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If you are someone running their startup, then we are sure that you must have difficulties involving and gathering clients and customers at some point in time. If the problem persists, make sure you stick throughout the entire article and check mark the essential tips curated specially for you!
Success and risk go hand in hand, and if you can’t take the risk, then there are chances you may take more time to gain success. Risk is the factor that can change anyone’s fortune, but you should be ready for a decline if you take non-calculative risks. The road to success is never too easy, and an individual needs to work hard day and night to achieve it. Even minor errors can lead to undesirable and devastating outcomes. So you’ve to be cautious while planning something big.
In the early days of a startup company, people get quickly involved with their clients during every small talk. Although the aspiring entrepreneurs get highly benefited from the discussions, they grasp the customer’s saying with ease and save time.
Because of the same necessity, budding entrepreneurs get advised to move out of the office and meet their customers in response to understanding customer needs and what solution suits the problem they are facing.
Benefits of involving clients in a startup
Considering the fact that in every early stage of a startup, the client’s and startup team should sit together and understand the customer requirements. As a problem solver for clients, you’ve to stay with them unless all the doubts get solved and conditions get fulfilled.
Most of the time, clients only need the desired results irrespective of the approach of the problem solver. The clients are just result-oriented. In this scenario, client involvement remains lowkey but can get risky if the result turns out opposite. Hence client involvement is risk proof and can deliver results in less time. Although many suggest that involving clients and customer feedback during the startup process leads to better productivity, certain risks need to be looked upon.
Today, in this article, we would be uncovering the risks involved during the client engagement process that can cost you many. Owing to this, we are suggesting four main factors to check when you involve clients in a Startup Process.
Guide to involve clients in the Startup process
- Monitoring the clients’ request
There are situations when a client’s requirements may change over sometime during the development stages. Many internal and external reasons may be the reason. But regular changes can hamper your time and money both simultaneously. So it is always a better habit to understand client requirements and how they are advancing during project development. If you adopt this rule, then you may save your development time and get paid for what you are assigned to do. If not, then you may end up in a bitter client and customer experience over time.
- How robust are your assets?
For any startup, cash in hand and knowledge remain the real assets. During interaction with your client, there are many instances that you may lose sole ownership of the learning you may have. Although there are norms, you may sign a non-disclosure agreement with your client, but this may not be enough. Therefore, before involving any client, keeping knowledge proprietary should be something you should opt for in the long run.
Moreover, client engagement takes time, and you may lose huge if there is a lack of timely attention. Also, before involving the client in the development process, one should be clear about how much money the other person gets in return.
If you don’t have much cash in hand, you may ask them for initial or total payments during development. If you’ve massive money in your tank, then no need to worry, but in the worst scenario, you have to push your client for timely payments. Time is money, and one shouldn’t lose it. Hence, one should be aware of the assets involved during the involvement process.
- Competition Analysis
It is unlikely that you might be the only one looking to leverage yours. It is not only you, but many other start-ups will be chasing the same golden egg. And while the ultimate aim is to make it “right,” getting it “out there” could be a successful intermediate tactic.
Secondly, offering the best solution for any problem could be a masterstroke. Yes, you heard it right. One won’t sustain themselves in the market if they suggest they can’t produce a better alternative to the problem. Nonetheless, one has to understand customer problems and deliver solutions without wasting time and effort.
- How innovative is the product that you develop?
One can figure out the client’s core needs as a developer, but involvement becomes necessary to give proper shape and design to the product. There are certain areas where client engagement can bring in more power to product development. Moreover, such improvements can be made for essential daily-based software such as accounting or inventory software.
But if you’re developing a product that is not available in the market and suits clients according to their requirements, that will make sense. Creating the non-existent is what one should focus on, which is relatable, accessible and robust.
Client engagement is a healthy process to start developing the product as they wish, but every entrepreneur should engage in a manner that has a low risk of losing time, money and effort.
It is solely because of such interactions and involvement with clients, customers, investors etc. that the entrepreneurs need to possess excellent communication and persuasive skills.
We at the Robust Story hope that our readers must have liked our article on the factors that should be kept in mind while involving a client in a startup. Also, make sure to remain updated with our Business section to read such similar and thought-provoking articles.