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What the Fastest Growing Companies Have in Common

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Starting or running a business is a complicated process. It requires commitment, dedication, planning, and a bit of luck. Many businesses fail within the first one or two years, which can cause severe financial loss along with emotional distress. All entrepreneurs dream of having a thriving company, and many reach this goal. Here’s a look at six common characteristics that all fast-growing companies share for some inspiration:

  1. Product/Market Fit

Entrepreneurs are always hardworking and driven, but they need a strong product to succeed. Thriving start-ups always have a revolutionary product that fills a vacuum, providing exactly what customers need. They provide must-have products or experience to clients. Sometimes the niche already exists, while at others, a product can create a need. For example, social media giants like Facebook and Twitter existed, but LinkedIn created a niche by being a network for professionals.

  1. Focusing on the Niche

Start-ups must be laser-focused on a niche for success and growth. They don’t have the manpower or resources to tackle a large market. Focusing on a niche allows companies to specialize in a specific category and fine-tune their products or services. For example, a web development company for small businesses can use a highly customized approach after comprehensive research. This might keep their customer pool small, but it helps companies develop a distinctive identity.

Specializing in a niche has long-term benefits as you generate enough funds for expansion later. The cosmetics company Huda Beauty is a good example of this. It started out selling high-quality fake lashes and established such a strong niche presence that their products set a standard for everyone else. Today, this company has expanded, including other cosmetic items like eye shadows, foundations, lipsticks, etc.

  1. Don’t Disregard Processes that Aren’t Scalable

Modern entrepreneurs can get advice from multiple sources. One of the most common bits of advice is, “keep things scalable.” While this is sound advice, you still need to focus on specific processes that may not be scalable as companies sometimes need to invest in these too. It helps establish a strong presence while having a lasting impression on a customer’s mind.

For example, some start-ups will coddle customers at first with a lot of personal attention. They will offer one-on-one consultations, discounts, accelerated project timelines, etc. None of this is scalable, but it can help companies develop a reputation for excellent customer care. You can roll back these processes slowly while maintaining sound basic customer care systems for long-term benefits.

  1. Constant Focus on Growth – Timely Growth

It isn’t surprising that fast-growing companies are focused on growth, but not all of it can cause large-scale disruption. Most successful start-ups have a meticulous process in place for expansion. These companies plan a slow, relentless march towards growth until it becomes almost inevitable.

For example, Uber has a precise expansion plan for opening up in new cities. They send feelers out, get to know the new market, connect with drivers as well as customers, before developing a unique plan for new markets. They make sure it is primed for Uber’s network before launching operations. This constant, unrelenting march drives long-term success.

  1. Do Things Differently

Sometimes fast-growing companies succeed by shunning traditional practices. They don’t do this arbitrarily but put some thought and research behind it. They look at established practices carefully, identifying their weaknesses before finding more efficient alternatives.

For example, Yelp is such a success because it stayed away from paid reviews or expert testimonies. It relied on 100% community feedback, which worked spectacularly. Yelp became more trustworthy than any other review platform just a few years after its launch.

Establishing a fast-growing company isn’t easy, but it can be done. Just maintain focus and ensure you have the right product.

  1. Don’t Be Afraid to Outsource

Fast growing companies tend to have a clear sense of their core competencies. Knowing their strengths and weaknesses gives them an edge to take advantage of outsourcing options while they grow.

There are many business functions that may be better handled by a third party, especially during the early phase of a company’s growth. For example, accounting, billing, software development and IT support are all common functions that fast growing company’s may choose to outsource to free up time and resources so they can best focus on the priorities at hand.

As an information technology company with many years of experience, we’ve helped hundreds of clients leverage technology to become more efficient and increase profits. Interested in learning more? Let’s connect. Send us an email or give us a call and we can get the conversation started.

 

5 Stakeholder Questions To Ask Before Starting the Software Development Process

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Software development is an intricate process that requires skill, planning and team effort. There are several stakeholders involved in the project, from company executives to various departments within the company.

