7 Ways Your Early-stage Startup Can Benefit from Offshore Development Teams
Offshore development teams can streamline your progress as an early-stage startup in numerous ways.
There are a lot of limitations a startup has to work around during its pre-mature stage. One of them is competing with local giants for competent developers. Also, the feasibility of running a large tech team consisting of only an in-house team of developers and facilitating them with modern techs is another thing startups need to keep in mind when starting.
Offshore or remote development teams can be a saving grace in this regard for startups. There is a multitude of advantages an early-stage startup can get by hiring offshore development teams.
In this article, we are going to talk about 7 such advantages. Let’s dive right in!
Advantages Early-stage Startups Get from Offshore Development Teams
REDUCED OPERATIONAL COSTS
A study by CB Insights cites lack of cash as the top reason for startups failing. They conducted meticulous research on 110+ failed startups to figure out why they went out of business.
So, you see, resource maximization is paramount for a startup. For an early-stage startup, especially the ones based in cities that are global hubs for technology, it gets almost impossible to run a physical office and hire a team of on-site developers because of the excessively high living cost in those cities.
This is where startups can leverage Offshore Development Teams. Outsourcing your projects to an offshore development team can present you with the same output without the necessity of spending tons on an on-site office.
Moreover, if your startup is based in a country with high living costs, hiring developers for your in-house team can almost be impractical keeping in mind your financial might. For example, you can hire a senior dev from India at one-third of the rate you are going to pay for someone of the same caliber from the USA.
However, this doesn’t necessarily mean your offshore developer from India is getting exploited because you are underpaying. He or she is still earning considerably more than his or her country’s average salary for a senior dev and can lead a lavish life.
FOCUS ON THE CORE ACTIVITIES OF YOUR STARTUP
Hiring an offshore development team means you don’t need to worry about the tech side of your startup. Instead, your in-house team will be able to focus on core activities that need on-site collaboration and dialogues such as business goals, vision, strategies, and so on.
As an early-stage startup, you need to scale your tech teams fast. Plus, you often need modification of your tech stack. But with an in-house team scaling is time-consuming and tech stack modification gets tricky.
Offshore development teams can go a long way in both regards. As the hiring process is fast, you can upscale or downscale your team easily based on your tech stack needs.
While people often mention time-zone difference as a drawback to offshore development teams, early-stage startups can use this to their advantage. With offshore development teams, you can ensure fast product delivery and service all day.
A good mix of remote and in-house employees ensures round-the-clock startup activities. As a result, it’s easy to identify and manage a difficulty or bug immediately.
SHORTER DELIVERY CYCLE
Offshore development teams would ensure you have a large staff at your company. So, you can speed up the process of delivering your services and building your products. Consequently, you can enter the market quickly with your products/services. Get a head start on your competitors.
ACCESS TO A LARGER TALENT POOL
You are limited to only the local developers with in-house hiring. But with offshore developers, you get access to great developers from untapped markets around the globe. As you have the option to hire the most competent developers, the quality of your deliverables is never compromised.
You get a diversified team when you opt for offshore developments. People from different cultures can bring new ideas, innovations, and insights. Diversity and different perspectives are always helpful in generating out-of-the-box ideas.
OFFSHORE DEVELOPMENT TEAMS BROUGHT TO YOU BY BAN BASE
Ban Base helps you set up offshore development teams in just 20 days for your startup. We offer a pool of 650+ pre-vetted developers for you to choose from according to your company and project needs.
Moreover, if you are collaborating with Ban Base for tech hiring, we set you up with an Offshore Tech Development Office (OSTDO) with dedicated project managers for your convenience.
If you are a startup looking for a feasible and flexible solution for your tech development, try us out with a 14-day free trial.