Wed, 2 November 2022
Outsourcing Product Development
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Many startups outsource their product development.
Here are some key points to consider before outsourcing:
Outsourcing gives you access to additional skills and resources you may not be able to hire yourself.
It can also lower your costs as you pay for the work to be done through contracts rather than salaries.
The key is to have someone on your team manage the outsourced product development.
Their job is to specify the work to be done including designing architectures, coding to standards, and documenting the code.
The team building the product needs to have a project manager that can set priorities, drive to meet deadlines, and communicate with the startup hiring them.
Startups must have a very well-defined specification that includes wireframes, screenshots, and clear descriptions of each function.
There must be daily email communications for posing and answering questions as well as weekly status updates on what is accomplished.
Collaboration tools for tracking the project status and communications between the developers and the team are a must.
The startup must be able to test the software on a regular basis and provide feedback.
You must install solid specifications, project management, and communication processes to gain the benefits of outsourcing product development.
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