The Bootstrap vs. Raise Dilemma: A Startup Founder's Perspective

As a startup founder, one of the most crucial decisions you will face is whether to build an in-house development team or hire an external agency. Having navigated this terrain myself, I believe that in the early stages, leveraging an agency can be a clever move. Here's why:

Immediate Access to Expertise

When you are just starting out, time is your most valuable resource. Hiring developers is a lengthy process fraught with uncertainties. Team dynamics, vital for productivity, can take months to establish. In contrast, an agency provides an immediate solution. They offer a cohesive team that has worked together effectively on various projects. This immediate access to a well-oiled machine can accelerate your development timelines by 30-40%.

Cost and Time Efficiency

For many startups, especially those without technical co-founders, the initial phase can be overwhelming. You might find yourself spending months trying to hire the right talent, all while burning through your limited funds. From my experience, it is more pragmatic to use an agency during this period.

Agencies bring the necessary expertise and resources without the long lead times associated with building an in-house team. While you focus on what truly matters—developing your product and refining your business model.

Time to Build Your Internal Team

While starting with an agency has clear advantages, it doesn't mean you should rely on them for everything indefinitely.

Having an internal product manager or CTO is essential to ensure that your vision and strategy are consistently implemented. As your startup grows, you should gradually build your in-house team. This allows you to benefit from the agency's expertise while creating a stable internal team, culture and knowledge base.

TL;DR

In conclusion, leveraging an agency in the early stages of your startup can provide the immediate expertise and efficiency you need to get off the ground. As you grow, transitioning to an in-house team while maintaining a strategic partnership with the agency for specific tasks can help you scale effectively. This approach ensures you can adapt to changing needs and continue to innovate and grow.

As a co-founder of Cleevio, I have seen firsthand the benefits of this approach. If you can't code and have limited time and resources, using an agency can save you crucial time and help you make significant strides in your startup journey.

‍

Choosing between stealth mode and overhyped marketing is crucial for any startup. As a founder, I faced early on whether to build my startup in stealth mode or embrace overhyped marketing. Both strategies offer unique advantages and disadvantages, and the right choice depends on your product, competition, and overall strategy. So, which one is better for you?

Developing in stealth mode allows you to refine your product without external pressure. During the pandemic, I launched an app that quickly started making $100k a month, completely bootstrapped. We operated in stealth mode, focusing solely on perfecting the app rather than seeking attention. Even after Apple removed the app, we had made significant money, and no one knew about it.

From my experience and observations, many successful projects operate quietly yet effectively. For instance, several companies in the Czech market, with teams of around 15 people, generate over $500k in monthly sales without any external funding. They remain relatively unknown in the broader startup community but are well-known in their niche markets.

This strategy minimizes pressure and allows them to focus on building their products. However, some PR is beneficial for hiring new talent. As a development company, we are always hiring new talents, and local PR helps us connect with potential employees.

TL;DR

Deciding between stealth mode and overhyped marketing depends on your startup's specific needs, goals and market size.

From my experience, operating in stealth mode while maintaining targeted PR efforts, especially for hiring, has been the right path. Sometimes, a hybrid approach offers the best balance, allowing for focused development initially and leveraging marketing benefits when the product is ready for the spotlight.

Still not sure what's best for your startup? Check out our Startup Program or book a call with us now to learn how you can supercharge your startup.

‍

As a project manager, your workload can quickly become overwhelming. From planning and mitigating risks to organizing resources and budgets, scheduling stakeholder meetings, and coordinating daily operations, the responsibilities can pile up.

Fortunately, the rapid evolution of artificial intelligence significantly simplifies the role of a project manager. By integrating AI tools into our workflow, we enhance efficiency, stay on top of project milestones and deadlines, and make more confident decisions and plans.

Let's explore how two simple tools improve our project management processes, demonstrating the transformative potential of AI in our day-to-day operations.

TLDV: Streamlining Communication and Documentation

TLDV has become an invaluable asset in our toolkit, enabling us to streamline communication and documentation processes:

• Recording Calls with Clients: TLDV automates the recording of calls with clients providing a comprehensive record of agreements and discussions. This serves as a valuable resource for reference and facilitates swift resolution of disputes or misunderstandings.
• Facilitating Clear Communication: With transcription and summarization of calls, TLDV fosters clear and uniform communication between our team and clients - ensuring that everyone is aligned and reducing the risk of miscommunication or confusion.
• Supporting Knowledge Transfer: TLDV plays a crucial role in knowledge transfer within our team. Archiving discussions and decisions ensures that critical information is preserved and accessible to all team members, promoting collaboration and continuity.

ChatGPT4: Enhancing Workflow Efficiency

ChatGPT4, another powerful AI tool in our arsenal, excels in enhancing workflow efficiency and optimising various project management tasks:

• Assisting in Workflow Optimization: ChatGPT4 integrates seamlessly with project management systems like JIRA, assisting in refining workflows and optimizing task allocation. Its insights help us identify bottlenecks and streamline processes for maximum efficiency.
• Generating Reports and Specifications: From client reports to product specifications, ChatGPT4 automates the generation process, saving significant time and effort. Its ability to synthesize complex data into clear, concise reports enhances our communication with clients and ensures accurate documentation.
• Providing Insights and Validating Tasks: ChatGPT4 offers valuable insights into legislative requirements and mandatory data, essential for tasks like invoice and receipt creation. Additionally, it validates client tasks and specifications, raising pertinent questions for consideration and ensuring alignment with client expectations.

Both TLDV and ChatGPT4 are indispensable assets in our quest for efficiency and excellence in software development project management. The time efficiency they offer, saving up to 50% of time in some cases, is a game-changer. Moreover, they fill gaps in skills or knowledge, ensuring that we deliver the best possible results to our clients.

We strongly believe in the power of innovation, which is why we not only use AI for ourselves but also to the advantage of our clients.

Do you want to be a part of the team? Do not hesitate to contact us via the contact form or directly at natalie.tovarkova@cleevio.com