In this blog I would like to discuss the various factors which pose as an challenge for the growth of smaller software companies.
1. No idea about the market
When the companies enter into the market, they have very little or no idea about the current market situation, have less amount of analytics. This situation makes them unclear about the problems they are about to face in the market.
2. Unorganized business segment
Since the market is largely unorganized for the domestic industry per se, the cost factor will be key for the growth. Due to unhealthy competition prices are not organized and they become volatile.
Due to the very problem of high attrition rate and Industry own high pay scale issues funding needs to be the key. The smaller companies get into the viscous circle of not getting paid by the customer in time due to no clear definition of success.
4. Lack of documentation
Documentation and process is lacking which will be taken as an advantage by the customer. Documentation involves quite an amount of process understanding rigorous auditing by the organization.
5. Failure to learn from mistakes
When we fail to learn from mistakes we tend to end up in an bigger problem. This happens with the smaller organization. Smaller organization focus only on getting the business, but instead they should focus on getting sustainable business.
Open for comments & Discussions.