a Long Time
In fact, the idea is simple: you need to present the results of your startup software development to your target audience to get objective confirmation that the money was not wasted and that it makes sense to continue investing in your project. In practice, this is achievable through the introduction of another stage preceding the custom software development for startups, namely, the development of an MVP – a basic solution with a minimum set of features that embody your idea. This way, you will be able to receive feedback from audience representatives as quickly as possible and will have at your fingertips accurate insights about what your process of software development for startups will be like in the near future.
Depending on the complexity of the project’s business logic and the difficulties associated with the introduction of individual technologies, the implementation of MVP within software development services for startups can take from one to four months (please note that it is possible only when you clearly understand what the final product should be, and all research on the audience, competitors, and market trends has already been carried out). For investors, these terms will most likely be acceptable in order not to abandon your project and monitor its evolution with interest.
At the same time, it is important to understand that not all projects can start with an MVP, and sometimes, the development of such a solution is no different from a full-fledged custom software development for startups. This happens when all the features in your solution are important, and your idea is still raw enough to be “overgrown” with secondary functionality. In general, in such a situation, it is better to delegate the complete process of working on the project to outsourcing software development companies for startups that will take on most of the tasks associated with its planning, implementation, and presentation. Despite the way you adhere, choosing a reliable software development company for startups becomes the key to the success of both the MVP and the full-fledged solution as well.
Final Thoughts
To summarize the above, we emphasize that if you are planning to cooperate with a startup software development company, you need to discuss the possibility of developing an MVP, and only after receiving positive feedback from the target audience, begin the full implementation of all planned features. This way, your software development for startup will most likely pay off, and investors will not have any unnecessary doubts about the feasibility of further financing your project. If you are looking for a reliable contractor to whom you can entrust the entire software development process for startups, feel free to contact us, and we will definitely come to your aid.
