Product Development Services 2.0: Startup Success for Venture Capitalists
In 2015, venture capitalists invested almost $60 billion in more than 4,000 deals. This is despite the fact that most, if not all, know nine out of ten startups will fail.
Obviously, partnership alone is not a panacea for all business challenges, but it can definitely help address the issues mentioned above. By delegating some activities to your partner, you free up resources that allow you to manage other areas. Provided that both you and your partner keep the success rate of all the events at a level of 80% or more, the combined effort should result in at least a 20% likelihood of success.
In other words, instead of one startup succeeding out of 10, you end up with two. You double your chances of success. Impressive, right?
This is possible only when you choose the right partner, one you trust and who is capable of fulfilling your needs. Finding such a partner can be a totally new game for VCs that involves new risks and uncertainties.
How do you ensure a potential partner is mature enough? Does your partner have enough of the right capabilities and expertise? In my next blog posts, I will try to answer these and similar questions to help you minimize risks associated with product development.
Meanwhile, find out how SoftServe’s solution helped one client maximize productivity and efficiency while building a collaborative and sustainable environment – the building blocks of any successful startup.