Industry Insights with Experts

How Experts on Demand Can Help You Overcome Startup Challenges

Anurag Paul

14th Jun'24
How Experts on Demand Can Help You Overcome Startup Challenges | OpenGrowth

Entrepreneurship is an interesting and fulfilling experience, though it comes with a lot of obstacles when beginning a new business. Most of these startups do not manage to overcome these challenges and therefore fail. This is where experts on demand come in handy. It gives the much-needed professional help that startups require in their business. 

Now let’s consider how you can benefit from them and overcome some of the issues that may arise in a startup. This blog will provide insights into how the experts on-demand work, success stories on how they have helped organizations, and how to select an appropriate expert for a startup. Let's get started!

 

Identify and Address Common Startup Problems With Experts on Demand

Experts on demand assist in the determination of issues that may affect startups. These challenges include:

  • Lack of Experience: Most start-up founders do not have prior business experience. Experts on demand have knowledge that they share with their clients and customers because of their experience.
  • Limited Resources: It is also important to understand that startups are usually characterized by a lack of funds. Experts assist in the proper distribution of resources.
  • Market Understanding: Market knowledge is a must. Experts offer market information and customer information.
  • Scaling Issues: Growth is a challenge in any organization, especially in a startup company. Scaling is supported by these experts.
  • Financial Management: Finance is one of the most difficult aspects to manage in any organization especially when it is in the start-up phase. Experts provide consultancy services in the areas of finance and managing financial resources.
  • Technology and Innovation: One must always be on the lookout for new things that are coming up in technology. Experts assist with the use and application of technology in learning and teaching.

 

Benefits of Hiring Experts on Demand

Experts have many advantages. These are the benefits that make a huge difference when it comes to the success of a startup.

 

1. Access to Specialized Knowledge

Experts offer skills that are missing in the startup and may be difficult to acquire. It includes essential fields like marketing, finance, IT, and operations expertise. For example, a startup company might require assistance in developing a social media marketing plan to enhance its Internet presence. 

An expert with a background in digital marketing can design specific plans and activities to be implemented on social media, websites, and other online platforms. Start exploring how on-demand experts and fractional hiring can be a game-changer for your startup.

 

2. Cost-Effective Solutions

It is costly to hire full-time professionals, something many startups cannot afford to do. Hiring experts is a solution that is also cheaper than hiring a full-time employee. Startups only hire consultants for the specific, often limited, areas of consulting that they require, whether it be for a few hours of consulting or a short project. It also guarantees quality advice without a long-term obligation in terms of salaries and other benefits that accompany full-time employees. 

For instance, a startup that requires legal services can hire a lawyer every time they are required without necessarily having a team of lawyers on board. This is a cheaper model that helps startups manage their scarce resources, and direct their resources to other areas of need in the business. This is why fractional hiring and fractional COOs are gaining popularity.

 

3. Flexible Support

Experts on-demand provide services that are most suitable to the needs of a startup in a dynamic environment. These professionals can be available once in a while to give advice or be regular advisors depending on the needs of the startup. This flexibility is important for startups in that they may be experiencing turbulence or encounter certain events that they did not expect. 

Such flexibility guarantees that startups get the right kind of assistance at the right time, as early entrepreneurial processes are highly unpredictable. This is how fractional hiring can transform startups into powerhouses.

 

4. Network Expansion 

Experts on demand bring with them networks that are quite beneficial for any startup company. They can introduce the startups to potential partners, investors, and customers that they would not otherwise be able to access. For example, a start-up firm planning to enter a certain industry may find it useful to be introduced to some players in that industry or potential customers. 

An expert on-demand with good connections can introduce these people to the startup thus creating the much-needed credibility. This expansion of the network can bring about new opportunities, partnerships, and funding sources, greatly enhancing the growth of the startup, and subsequently its likelihood of success in the future.

 

Real-World Examples of Success 

Experts on-demand are used by many startups to help them grow. Here are some real-world examples: 

 

 

 

1. Slack 

The collaboration software called Slack also had its issues when it was still new. They required UX design experts to enhance the usability of their platform. The expert on-demand brought in by Slack to redesign the interface was an expert in UX design, thus achieving an intuitive and appealing design. 

The input of this expert was critical in improving the user experience and thus fast growth of this platform. Today, Slack is one of the most popular applications that millions of teams around the world use. 

 

2. Airbnb 

Airbnb, an online marketplace for accommodations, faced challenges with growth and the management of financial issues at the start of its development. They hired an expert who had expertise in both financial management and operations scaling. 

This expert assisted Airbnb in streamlining its financial processes, increasing the efficiency of resource usage, and defining the strategies for the company’s fast growth. The help of the expert was crucial for the growth of Airbnb from a small company to one of the leaders in the sphere of tourism. 

 

3. Dropbox 

When Dropbox, the cloud storage company, was just beginning, it required assistance with marketing and how to get customers. They called in an expert who has experience in digital marketing and growth hacking. 

This expert came up with a referral program that encouraged the users to bring in even more people to the platform, thus growing the platform exponentially. It turned into one of the best-known marketing campaigns in the history of technology and increased the number of users and the company’s presence in the market dramatically. 

 

4. Warby Parker 

The case of Warby Parker, an eyewear-selling firm, has some issues regarding the brand’s positioning and client attraction. They contracted an Expert on demand in branding and marketing. The expert assisted them in creating a brand that distinguished them from their competitors and established themselves on the internet. 

Also, the expert brought new ideas for marketing, including the home try-on program in which customers can try glasses at home and then buy them. It also improved the customer experience while at the same time increasing sales and making Warby Parker a force to reckon with in the eyewear industry. 

 

5. Pinterest 

Image-sharing and social media service, Pinterest, required professionals in user acquisition and platform development. They employed an expert who knew about social media and users’ engagement techniques. The expert assisted Pinterest to design attributes that made users engage more time on the platform and share content. This expert played a major role in enhancing the interaction with the users and expanding the circle of users, making Pinterest one of the most popular social networks in the world.

 

How to Choose the Right Expert on Demand

Selecting the right expert is important. Here are some tips to help you choose the right expert:

 

1. Define Your Needs

Determine the precise aspects of the project for which you require assistance. This will assist you in identifying the right expert with adequate skills and experience.

 

2. Check Credentials

Verify the qualifications of possible specialists. Make sure that the expert has a good record of accomplishment.

 

3. Ask for References

Request for contacts of people who have been served before. Call these references to find out how they were assisted by the expert. 

 

4. Consider Compatibility

Think about whether the expert is suitable for you. The key to any partnership is to ensure that there is proper communication and that the two parties have to work together and can work well together.

 

Master Startup Challenges with OpenGrowth’s Experts on-demand

Startups face the following challenges that experts on-demand address by offering the needed advice and support. They provide expertise, affordable services, customized services, and access to other professionals.

With OpenGrowth, you can easily hire C-suite experts. Our fractional executives and on-demand experts know how to address strategic issues in a business. If you require help with marketing, finance, technology, or operations, OpenGrowth helps you find the right professional for your requirements. Build your startup with the help of OpenGrowth and unleash the best of it! Call us today and start eradicating your problems with the necessary professional help. 

Anurag has been writing content for over eight years, and he is dedicated to it and cannot see himself in any other industry. As a passionate writer, he is interested in business and entrepreneurship. An accomplished technologist and financial expert, he strives to empower others through entrepreneurship, leaving his comfort zone to explore entrepreneurship. Having worked in the Financial sector for more than five years as a full-timer, he also has a keen interest in Corporate Finance ...

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