Imagine that you have exactly three months to present your product in front of venture investors. You have been working hard on the project and have done all the necessary research. You have 100% confidence in your product. Now all you need to do is build an MVP in less than three months, which should be small in scale, fast, and cheap in order to be successful.
There’s just one issue though. You face challenges that almost every IT startup face. You lack the technical expertise required to build your MVP. Or maybe, you lack the budget or time. It can truly be anything. You don’t want to waste hundreds and thousands of hours and dollars to make a fully functioning product for which the market might not even be ready yet. You might be ahead of the market for a few years or maybe your product isn’t enough for the consumer—You need to have an MVP to test that.
So, the first question arises – How do you build an MVP?
At this point, startups have two options-
- Start recruitment processes for a project that would only last for three months.
- Outsource development teams for the short term to get the project started as quickly as possible.
The first option for most startups generally seems like a huge task that requires a lot more effort on the business side of the project than on actually working on the project itself.
- Lengthy hiring processes that cost time and money; something that startups are always running out of. There’s always a great risk of hiring amateurs and losing the trust of one’s partners and users. This problem doesn’t arise while hiring offshore teams. One has the freedom to hire any offshore team from the global talent pool within any budget.
- Lack of budget is a very significant reason why startups prefer to outsource MVP development rather than building it in house. Development costs, marketing costs, sales expenditure, extra overheads, and many whatnots need allotment of a fixed amount of money and one can absolutely not go over it.
- Managing a team requires effort and time. Where the leader is mostly busy doing many different things throughout the day, sometimes it gets difficult to be in sync with the team. In offshore teams, however, a client is provided with many significant team roles such as proxy product owner, program manager, etc., to make sure that there is a synchronisation between the two companies.
The second option, on other hand, has been on the rise in the industry. Outsourcing offshore teams to build MVP is being regarded as a smart choice for startups. Many companies today are outsourcing their work and adopting an agile methodology to work with their offshore teams. This means combining the advantages of outsourcing with the flexibility of the agile methodology.
If you think hiring an offshore team might be a good idea for your startup as well, we’ve compiled a list of few pointers which should be kept in mind while hiring any offshore team.