The Reality of Startups
Going on your own to start a new venture can be pretty exciting and scary at the same time. Most people who wanted their own business are the ‘dreamers’ and this can’t be denied as, one time or another, we’ve all been there; dreaming. This is why startups are often defined as ‘risky’ especially when you belong in the crowd of people who suddenly quit their job; doesn’t have enough money or have just the right amount; or just jumped into building their own path.
Yes, there are successful startups! While there are a number of successful startup ideas to date, according to Failory’s infographic, data shows that about 90% of the new startups still fail. With this truth, is where we should start checking reality. Starting a business, as well as sustaining it, is a battlefield of a process, where there are no free move nor free weapons. There could be many possible bases for this harsh data regarding startups, but most of the reasons why it is doomed for failure is when there’s a lack of expertise, even just for a single area, in running a business.
These cons may be frightening, but don’t hinder entrepreneurs with their “why not” ideas to save them from joining the larger percentage, take a more positive help and hope by investing in business outsourcing to decrease this statistic. According to Marketing & Growth Hacking, known companies Alibaba, Basecamp, GitHub, Slack, and Skype are few businesses who can credit outsourcing as a huge aid in their development back then.
What is Outsourcing?
Outsourcing is simply defined as a business practice in which a company hires another company, instead of using their own employees or resources, to handle certain task/s for them.
Before, outsourcing was seen mostly just for the successful companies, but the growth in technology made it more and more accessible for all business scale, from startups to big corporations.
For Startups: How important are customers?
Startup companies can’t afford to lose or have a loss of control in any aspects inside a business especially when jeopardizing their customers. There can be many business tasks to be handed over, but one commonly outsourced, which would also make sense for startups to, is customer support. In general, startups are expected to be closer to their consumers than most large businesses. Outsourcing support may first seem to be handing these users away irresponsibly and not meeting such expectations, but actually may be quite the opposite if you hand them to the professionals. For every business out there, customers are seen as a ticket to success, but what more for the businesses that are just starting out? It’s their golden ticket. Being a new store in town, I don’t think you would want to lose any of your customers.
What are the Benefits of Startups Outsourcing Support? What are being saved?
Save funds for a more important business movement as startups are usually hungry for different investments as they are only starting. A study analyzed by Quartz tells that the second most factor cited by founders as to why their startups failed is running out of money with 46%. This data shows almost half of the startups are facing running-out-of-cash as their main problem.
Startups are usually composed and functioned by only a few people with no dedicated support team. Outsourcing support will keep these key employees focusing on their main roles as it’s a common knowledge that another usual pitfall why startups end up failing is the lack of focus.
A time and chance to fully focus on growing or expanding a business as startups are known for work, grind and sleepless nights. Startups can focus on developing their products or services, to avoid failure as according to Quartz, 51% (as the highest) of startups fail because their business model is not viable.
Actually knowing your customers better with the help of the right tools and skills in turning data into valuable customer insights, which will be a great benefit for startups. A 24/7 multilingual support also helps in delivering an excellent customer experience as this provides both flexibility and availability in language and in time zone difference.
Access to top global talents and a team of industry experts are guaranteed. Customer support may seem simple but to actually provide the best customer experience is difficult as it is time-consuming and there is a need for a good experience and know-how to create a well operating, motivated team. For instance, an outsourced team that has been trained can write up an email in 5 minutes or so, whereas without the experience it may be much more time-consuming. In addition, outsourcing companies have their own hiring process, trainings, and tools dedicated to the needs of their offered services all for their clients. They also have their own processes, procedures, methods, and standards, which will save you from wasting time experimenting or testing.
Lead your Startup to Success (and not Failure)
Success is not defined by how long a company has been existing. In fact, there are a lot of successful startups in different industries, however, it’s really a long and great shot to be successful in the early stages of your business and keep it that way. Startups are mostly coined as scary and risky especially with this nine out of ten startup failure rate backing it up, but it shouldn’t be. This should be seen more as a challenge to be overcome by entrepreneurs these days.
Customer support is highly important, although startups, just like any business scales, must make sure to know what exact area they would be needing a help as different companies have different situations in hand and no matter what level a business is currently on, from small to big ones, outsourcing business needs will never be a bad idea.
Moreover, outsourcing now is not, and should not be, only seen as an option to startups but also a means of survival and a growth investment in the business industry. If you’re lucky enough to be part of the remaining 10%, good for you, but if not, it wouldn’t hurt to ask for help. Instead of wasting time and resources trying to build a team, why not get the experts to help you as soon as possible to build a partnership.