How to find a business partner for software development?
Introduction
Finding the right business partner for your software development project can be a challenging task. The tech world is brimming with companies offering software development projects. When there are “too many fish in the sea”, it is not easy to choose the right partner that aligns with your needs and evolves with your business requirements. In this article, we will explore some strategies you can employ to come up with the right partner. With a strong partner, you can bring to the table complementary skills and expertise, and leverage their resources to deliver unique applications to your customers. Just as they say the eyes are the windows to the souls, mobile apps are the windows to your business. The best way to promote your products and services is through these windows – the windows of opportunity. No matter what size your business is, having an established software development company is the best thing ever for your business, and they can help you expand your product line. In this blog, we explain some key strategies that will help you find the right partner for your business.
Strategies that will define what you need in your business partner
Identify the perfect business partner with these simple strategies and propel your software project to success:
Start with a journey of self-discovery
The software development partner must complement the skills you have. So before you start your partnership, go through a journey of self-discovery to know what it is that you are lacking. Is it technical expertise? Or a hole in your development team that you need to fill with the best coding experts? When you know where the skill gaps lie, it would be easy to identify a partner who would be able to complement that.
Setting a clear vision for your software project
You might need to hire experts to understand the gap in the market that you are trying to address. They would survey the market, catch the pulse of the target segment, and even check how your competitors are doing. They would study the competitor’s strengths and weaknesses and give suggestions on what you need to do to achieve business success. And what kind of an app you need to build. This would help you set a clear visit for your next software project. And with a bit of luck and effort, you will be able to meet with a business partner who will resonate with your requirements, and help you achieve your vision.
Referrals and networking help a lot
Your industry peers will have already worked with business partners and they might have experiences that they share with you, and those could be positive and negative. Discuss your options with them, and they will be able to give you excellent referrals as well. Networking always helps in finding the right partner for your software projects. If you are ready to outsource, you have widened your horizons.
Amazing outsourcing
Now you can cast a wider net than ever with nearshoring and outsourcing options. Outsourcing is an amazing option with plenty of options and so is nearshoring, but the only difference is that the countries that you might want to do business with are far nearer than the options with outsourcing, and you don’t have to travel halfway across the world to meet and collaborate with them physically. While we are not delivering deep into the pros and cons of nearshoring and outsourcing here, it is obvious both these options give you diverse options. You practically have the whole world to decide whom to do business with, and with virtual collaboration and communication tools, you don’t have to physically meet with them very often.
Researching potential partners
Earlier we said that you need to understand your requirements clearly to do business better. Once you have them clearly defined, and you have a few mediums through which you can get hold of those partners, you can research them to analyse their working style. You can discuss your requirements with them in-depth to know what mode of work they do, and how they can help you achieve your goals. Participating in industry events and conferences would help you connect with software development providers, and would provide a good opportunity to connect with them firsthand.
Assessing compatibility with potential partners
Compatibility with the potential business partner is the crucial thing. Once you have noted down a few potential business partners, you can hold meetings with them to check a few things:
Technical expertise
The partner should have the skills and experience in all the frameworks, platforms, and technologies that you would need for your project. And they should have software developers who are skilled at them. Of course, this factor would depend on the seniority of the developers and how well technically equipped you want them to be.
Project management capabilities
During your discussions with the potential partners, discuss their ability to handle timelines, scope changes, and budgets. Find out how they manage the project management processes, and see if it aligns with yours.
Communication and collaboration
Prompt communication is the key to successful work, especially when the team members are scattered across the world. You don’t have to wait half a day for a response, because it would certainly affect the progress of the work. This means the business partner must be able to collaborate with your team at their timezone.
Industry knowledge
With smart industry knowledge on what kinds of tools, frameworks, and platforms to use, they would be able to guide you better. So it would be wise to partner with companies that already have experience in this field because they will be able to understand and work better since they might already have prior experience.
Cultural fit
Finding a cultural fit is another crucial thing. Being from a different timezone, the culture, values, and even work ethics might be different. Discuss this at length with them if it is the first time you are doing business with a partner from a different timezone.
Data security
This is a paramount concern when you outsource a project. Check the security measures that the software development company follows when they handle your data and your project, and what data handling practices they rely on, including compliance with industry standards, and proactive measures to prevent data breaches.
Protecting the intellectual rights of the project
Have a clear understanding of that, and draw an agreement on who owns the codes and other project-related assets. If there is proprietary technology or unique innovations, make sure that the intellectual property is protected and you draw up contracts specifying that.
Conclusion
After studying your requirements, and following the above pointers, you need to consider the project complexity, and the developer team’s expertise before deciding whom to partner with. Consider your long-term goals and the kind of features and complexities you need for your software applications, including scalability, before making the final choice.
Interesting Links:
A Step-by-Step Guide to a Find Software Development Partner
Check out some of the tips to look for Partners in Software Development
Pictures: Canva
The author: Sascha Thattil works at Software-Developer-India.com which is a part of the YUHIRO Group. YUHIRO is a German-Indian enterprise which provides programmers to IT companies, agencies and IT departments.
