As many people think that doing business is easy. it is right also to some extend but without experiencing a jump in business war is not intelligent work. Because many unseen things need to face in the startup of new business especially in IT.
In IT industry need to consider many things. It is not much easy what people think about it. This is not a business for everyone that is the reason many plans to in this business. But unfortunately, not work for the long term because they face many unseen things.
For better understanding here we will discuss the areas in which many people step down from the IT business. These things need to be understood properly to overcome on IT business smartly. Following is the list of unseen things which we need to consider in the IT business.
1. Big Investment
For starting of IT business many people think that they need small investment. But in actual this is wrong big things need big investment. The business which starts with the compromises always ends within the compromises. So be aware must have a good investment to handle time to time obstacles.
2. High competition
Due to high competition exists in the market many newcomers fall down. Because mostly they forget every good thing takes time. Due to high competition definitely, they have fewer chances of getting customers. Because others already doing their best to get them. So a big amount and patience are the key here.
3. Office startup cost
The office is the main thing for every business. If you don’t have it, its means you are not a real company. People or customers will not give you chance because your existence is similar to the fake. So just need to have an office no matter you have a few computers or laptops in the office. Office existence matters a lot.
4. Wrong client handling
Most of the time new businessmen or IT firms do not understand that client is everything. I have the client has growth if not have client-only bad survival possible. So wrong handling miss-commitment is not a good way to handle the client.
5. Over commitments
Many new companies have a very big issue they prefer to get maximum clients even with over commitments. Which they also know they can’t deliver it to clients but to them, they do so. The commitments mean fair commitment which the team can deliver to the client, not the fake one.
6. Clients Manipulation
Linger on the game with the clients is not a smart and long-lasting game. The first time or could be it will be last time because clients are also not fooled, they have a market and the idea. That much time is required for the particular work.
7. Struggle for clients
Many new businesses are not willing to invest some efforts in mining for the clients. For them, they think the struggle is a time-wasting activity. That’s why they invest too much funds on different things to get clients faster than others. That is not the correct way.
8. Searching for professional candidates
Most of the time the new team or new business is not too qualified in a particular field. As they are not experts by self that’s why hiring by them is not up to the mark. Because they don’t know for which work which candidate is suitable. That’s why their hiring of candidates is not up to the mark.
9. Issue in problem handling
If the business is new and the team is also new and has less understanding. That leads to a high gap in professionalism. as if any issue creates no one takes responsibility to handle it. The more issue means more misunderstanding for any particular problem related to the work.
10. Problem in financing
Finance is a big issue for the business but if misuse in different things. it remains a big issue for the companies no matter companies are new or old but this matters a lot. Because all companies need good cash flow and strong financial backup for better handling of business. Most of the new businesses do not consider this matter in beginning wrong decisions create a problem for them.
11. Security issue
With the new firm, the main thing Is data and task or the project security. As they have very immature staff who can do anything with the data and can switch jobs as well. That is not good for the company and the client as well. This is the big risk associated with the new company and respective client.
12. Hard to get customer trust
This is a very difficult job for the new companies to win the trust of the customers. As IT sector customers don’t trust easily, they take time and judge things about the company. Because of many companies and a lot of competitors in the market.
13. Difficulty in internal team management
Due to unprofessional hiring and firing the internal team management and rules-making become difficult. All things are based on the experts’ people which means new companies also take time to be a good company. For a better team must need smart people and smart control.
14. Time management issue
New companies only commit the timely project delivery. But in actual they are not doing it. This is a big matter of time management with them. As they commit, they are not fulfilling it which is not good for the reputation of the company.
15. Wrong understanding of customer ideology
Due to a lack of professional team clients need to do too much effort to give their ideology to new firms. Even with too many efforts by clients the company most of the time nor get the same ideology about the projects.
16. Lack of focus
Due to a lack of focus on different things like the Risk of data leakage, Low legal handling, and small setup issue. They mostly engage in internal matters rather than in the projects by the different clients.
17. Outsourcing to other firms’ issue
Most of the small firms when stuck at any stage they outsource to expert firms like @TKDigitals. But they are not fair enough with the client to share things fairly with the client. New companies mostly survive when they have a backup of some expert firms.