According to studies, 70% of all startups worldwide failed to succeed! The same thing can happen for many reasons.
- Heavy completion,
- Insufficient financial support
- There is less demand for the product/services on the market
- The Wrong Team and a Lack of Knowledge or Expertise
One of the main reasons for team failure is a lack of or insufficient management. Startups need Team Extension service.
Experts recommend that newbies create the MVP (Minimum Viable Products). A team of talented, well-qualified, experienced members can make a business more viable. It is crucial to find the right people and build the right team for a product’s success.
Startups have the option to use a team extension or dedicated team to hire an outsourcing staff. This model can help businesses get long-term returns. It is important to build a team of qualified applicants that will be the backbone of a startup.
What is the Team Extension Model?
It is also known as the Staff Augmentation Model. This is used to identify the best candidates for an in-house team. You can outsource top software development companies to hire managers and engineers. This is a way to expand the operational staff, either in-house or outsourced.
This model is designed to help companies make their hiring process more efficient.
You can save money by hiring experts of the highest quality as you need them.
- Project management is made easier by the use of the underlying resources.
- Reduce the Skill Gap within the Current Team.
- There is no time wasted in the recruitment process.
- Empower internal team members.
- Swifter time-to-market.
- Take advantage of the most in-demand technologies, such as the most recent frameworks and tools.
- Organize teams to achieve both short-term and long-term goals.
- Flexibility to expand the workforce and increase production capabilities.
- Provides strategy to concentrate on a specific skill to create a startup product.
Startups can strengthen their IT areas by using a popular team extension model. You can achieve this by using tangible, visible and valuable outcomes. With security, agility, flexibility, and ease, one can meet business challenges quickly and efficiently.
How can Startups create an extended team?
You can manage product development projects more effectively if you quickly set up an extended team.
Stage 1: Determine the requirements
It is important to clearly define the goals and expectations of the project. Software development companies can help identify the skills gaps within a team by referring to other software developers. Once you have analyzed all the needs, it’s easy to determine which skills are required to outsource.
Stage 2: Selecting an Outsourcing Company
Next, you need to locate a trusted partner among the team extension service providers. You can filter your search results by technical expertise, knowledge, and talent pool. You will also need to share your project-related knowledge with the right service provider.
Stage 3: Hiring the Candidates
The extended team provider will conduct the necessary research to select the project developers. The provider will then share the profiles with its partner company. The Startup company will then analyze and contact the candidates to hire them.
Stage 4: Onboarding of the Team
The new team member must be familiar with the roles and responsibilities of the firm’s in-house team. It should be easy for new team members to get onboarded. To ensure that extended team members are familiar with the work practices and methodologies of the in-house departments.
Stage 5: Scaling according to the Demand
A team extension model is available to help the Startup expand or disband the team, depending on the needs. The dedicated team can execute the tasks or solve new problems faster after outsourcing. If a startup wishes to terminate a particular talent, the contract can be ended while the team continues with its other members.
What are the most important factors to keep in mind?
These are just a few of the many factors that make it possible to choose the best outsourcing partner for your company.
- A team must be able to handle pressure and have an emergency plan in case of unplanned work situations.
- The vendor has sufficient experience and skilled personnel to handle the project.
- Candidates are able to work in hostile environments.
- Have a solution or a complete answer to any problem that may arise during product development.
- The contract must protect intellectual property and concepts of the Startup.
- Analyze the communication and quality of work as well as punctuality in completing work on schedule.
- The project’s timeframe must not be ambiguous.
- Outsourcing vendors should provide transparent pricing that is competitive.
You can run a Startup with high transparency throughout the entire lifecycle of the product’s development. This is possible through partnering with other IT companies to outsource.
This team extension model allows for the creation of a product to be made easier by bringing in the right tech talent. This will allow one to be ahead of the competition in the market. This hiring model works the same way as an in-house team.
One interesting thing about the team extension model is this: It is easy to adopt the team extension model because of the new norms in work after COVID-19. We now have the option to chat online, make video calls and collaborate online in many other ways. Remote teams can now collaborate in real-time, regardless of their physical location.
The budget or financial plan should be minimal for the next year. This will help you to stay safe when you contact a technology partner for team expansion or building an on-demand group.
A startup can have a team of developers with high-level skills who are able to use the same tools for project management to reach similar goals. It is important to keep up with the changing market needs. Unexpected and out of reach for the in-house team?