It isn’t possible to satisfy all of them completely, but you can take their concerns into account before working on the project by asking the right questions. Doing so can help you understand their priorities and plan the development process accordingly. Here’s a list of 5 questions to ask before starting a software development process:

  1. What is the Product?

Projects tend to get out of hand if you don’t have a clear vision in mind. Software developers need to understand what the end product should look like before they even start planning for it. For example, does the company want an app that will help users find the best online deals? Does it want a software program for its HR department?

Stakeholders can provide a list of features or ideas for the end product to make things easier for a development team. If there’s any dispute about the final product, this will be the best time to resolve it. Make sure everyone is on the same page before proceeding.

  1. What is Not a Part of the Product?

Developers can sometimes go overboard and add features or elements that aren’t necessary. That happens if they don’t know what should be excluded from the final product. For example, if a website is only delivering to the US, there’s no need to include a feature to convert prices to other currencies. In many cases, stakeholders assume their development team is going to deliver something, but the latter is unaware of it. It is essential to establish what you will and won’t deliver.

  1. What is a Successful Product?

Software programs are tools designed to achieve a specific goal or purpose. A company creates a website if they want to establish a presence online. They design an app if they want to build a robust and long-term customer base. They develop a software application to make daily processes easier. If the product fulfills these goals, it is considered successful.

The end goal isn’t to deliver a good product; it is to provide a product that succeeds in the market. There’s a clear difference between these two goals. For example, a website can be beautiful and functional but still not provide all the services the target audience needs. Stakeholders should define what a successful product means to them at the start of the project.

  1. Do We Have a Single Point of Communication?

This is one of the most challenging aspects of project management. The project starts with one team and one client, but eventually, a large number of people start becoming part of the process. The IT guy must approve one aspect of the design, the other should please the marketing expert, and so on.

If these people start offering suggestions or requesting changes, the project can quickly get out of control. It is crucial to establish a single point of communication between stakeholders, clients, and development teams. You can maintain a smooth flow of information while keeping track of numerous requests.

  1. What are the Potential Roadblocks or Problems?

No one likes to discuss problems before they work on a project, but you need to address it. Gather all stakeholders together and ask them about possible hurdles. Can the project run out of money? What happens if some temporary contractors don’t live up to expectations? What if the client changes their mind in the middle of the project? If you know about possible hurdles, you can develop systems to counteract them.

These questions will help a team start their project on a firm foundation. Don’t hesitate to ask questions to stakeholders; the answers will help improve the quality of your end product.

At Number8, our philosophy is to empower our clients to produce better software, faster. We are experts in augmenting scrum teams with senior consultants that can help increase team velocity immediately. If you’re interested in learning more about Number8 and what we do, give us a call at (502) 890-7665, or check out our information page.

 

Outsourcing IT? What to Look For in an IT Outsourcing Agency

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Outsourcing is a great way to get things done at an affordable cost and avoid the hassle of adding more people to your staff. For example, you can delegate all of your IT maintenance requirements to an external IT firm instead of creating a new department for it in-house.

There are two opinions on outsourcing; some people believe it’s a great way to get the job done while others worry that outsourcing compromises quality and security. The quality of service depends on the competence of the firm you hire. Here are some things you should look for in an IT outsourcing agency:

  1. Substantial Industry Experience

Look at the amount of experience the company has before hiring them. Experienced establishments know how to interact with customers, understand priorities, and have a proven system in place. They are better equipped to deal with emergencies, unexpected delays, and last-minute changes. You can ask the company about their experience directly or look at the information provided on their website.

  1. Good Company Culture

IT companies often struggle to maintain a good company culture or work ethic, which can compromise the quality of service provided. Do some research into the company’s background to understand if their culture aligns with yours. This can be especially beneficial if you intend to maintain a long-term relationship with the outsourcing partner.

  1. Reputable Past Clients

Looking at the past clients and getting in touch with them can tell you a lot about the company. Ask the outsource partner to provide some referrals so you can discuss the quality of services provided with someone who has already worked with the company. Past clients will offer unbiased and straightforward information about the company. They will point out flaws and habits that you need to be wary of while highlighting the right qualities.

  1. Good Infrastructure and Technology

An IT company should have good infrastructure and technology. For example, you won’t want support from an IT company that still uses outdated technology and software programs. You won’t want to share vital information with an establishment that doesn’t have a robust and current security system in place. Make sure the company uses the best and most current technology so you can get the most consistent results.

