So many of us do. However, looking at starting something like this from scratch, is truly starting a new business and requires much thought, planning and many “hats”. Here are some points I have used to assist others in grasping the needed vision, depth of effort, types of talent, and sustainability of the effort that will be required.
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Roles and Resources
It requires full time attention to each of these Roles and Resources:
1. Experienced and Qualified Prospecting and Sales force
2. Pre-Sales Preparation, RFP/RFI Replies, as well as Attendance at Presentation (Orals) – for each opportunity.
3. Attained Status as Preferred Vendor, or Vendor
a. Requires relationship with Client Companies
b. Requires meeting their criteria for becoming a vendor
1. Capacity to perform
2. Liability Insurance
3. Fiduciary Responsibility
4. Legal Compliance
4. Developers for the domains you wish to pursue, with the appropriate skill sets, and experience
5. Business Analysts and Business Architects for the domains you wish to pursue, with the appropriate skill sets, and experience
6. QA Leaders, Managers, and Testers with domain experience
7. Project / Engagement / Delivery Managers to connect with the Client and the Teams
8. Financial Resources to sustain the ramp-up of business, infrastructure, and delivery of services
9. Financial Resources to sustain Market Research, Marketing Strategies
10.Partnership Alliances – to give you value added leverage when positioning for new business
11.Budget that will include all the above, balanced with enough sales to justify the effort, or a plan for ROI over 5 years for investors.
12.Business plan and road-map that demonstrates all the above, and it’s veracity.
13.Staff on the ground – available, ready to work on-site, near-shore, no visa issues, or proven offshore teams that have a solid delivery history.
I am writing this not to discourage those interested in pursuing such a goal, rather to create curiosity and and interest in taking on the challenge. These concepts and work efforts are real elements that have to be in place before it can be a successful venture…. even for an established company wanting to build a new practice.
In other words, this effort requires at least:
Experts to Initiate, Drive and Deliver
Business Concept(s) meeting Market needs; Business Need/Justifications
Planning: Initial Steps to Initiate, Milestones at 3 mo., 6 mo., 1 yr, 18 mos., 2 yrs., etc. till 5 years
Identified Services and Products
Multi-Phase Financing: Start-Up Money, Mid-Term Money, Long-Term Money, Planned ROI’s for each phase
Market Research for Service / Product Viability,
Strategy for Launching the Business,
Scope of Ramp-up,
Planned New Business Market(s)
Ability to Staff and Deliver
Motivation, Determination, Desire, Mission and Purpose
Commitment to see it through
None of these comes pre-packaged, or comes easily. It all requires vision, leadership, experience, clarity, strategy, good communication, follow through.
I am certainly not giving away the store here, but sharing some thought work I have used to help prepare business not only in the IT world, but as part of my 12 yrs of Management Consulting before my last 19 years in the IT business! These principles hold true in any enterprise! I have written many accurate and successful business plans for new or international or established companies seeking investment money to fund a start-up.
As a thought leader and architect of Quality Assurance, and Business Process, I have learned through experience these tenets, which will not be learned so much at school, but by living it and delivering it – with successful outcomes. That does not mean there weren’t failures, or massive challenges along the way – that is where the real learning takes place.