Have you ever wondered how Travis and Garrett (founders of Uber) attended a conference in Paris and became the owner of $17 billion Company? Or how Brian, Joe & Nathan (AirBnB founders) earlier rented mattresses at $80 and now run a $38 billion company? They have survived all the challenges every startup has to face like tight budget to outsourcing product development team, and many more. But there must be something that made them popular?
Well, among the lesser 10% startups that succeed the ones launched, they understood the pain points of the audience and came up with a digital solution.
These companies managed to escape the 90% startup failure ratio because they worked smartly and realized what they require to materialize the product idea.
And one of the approaches these giants adopted is ‘outsourcing product development’.
Do you know?
- As per Statista, the international outsourcing market size has reached $45.6 in 2000 to $85.6 in 2018.
- 65% businesses willto continue with the same outsourcing partners.
- Mobile app development is the most frequently outsourced service. Also 37% of companies plan to increase the amount of work they outsource.