  1. Strong Customer Support System

A reliable customer support system is the heart and soul of any outsourcing partner. Look for a company that spends time and effort on their customer support. There are many ways to identify a proper set-up; look for the characteristics mentioned below:

  • The partner offers multiple ways to get in touch. You can call, message, email, live chat, etc.
  • They provide a dedicated expert as your point of communication. You can go to this expert for all of your concerns.
  • They offer 24/7 support for emergencies. For example, IT maintenance and repair service will respond promptly if your system crashes, even if it is on a Sunday.

Good customer support is one of the most important characteristics to look for in an outsourcing partner.

  1. Wide Range of Services

Keeping track of multiple vendors and outsource partners is a drain on resources, which is why you should look for a company that can handle all of your IT needs. They should be able to provide on-site services, remote services, conduct new installations, dispose of old hardware, etc. If you can find a company that does everything you need under one roof without compromising quality, hire them.

At Number8, we help businesses optimize their operations with onshore, nearshore, and offshore outsourcing. Our teams–both foreign and domestic– provide effective communication and service that allow your business to grow at a rate that keeps up with your market. If you’re interested in learning more about Number8 and what we do, give us a call at (502) 890-7665, or check out our information page here!

5 Inspiring Things You Should Know About Elon Musk

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Elon Musk is a fascinating person. He is the man behind Tesla, the company that introduced revolutionary electric cars into the market. He’s also the force behind SpaceX, which is a private organization that launches rockets into space and frequently collaborates with NASA.

Recently, Musk created special flamethrowers and sent a Tesla car into space. He’s a man who doesn’t hesitate to experiment and pushes the boundaries of tech innovation fearlessly. Here are some of the most inspiring things you should know about Elon Musk:

  1. He Amassed His Fortune Before the Age of 30

Elon Musk became a millionaire when he sold one of the first companies, an online media-services establishment, to Compaq for $307 million. He was 27 years old at the time and ready to keep moving. He founded X.com, which eventually became the highly successful PayPal. Musk sold that company to eBay for $1.5 billion and earned a profit of around $180 million from that sale. He was already a success story before he established his two most significant projects; Tesla and SpaceX.

  1. Both Tesla and SpaceX Were On The Verge of Failure

SpaceX and Tesla are both successful companies now, but they came close to failure just a few years ago. SpaceX tried to launch its flagship rocket three times and failed. He lost a considerable fortune during those six years and was down to his last $75 million.

It took around $90 million to build a rocket at that time, which means Musk could barely afford another launch. He was the sole owner of the company, so he didn’t have much support. Tesla was also in a rocky boat. Their first product, the $100,000 Roadster, had several quality issues and faced many recalls.

Fortunately, both companies recovered. The fourth SpaceX launch was a success, which impressed NASA enough to give the company a multibillion-dollar contract. Tesla also managed to brave public distrust and launch successful products. The third-generation Tesla cars are a big hit. This goes to show that everyone faces ups and downs and need to be persistent.

  1. Musk Wants to Make Tesla Cars for the Masses

Tesla started with a premium product that most people couldn’t even dream of owning. They launched a fast Roadster with a price tag of $100,000, which put it firmly out of reach for most people. But Musk has a plan to create one luxury line, one mid-range line, and one mass consumption line. In 2016, Musk introduced the third generation Tesla vehicles with one model priced at $35,000.

Tesla has already made an impact on the automobile industry and has been a disruptive influence. Many other manufacturers are trying to follow in their footsteps and release their electric car models.

  1. His Work Ethic Is Not One To Be Rivaled

Musk works hard and has an unbelievably busy schedule. According to an interview, he has only taken two weeks off in almost 12 years. He also has 100-hour workweeks and only sleeps around 6 hours every night.

Of course, not everyone can or should follow this example, but people can get inspired by his commitment to his dreams. Musk has many goals in mind, and his current success is just a starting point.

