For some additional context, I would love to learn if there are barriers to directly accessing an agency’s talent to help entrepreneurs get off the ground.
Software dev agency owner is here.
It doesn't create any barriers if you are a non-technical entrepreneur. Modern software development processes (agile-based) allow you to have a clear picture on daily progress so you don't need to read the source code.
Here is an example of such a process described in detail: https://datarockets.com/blog/transparent-development-process/
When you look at outside groups such as digital agencies to help bring a digital product to market, you should look for agencies with a specific background for business incubation and/or acceleration. The assumption here is that since you don't already have a product in the market, you need a partner that can not only help develop the product, but also has the experience with the menial tasks of market insertion, operations and all that goes into getting the product off the ground. That's what these sort of agencies specialize in.
The challenges/barriers you will typically find with a traditional digital agency instead of an incubation partner is that most are motivated by the cash flow and discouraged by having to dig in and do the dirty work. Most agencies look for clients with existing products or market share because it's a little easier to manage and direct existing momentum. So unless you have the capital up front or an overtly good idea, look for an incubation specialist in your area. These are also great places to find mentors and industry professionals with existing networks to help accelerate a startup.
The trade off here is that incubations look at taking equity in the product or company so that their work is more of a long term investment. This can be a good thing as you now have a partner with a vested interest in making this succeed, whereas a traditional agency can just walk away or bail at any moment if they just decide they no longer see value and then you lose your investment and end up having to start over.
Hope that helps. Cheers!
Hi Pavel! Really appreciate your response.
Makes sense for the initiated like ourselves.
However, for the uninitiated, where do they go if they want their own digital products for their business?
Chris - Work with agencies that allow you doing that. I owned one such agency in India once. We still have it but we built our own product and are not taking up projects aggressively. If you would like to get on a call, and if you help me understand what you are looking for, i might be able to give you some valuable suggestions.
If you are building a digital product, make sure you have some runway and also, the most important thing is to continually think of how to get it in revenue quickly. That is one mistake most of our customers did while when we launched our own product, it was in revenue from day 1.
Let me know if you would like to chat. Wish you success!
Chris, Drop a line to Tripin Studio if you wish to discuss possibilities. The team is working with only disruptive startups and has established clients in the entertainment, retail and Mfg sectors https://www.tripinstudio.com/entrepreneur.html. Their team experience is not just agency work but they have industry stalwarts with ground breaking digital experience.
They have supported startups in their acceleration in form of Advisory, Sales & Mktg, Access Funding and supported in exchange of equity + fees based on outcome expected by founders. It helps to have a long term solution with such arrangement so that you focus on your business. However, it is also based on the startup idea. If they believe in what you believe then it will work with them.
All the best..!