THE PHAT STARTUP | STARTUP BASICS | OUTSOURCING TIPS [BONUS VIDEO]

STARTUPS, STARTUP-LIFE, STARTUP-GRIND, THE-PHAT-STARTUP,HUGO-AVILES,HUGO-D-AVILES

The importance of understanding the fundamentals

Most startup entrepreneurs get so caught up on the emotionally mundane tasks of launching and growing their startup that they forget to take care of the fundamental basics. Simply put, entrepreneurs and startups need to get back to the fundamentals. You need to learn to take the time to acknowledge the fact that there is a significant amount of information with regards to your market and industry.

Society and the media have conceptually trained the brain to psychologically go after the wins. Time and time again, the media portrays the admirable role of a young teen launching the next big million-dollar app. We are than emotionally stimulated and our neurons are filled with dopamine giving us the desire that we too can launch that next million-dollar tech startup.

In the real world, this is not the case. You need to comprehend earlier on in your career that you need to do your due diligence and get back to the basics.

THE-PHAT-STARTUP, HUGO-AVILES, STARTUPS, HUGO-D-AVILESThe Phat Startup

I found a great site the other day that focuses on the basics of young startups. Being a young hip-hop enthusiast myself, I could not help but to give respect where respect is due.

The Phat Startup ( http://www.thephatstartup.com/ ) is an educational platform in its introductory phase of the Internet life cycle that people could use as inspiration or to get started during their journey as a startup entrepreneur. Check out the following video with Chris “Broadway” Romero the co-founder of ThisIs50.com , as he gives some very powerful insights on building an Internet startup.

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The importance of understanding your customers

Now as I transcend back to the fundamentals of young startups; entrepreneurs need to put the slides, projections, calculations, and charting materials away and get out of the boardroom. You need to realize that your business plan is just a hypothesis. During your growth phase of the startup lifecycle, you need to take the time to leave the office and go talk to the consumers in order to understand what is going outside of the building. In strategic business consulting, this is known as “CUSTOMER DEVELOPMENT”.

The four steps in the customer development process are;

1. Customer Discovery
2. Customer Validation
3. Customer Creation
4. Company Scale

The following four steps act as a process that happens outside of the building. At the same time, while these four steps are being executed, the engineering team needs to run an agile development model to work in conjunction with the studies of the customer development process. Simply put, do your due diligence, find a niche, get feedback, launch a development product, get feedback, fix product, get feedback, launch final product.

In an internet and web based business model this process can be analyzed very quickly as there are a significant amount of metrics based analytical tools that will help you determine whether you are going viral, sticking, scaling, obtaining unique hits and visitors, ect.

The greatest part of this process is that a significant amount of the scaling, customer development, and even engineering can be outsourced.

OUTSOURCING, STARTUPS, HUGO-AVILES, THE-PHAT-STARTUP, HUGO-D-AVILESWhy Outsource?

Outsourcing wasn’t much in vogue until a few years back. In fact, people even thought it quite embarrassing to tell someone that they were outsourcing their work. The general impression was that they weren’t up to the task and the unspoken belief was that outsourced work would always be of an inferior quality.

But times have changed. Today, not only has outsourcing become very popular but it has also practically become the norm for businesses. With the grand popularity that home businesses have achieved, the popularity of outsourcing has reached its zenith as well. For, how could a single person working from home carry out all tasks related to a business without depending on a freelancing professional whom they can outsource their work to?

Here are the top reasons why you must consider outsourcing your business:-
→ You can take up more work from a better range of clients because you have an army of people working with you.
→ You can get diversity in your team. When you find different outsourcing professionals, you find that these people are of different qualifications and skill-sets, which means you can even take up work, which you were initially avoiding because of your own limitations.
→ You cannot handle all the tasks related with a business alone. There will be several things you are not very conversant with and things that you don’t like doing. If that is the case, you might find outsourcing to be a great option to accomplish these tasks adequately.
→ Outsourcing definitely helps you meet deadlines better.
→ For some people, outsourcing is also a means of reducing costs. If a particular service is expensive in your part of the world, you could find a professional from another part of the world where that particular service is cheaper. A lot of people outsource work from the developed countries to the developing countries where the economic equation helps them reap better savings and stay within tighter budgets.

Most importantly, when you work from home, you might find yourself to be quite lonely, especially when you have to take important decisions. However, when you have intelligent professionals in your team, you do find this task easier.

STARTUPS, STARTUP-LIFE, THE-PHAT-STARTUP, STARTUP-GRIND, HUGO-AVILES, HUGO-D-AVILESThe best place to get outsourcing professionals is the online job sites. The following is a list of the 10 most commonly used outsourcing sites.

LimeExchange (http://www.limeexchange.com/)
oDesk (http://www.odesk.com/)
GetACoder (http://www.getacoder.com/)
GetAFreelancer (http://www.getafreelancer.com/)
ScriptLance (http://www.scriptlance.com/)
EUFreelance (http://www.eufreelance.com/)
eLance (http://www.elance.com/)
Guru (http://www.guru.com/)
RentACoder (http://www.rentacoder.com/)
PeoplePerHour (http://www.peopleperhour.com/)

The world is yours…
Hugo D. Aviles

Twitter: @hugodaviles.

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