Thousands of people start new businesses every single year. And some of them end up being hugely successful. When it comes to successful startups, what separates the wheat from the chaff? This is a question many books and articles have attempted to answer with varying degrees of success. Yet when it comes right down to it, successful businesses do in fact tend to share some commonalities. Certain traits are necessary for a business to be successful and these include the following:
The ability to create a product or offer a service that people actually want. According to a Fortune survey reported by Neil Patel, one of the major reasons start ups don't make it is that they make products or offer services that people simply do not want.
The ability to maintain cash flow. Many start ups don't make it for a very basic reason - they run out of money. If you are starting a business, the more financial security you have the better. When you can't pay your staff or your bills trouble quickly follows. In fact according to an article in Fast Company 13% of startup founders identify cash problems as a major reason for business failure.
The ability to handle rapid growth. Hand in hand with the point above, in order to generate cash flow, you need to be able to grow your business. Handling growth successfully is essential to any business. Many businesses lose customers and eventually face failure when they simply can't deliver on their promises.
The ability to stay focused on what's most important.According to author David K. Williams, the majority of start ups don't make it because they don't stay focused on what's most important - making something important and selling it. Instead start ups become consumed with internal business issues or with secondary tasks they'd be better off outsourcing like accounting , qa testing or software development.
The ability to bounce back and handle rejection, hardship, disappointments and frustrations. Sooner or later any business has to face some struggles. Often the difference between a successful company and a failure is how they handle difficulties. Cultivating a resilient team that is able to stay calm and focused while facing challenges is a key part of cultivating a successful start up.
The ability to put customers first. At the end of the day, any successful business understands the value of customers. Truly putting customers first is an important part of any startup that wants to stand the test of time. Though it may sound easy to do, putting customers first can often prove to be a considerable challenge. Especially when paired with the challenges of rapid growth.
As a provider of custom software development, we have the opportunity to interface with many different companies. Some are smaller startups while others are more established corporations. Though are certainly many different ways to be successful in today's business world, we have found that the most successful organizations do tend to share the traits described above. Fortunately we benefit from this because many companies recognize the benefits of outsourcing software development, QA testing, and project management. Interested in more info? Contact us today for a free consult.
Whether you are new to offshore software development, or have years of experience, you may wonder what countries offer the best services. We’ve been in the software development business since the 1990s and the offshore software development business for about 7 years.
Before we decided to offer offshore software development services, we did a lot of research. We wanted to choose the right location for our business based on a number of factors. We knew we wanted a convenient offshore location that would be easy to access from the U.S. We also wanted a country that had high literacy rates, with a significant percentage of bilingual professionals who speak English and Spanish. We focused on countries that offered high quality training in information technology, and also places that had a sound infrastructure and ready-access to the internet.
Costa Rica was everything we were looking for, and has turned out to exceed our expectations in many different ways. Here are three new reasons why we are glad we chose Costa Rica for our offshore software development business.
Costa Rica is Spending Millions in Air Traffic Control Upgrades - Getting to Costa Rica from the USA is easy, and it is about to get even easier, with an estimated $12 million investment the country is making in air traffic control upgrades. The upgrades will impact the international airports of Juan Santamaría, the Daniel Oduber Quirós, in Liberia, Costa Rica, and the Tobías Bolaños Palma, which also serves San Jose. For a complete overview of the updates planned, see this press release.
Doing Business in Costa Rica is Only Getting Easier - While many U.S.-based companies have enjoyed the benefits of doing business in Costa Rica for a long time, the country is continuing to cultivate a more favorable business climate. In fact, a study by the World Bank titled "Doing Business 2016: Measuring Regulatory Quality and Efficiency" recently ranked Costa Rica at the top of the list of countries (along with Jamaica, Kenya, Uganda, and Kazakhstan) where doing business has improved the most during the past year. Costa Rica jumped up 21 spots to #58 out of a total of 189 countries surveyed.
Costa Rica is Ranked the Healthiest Country in Latin America - In a World Bank study that looks at 145 countries, Costa Rica Ranks #24 (just behind Canada) and ahead of the United States which ranks #33. The country's health care system is one of the major reasons it's ranking is so high. Analysts also note that Costa Rica is considered one of the happiest countries in the world. And the link between happiness and health is likely to also have a powerful impact.
If you are considering offshore software development services, we hope you put Costa Rica high on your list. If you'd like more information from a company that has 7 successful years offering offshore software development with developers in Costa Rica, give us a call. We’d love to learn more about your business, and to talk with you about the offshore software development services that we offer.
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number8’s onshore office is located in Louisville, Kentucky where our Account and Relationship Managers work hard to provide all of our clients with exceptional customer service. We also have consultant offices located in Escazú, Costa Rica and San Pedro Sula, Honduras that give us a strong local presence allowing for top-level recruitment, technical training and low employee turnover.