Many people dream of breaking into the IT industry, which is commonly regarded as a very much promising and lucrative field. Beginner business owners, who have at least some experience in IT, are often convinced they will start raking up money as soon as their companies start providing IT development services or create various software solutions for other businesses. Though the IT industry is thriving nowadays, it has never been more challenging than today to make a profitable IT company. The competition is quite high in this industry, no matter your specialization. Whether you’re a time-tested multimedia software company or a small web design startup, you should be ready not only to equal but also excel your rivals. And don’t forget about choosy clients, whose demands you must satisfy to remain afloat. It’s not a secret that lots of reputable software development companies that once could afford to provide their employees with generously paid on-site training and boasted unlimited PTO now have to employ austerity policies. If you also struggle to survive in a competitive environment under pandemic conditions or have just set out to establish an IT company, you may benefit from today’s article.
Dream Team
Creating a successful business without any assistance sounds like utopia. You need to build a team of loyal, experienced, and motivated specialists genuinely interested in creating high-quality products capable of satisfying even the choosiest of the customers.
Don’t expect that you will be able to create a brilliant core team from the get-go. Of course, you can have a couple of loyal geeks eager to share the IT business hardships with you. But that may not suffice to create a successful company.
Try to enlist the help of those people you can trust. It doesn’t necessarily have to be an IT expert, well-versed in the subtleties of web development, artificial intelligence, and the like. It can be your fellow student, childhood friend, relative, or a like-minded colleague. What you should be looking for is a leader ready to take the initiative to attract the right people to your company.
That being said, you also want to have someone well-known in the IT community. Having such a person means they are dedicated to growing experts, not just taking the first person he finds and allocating them to a project. Add in a strong project manager and software architect to your team, and you’re off to a good start!
Get Inspired by the Best
There are tons of successful IT companies whose example can motivate and inspire you. You may want to familiarize yourself with their success stories, technologies and marketing strategies they utilize to conquer the market, and much more. In other words, if you’re new to the IT industry, you can benefit a great deal from beholding, analyzing, researching, and comparing. Know your competitors, their strengths and weaknesses to devise your own growth and development strategy and decide on the techniques and tools wherewith you can achieve the best outcome.
You can get the portion of inspiration right now by checking out some of the most viable, financially prosperous, and popular IT companies.
- Movavi. It’s not a secret that outsourcing IT services offshore is currently riding the crest of popularity. And when it comes to delivering high-quality software development services, the companies from Eastern Europe are indisputable leaders. If you ever considered outsourcing IT services for your business, chances are you’ve heard about foreign and Russian IT companies. They now provide the best quality solutions for reasonable money. So, you might also hear about Movavi, a software development company that is known mainly for its versatile video and photo software. Since its establishment in 2004, Movavi has grown from a startup run by a small group of enthusiasts to an international business with several hundred employees. Their wide range of software products is currently sold worldwide.
- Itransition. This long-standing technology company was created in 1998 outside Denver and has achieved enviable heights since then. Itransition now has offices all over the US and Europe. The company brings their extensive experience and expertise to the table to deliver the best IT solutions to their customers. What’s more, the company boasts impressive employee retention rates and constantly works at building a strong workplace and customer-oriented culture. The company employs talents from all over the globe, including experts from top countries for startup.
- Oxagile. Oxagile is a software development company headquartered in New York. Established back in 2005, Oxagile currently enjoys the reputation as one of the most influential artificial intelligence companies in the market that design custom software solutions for finance, banking, real estate, and healthcare industries. It also specializes in BI and big data consulting and web development.
Keep Abreast of Technology Trends
It’s a rare IT company that can succeed in business without employing the latest technological achievements. Every five years, there occurs a technological shift that makes IT companies revisit their arsenal of tools, strategies, and services they provide. If you fail to keep pace with digital metamorphoses and tech innovations, how can you help your clients tap into the power of machine learning, the Internet of things, and blockchain? How can you help businesses reap the benefits of virtual reality, and comprehend the actual value of payments transformation?
It’s critical for the success of your company that you train your team members, help them hone their current skills and acquire new ones. You may also start blogging and encourage the spread and exchange of expertise and knowledge. Finally, make sure to always consult with your team and be open to recommendations and propositions. Just because you are in chance doesn’t mean you are all-knowing and immune to overlooking some important tech trends.
Final Thoughts
Building a successful IT company is a very responsible, laborious, and tricky undertaking. The pandemic imposes lots of restrictions on modern businesses. The competition is also very high in this IT industry. It comes as no surprise that presently, so many startup firms and IT giants find themselves unable to withstand the difficulties that befall them. But you’ve also familiarized yourself with the success stories of some reputable software development companies that persevere to remain successful today. And now you know what easy steps you can take to ensure that your company is competitive and profitable. Hopefully, you’ll heed these recommendations and take your IT venture to the next level!