  1. His Entrepreneurial Spirit Manifested Early

Elon Musk had a mind for business even before he was a teenager. At the age of 12, he developed and sold a game to a computer magazine for $500. That was big money for a child living in Africa back in 1984. It was a simple enough game named Blastar, and it wouldn’t get much attention now, but it shows that it is never too early to start. Ideas can come to you at any age.

 

4 Powerful Tips to Improve Communication at Work

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Communication is one of key pillars for any relationship. It could be a personal relationship, a friendship or a business relationship. People sometimes think that rules for personal communication don´t apply to a work environment but this is not true.  Every human has needs, emotions, hopes, values and dreams. And each person faces situations in their personal life that may sometimes impact job performance.

Staff turnover is one of the main challenges many companies face.  While employees come and go, many are less likely to leave if they are in an environment where they feel respected, rewarded, safe and comfortable.  People tend to be happier in work environments where they are confident enough to speak to coworkers and managers about their lives – this includes work related topics and personal ones too.

This is why communication is so important in the work environment, both among employees in the office and for those that work remotely. While maintaining good communication with employees who work together in the same place each day may seem straightforward, it is sometimes less obvious how to improve communication with those working off site. As an agency that specializes in connecting nearshore technical talent with U.S. companies, we’ve got some worthwhile insights into this challenge. Follow along for helpful tips to improve work communication, including communication between onshore and offshore workers.

Four Helpful Tips To Help You Improve Communication At Work

1. Employees are human beings, not numbers or metrics.

Many companies focus on growth, revenue and developing new products/services or improving existing ones. Sometimes by doing this, employees start to feel more like numbers, or pawns in a game of chess. When dealing with human resources, emotions play an important role. Employees are much less likely to make sacrifices for companies that make them feel like a cog in a wheel. It is tough to go the extra mile for a boss that doesn’t seem to take interest or care about anything but the bottom line.

According to Dale Carnegie, author of the award-winning classic: “How to Win Friends and Influence People,” the main thing people care about in life is themselves. Every person wants to feel important, valued and appreciated.

Henry Ford surely recognized this back in 1914 when he started paying his employees $5 a day. (This was a big salary increase.) He also reduced shifts from 9 hours a day to 8. By doing this Ford quickly solved a high staff turnover problem that his company was experiencing. This led to notable increases in production.

If a company can make its employees feel important, feel that their job matters and that they are important assets for the company, they are far more likely to do the extra work needed to go from good to great, and to take care of the company as if it was their own. While a motivated employee will communicate better, it is an employer’s responsibility to make sure employees know they are free to express what is on their mind.

2. Body Language Matters.

Over 50% of the things we say are non-verbal. Given this, learning body language is an important part of developing more effective communication.

If you are a manager, it is essential that you practice your body language skills so that when you speak with your employees you can transmit your ideas in the best possible way and avoid any misunderstandings of what you are trying to convey.

Things like maintaining an upright posture, making eye contact during conversation and keeping your chin up will radiate confidence and those around you will see you with respect.

Besides using body language to communicate well at work, it’s also important to understand body language signals in others. This might be especially important when dealing with offshore employees that normally communicate through apps like Skype or Zoom.  Knowing how to identify body language signals like face and eye gestures and tone of voice will enable you to read between the lines of the message that a coworker wants to transmit.

3. Make Yourself Available to your Co-Workers.

One of the easiest ways to make yourself accessible to coworkers is to simply tell them that you are available. People want to know they can count on you and the only way they will know this is if you communicate it. People want to know that their colleagues are people that can listen to them and understand what is going on.

Sometimes it may be difficult for people to communicate issues directly, especially with a manager. In these times, it can be useful to have a way for people to anonymously ask questions or even express complaints. Having a channel of communication that enables people who are too uncomfortable or shy to speak directly to leaders is a great way for a company to stay informed about situations they may otherwise not know about.

4. Share Something in Common.

Many of the best managers are comfortable sharing something about their personal lives with their coworkers. They might participate in a fun office outing or simply take an interest in the lives of their employees. Something as simple as remembering a birthday can make an enormous difference to a person’s morale at work.

This type of leader tends to be one that can talk about any topic with employees, not just work-related things. Often these more informal conversations help to build trust and work satisfaction. They also improve overall communication by making people feel more comfortable and secure.

