Funding your Startup Ideas Providing Services Is it a good idea or there are any other alternatives


October 18th, 2015

Normally In startups in Bangladesh( the Country Where I live) there's no investment ecosystem and finding a penny from investors is pretty tough. So, we started selling our services I mean Software Development expertise and with that fund ourselves and keep the startup running.

But working in Services also takes a long time and We are not engaged in our Startup Idea that much we should  because there's been always clients call and knocking for their services and clients are never happy.

Are we doing anything wrong  or Should we restructure our process ?

Thanks a lot for your suggestions in advance. 

Michael Brill Technology startup exec focused on AI-driven products

October 18th, 2015

This is a problem that occurs in the west as well... so don't feel alone!

One possibility is that you raise your rates such that you can pay local development rates and then pay your startup team from that margin. You do this by narrowing your focus and getting really, really good at a few things instead of competing with every other team who lists 50 technologies they work with.

Another possibility is that you partner with a company that has money. If someone is in the space you are and they have money, what they may be missing is substantial development resources. If you can provide that and pursue your product goals and get a significant chunk of equity. That obviously takes research and luck, but it's a possibility.

Also, there's got to be some startup support... at least in Dhaka, right?