Maybe you’ve noticed that more and more software development companies are turning into startup studios. It’s not just a trend; it’s a smart business move. Here’s why it’s happening, in plain and simple terms:
We Know What We’re Doing
Software development companies like Mintbit aren’t just advising clients about creating new products; we’re actually doing it ourselves! This comprehensive experience in brainstorming and launching software products puts us in a unique position to assist other entrepreneurs, as we understand the twists and turns of the entire process firsthand.
The Perks of Being a Startup Studio
Shared Code: By using a shared codebase across products, software development becomes more efficient. Common elements can be reused, speeding up the process and enhancing the quality and consistency of the end product.
Shared Team: Software is (hopefully) built to be user-friendly and largely self-serve, with intuitive interfaces, searchable knowledge bases, and helpful onboarding. These user experience features minimize the need for extensive support, allowing an internal team to efficiently manage multiple products, significantly reducing employee-related costs.
Practical Know-How: Building your own products is hands-on learning at its best. It’s like a master class in understanding how to build a SaaS company. And that real-world experience translates directly to client success.
Cost Efficiency: Sharing things like code and team members means you don’t have to pay twice for the same stuff. It’s like carpooling for business. This optimization of resources not only lowers overhead but also improves financial viability by reducing redundancy and achieving economies of scale.
Final Thoughts
As a Ruby on Rails software development company with a team already in place to build great products, we believe that coupling the insights gained from creating complete businesses adds immense value. The startup studio model is more than a way to churn out new revenue streams; it’s a method that enhances what we can do for our clients.