Take the time to develop relationships with your coworkers and create a trusting environment for people to open up to you. You will likely be pleasantly surprised by the results.

5 Must See Places When Traveling To Peru

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For the nature lover at heart, Peru features many landscapes to be explored. From jungles and deserts, to mountains and beaches, the South American country is rich in archaeological sites and biodiversity. It’s also commonly referred to as a bird watcher’s paradise, with over 1,800 species of birds across the country. Additionally, both the colonial city of Cusco and the capital city of Lima are full of night life and delicious local dishes.

However, if you’re looking for something a little off the beaten path don’t miss these 5 sites:

1. Machu Picchu

Considered one of the 7 Wonders of the World and the post popular tourist destination in all of Peru, Machu Picchu sits atop the Andes Mountains. Built in 1450 A.D. these ancient Inca ruins were home to more than 500 South American Indians. While there are many ways one can access Machu Picchu, the Inca trail is the most famous. It takes 4 days of hiking and features a stone stairway known as the “Stairs of Death.”

2. The Amazon

The Peruvian Amazon is commonly described as the most biological diverse section of the Amazon Jungle and takes up 60% of Peru. It’s also the 4th largest rain forest in the world and is teeming with exotic animals. Whats more, the Amazon Basin is part of the largest jungle in the world and home to many indigenous tribes, making it one of the most unique places to visit in Peru.

3. Huascaran National Park

Known as the highest tropical mountain range in the world, this protected area is home to many snowy peaks, glaciers and lagoons. Though Huascaran National Park has many hidden gems, the most popular hiking destination is Laguna 69, a breathtaking crystal lake and 1 day trek.

4. Paracas National Reserve

Paracas National Reserve is the only marine protected area in Peru. It’s vast landscapes feature a striking coastal desert, dramatic shoreline, as well as many cliffs and rock formations. Known for it’s wildlife, travelers are likely to see sea lions, seals, penguins, and birds galore.

Peru mountain

5. Rainbow Mountain

Officially named Vinicunca, Rainbow Mountain is a colorful hillside of the Andes. It is the most recent tourist spot on this list as the mountain’s colors actually remained hidden until 2016 when snow melted away to reveal a rainbow. The vivid colors are formed by weathering and sedimentary mineral layers exposed by erosion.

At Number8, our development team travels throughout Peru for both business and pleasure.  If you are interested in learning more about our company, and what we do in Peru, give us a call at (502) 890-7665 today!

When Small Businesses Should Turn to Outsourcing

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Outsourcing is a buzzword right now. Companies, large and small, are seeing the benefits of outsourcing and taking advantage. However, more often than not, the larger companies are the ones who truly take advantage of outsourcing. This is mainly because they have the funds and the work to do so efficiently. That doesn’t mean small businesses can’t benefit from outsourcing. They just have to approach outsourcing for small business wisely. And be sure to only use it when it is sure to benefit the company. So, where does a small business owner start when considering outsourcing? With just that – a consideration.

Pairing the consideration that business could benefit from moving work outside the office with an assessment of the business practice is a good place to start. This way of thinking will ensure that small business owners are making the right decision at the right time. Only once a lot of thought has gone into how outsourcing can help your business will it be time to look into outsourcing options. Follow along to learn what should be considered when looking into outsourcing for small business and where to start.

Four Signs Outsourcing for Small Business Could Help Your Company

1. The Same Problems Keep Coming Up

Every business, big or small, experiences a problem that continues to come up. Maybe it’s a part of a quality assurance checklist that is constantly overlooked. Or, perhaps, the team is unable to effectively deliver one of its promises time and time again. If there’s a particular aspect that the company continues to struggle with, it may be time to outsource that aspect.

There are a couple of questions business owners can ask themselves to determine if outsourcing is the best option. First of all, is there someone within the company who can take the work on? Can they do so without compromising their own set of day to day tasks? Secondly, can the company afford to pay this worker less than what it would cost to hire an outside agency? It’s time to outsource that work and keep the company moving forward if “yes” is not the answer to both questions.

