It is so refreshing to be meeting up with so many different entrepreneurs in digital transformation space and understanding some of their innovative ideas. It is amazing to see the energy levels of all these entrepreneurs and the level of commitment that they have for the ideas that they are chasing.
While ideas are great, it takes two important things for them to be able to realize their dreams and create a working business model. One is of course the right level of funding and the other is the right technology mastery to ensure that ideas can see the light of the day in the most efficient manner possible.
To add to the above point, every innovation has a shelf life, which is typically based on how soon it can be copied or aped by another competitor. If the other company has better branding muscle and reach to the target market and they can bring out the innovation to market sooner, then you end up losing your market share. Worse still, if you end up taking too much time, before you get the product to market, the market may already be cluttered or the requirement for such a solution might not even exist.
The bottom line is that time is of essence and it is extremely important that you are able to meet ‘time to market’ targets on your innovations.
A lot of companies take the outsourcing approach to several of their non-core functions to make sure that they can free up their time for their core activities. Nowadays, there are a lot of companies which also partner with others for technology expertise. This increasingly makes sense, given the time pressure you are under. Rather than having to source, on-board, retain talent, you can engage with firms, that have specialization in specific technology areas that you need. You can also ride on the management and industry experience of some of the founders in the process, something which you cannot simply manage by just hiring people.
Pratiti technologies is focused on helping entrepreneurs realize their innovations with certainty. The core team at Pratiti has over 25 years of industry experience and we have built some great competencies in the Cloud Computing Technologies and Data Analytics. We offer flexible partnership models, through which we partner with you to build scalable technology solutions to bring your innovation faster to market.