How to minimize the cost for establishing a startup

Useful tips from development company

The goals of a startup:1. Low cost development for a functioning prototype. 2. Minimal number of secondary features, maximum main features. 3. The shortest time for functioning prototype development.4. Possibility to raise investments and proceed with alfa-version of the product.

Some of the goals are mutually exclusive:

- You cannot get the necessary functionality too quick.

- Low cost reduces the function set.

- Quick and low cost: either of poor quality, or not that low cost.

What to do?

5 things you should pay your attention to: 1. Idea & Monetization;

2. Feature Driven Development (FDD);

3. Agile - how can it be useful for you?

4. Budget.

1. Idea & monetization.- Make some market research to be sure that you idea is commercially viable.

- Analyse the necessity and the most appropriate types of monetization before starting the development.

- Based on the prior research create the mockups of your product.

- Write detailed specifications and usecases of your app.

2. Feature Driven Development (FDD).

According to this statistics:- only 20% of the functions are used regularly; - 64% (!) of the functions the users never really use. As a result a greater part of time and costs spent on the development are eventually wasted.- 16% of the functions are used from time to time. It is not critical if these functions are added later.Conclusion: for the functioning prototype you really need only 20% of all functions you are planning to integrate.

The results of your ignorance:

- Startuper wants to get significant results in a short period of time to meet the deadlines.

- Project manager/ developer does not inform the product owner about any problems as they get paid for the time spent.

3. Agile - how can it be useful for you? The Agile Development is an alternative to traditional project management.

Scrum is the most simple and flexible way to work by Agile methodology. It presupposes empirical feedback, team self management, and striving to build properly tested product increments within short iterations.

The advantages of Scrum: - Constant communication allows you to monitor the budget.- Iterative development make the process flexible and allows respond to the changes.- Continuous testing allows you to have a working version of the product at hand. - Getting the functioning version of the product in a short period of time.Isn’t it what you aim at?

4. Budget.According to the The Standish Group research:

- only 32% of all projects are successfully completed (in time, on budget, covering all functions);- 44% are delayed/have cost overrun/have limited functionality ;- 24% have failed/are not used.

How to minimize chances of failure:- The first step is to write detailed specifications for the project.- Determine the limits of your budget. - Make a private "Agile Contract", in other words: if you want to add some new functions - you need to exclude some of the old ones.

...generally speaking, take all the above mentioned issues into account.

What can we offer you: - consulting concerning the concept/viability/monetization of the app;

- writing the necessary documentation (specs or GDD) and creating the wireframes;

- guidance of our Project manager, which are free of charge for you;

- possible discount on our services and up to 6 months warranty and support.

Our contacts: Our website: mlsdev.comPhone:US: +1 (951) 888-4481UA: +380 (50) 186-1409Email: General questions: mail@mlsdev.comSales representative: sales@mlsdev.com