2. Requested Work is Out of Your Wheelhouse

Another time to consider outsourcing is when work requests are coming in that your team cannot handle. Perhaps they don’t have the bandwidth to get it done effectively. Or perhaps the experience just isn’t there. Regardless of the reason, if there is work that needs to be done and your employees don’t have the ability to do it, it may be time to outsource that work. Another opportunity to outsource when work is not in your wheelhouse is when it concerns a chief officer within your company. There are plenty of agencies that supply CMOs, CFOs, or CISOs to companies struggling with filling those positions or functioning without them. That’s one of the beauties of outsourcing — no matter what it is you need, someone out there has it.

3. A Lot of Your Time is Spent on the Same Tasks

Do you find your day-to-day within the office is spent on the same tasks that could be chalked up to housekeeping? Perhaps you’ve observed that some of your most competent workers are spending too much of their time on tasks below their skill level. Regardless of the reason, if you can automate mundane tasks then do so by all means. Find programs to help with social media posting, billing, and additional clerical work, data entry, and the like. For all other tasks that you’d like to delegate to someone that is not a crucial member of your team, outsource. Some tasks can be outsourced to interns, so look at local colleges for interns interested in a career in IT. Other tasks can be outsourced to third-parties, both nearshore and offshore, depending on what kind of turnaround time you’re needing.

4. Your Creativity is Not Meeting What’s In Demand

Most companies that deal with website design, inbound marketing, or social media management have a grasp on creative tasks. Whether it’s an entire design team that remains in-house or a single person who is an expert in all things creative, if your company is cranking out design work, there is a designer on staff. While a single creative member or a team of designers can get a massive amount of work done, what will you do if a client requests video work? It’s not feasible to hire an entire video department for a one-off project, but you can adjust your pricing to cover outsourcing a video project.

Outsourcing may add a few lines to your company’s month-to-month balance sheet, but the benefits of it often far outweigh the cost. When applied correctly, to the appropriate aspects of a small business, outsourcing can be extremely beneficial. At Number8, we offer nearshore outsourcing services to a variety of business across the United States who need help with developmental work. If you’re looking for a team of experienced developers to help your small business churn out software development, contact us by calling 502-890-7665 today!

Preparing for the Remote Work Culture

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If you’re making the transition to remote work after working in an office from 9-5, 5 days a week, you’ll quickly learn a notable difference in the work culture. Whether you’re looking to work from home or are an employer wanting to outsource tasks, getting familiar with the customs of those who work remotely will help you know what to expect.

Here are 3 unwritten rules of remote work:

1. Everything starts on time.

Because you’re not sitting in traffic during your morning commute, there’s really no excuse for being late. In the remote world, meetings start on time down to the minute. One of the biggest benefits of working from home is that it allows you to better manage every minute of your day. Couple that with the fact that you could be collaborating with someone in a different time zone, and every minute really starts to count. To make sure you don’t experience a technical delay, get used to checking your equipment early each morning.

2. Communication is key.

Sure, communication is key in any work situation. But when you’re communicating with someone who isn’t sitting in the next cubicle, it becomes even more prudent. In fact, 90% of how we communicate is nonverbal, so if you’re working remotely online, it can be easy for a few things to get lost in translation. Expect to over communicate by being prompt in your responses and utilizing the many tools available to you. Remember that the tone of online communication tends to be straightforward and casual. When it applies, provide links or visual examples for full transparency. Shared calendars and collaborative applications can help to keep everyone on the same page, whether it be project deadlines, tasks or vacation days. 

3. Nurture workplace relationships.

Yes, workplace relationships are still a thing when you work from home. While they can be hard to cultivate because of language barriers and time zones, a good workplace dynamic is an invaluable asset and can help ensure a project’s success. Taking the time to build camaraderie through friendly correspondence can go a long way. When possible, opt for an in person meeting, video or phone call, and consider using a chat app for water cooler talk.

As an employer, think about implementing a remote work policy to help establish standards and keep everyone accountable. A company mission can help communicate your vision and values, and as a result keep remote employees motivated.

At Number 8, we help companies connect with qualified remote employees to help with software development. We also focus on helping companies improve their internal IT processes. If you’re interested in learning more about Number8 and what we do, give us a call at (502) 890-7665, or check out our information page here!