Experiencet The fruitful inception of business with BOMT
The purpose of a business model is to launch a business. That includes investment aiming at revenue that is enough sustain the business, if not grow it further.
Launching a business and sustaining it is never easy. And there is always risk of incurring losses. Risks that Startup businesses are prone to are as follows:
Problems of budding business
1. Limited sources:
Sometimes, businesses have limited resources for production, distribution and market research. Startup or even established businesses can need a helping hand in market research.
2. Competition from established players in business:
No business monopolizes the market. Startup businesses can face competition from established businesses. Proper strategy is needed for surviving competition. After a business is ready, it has to enter the market, survive competition and earn the revenue necessary for both sustainments as well as for expansion.
3. “One-Man Army” Complex:
Many times, business owners believe that they can do everything on their own. They feel that cost-cutting will help business. This maybe right but doing every task yourself will leave you with no time to plan anything. This is neither good for the growth of business, nor for its expansion.
4. Poor marketing:
A business needs to market its product or service in order to make it stand out among products (or services) of other businesses. A market strategy is needed at a professional level.
All of the four problems listed above can be solved by a unique business model that not only launches the business, but also helps it to enter a market and emerge as a key player in the market. To ensure perfect baby steps for a Startup business, BOMT comes into play.
What is BOMT?
BOMT is a four-staged business model that is helps Startup businesses to rise from conceived idea to a real company with a profit generating Return On Investment (ROI).
The four stages of BOMT which we at Leo TechnoSoft help users implement are as follows:
BUILD: Implementation and development taking Hybrid and offshore development benefits.
OPERATE: Tech Support and Dev ops to automate your operation and IT Infra Mgmt.
MARKET: Establishing your Sales Channels Globally using our 120 Channels Partners across world. In short, stage is set for your entry into market and face competition while selling your product or service.
TRANSFORM: Connecting to Funding networking with our established relationship with VC and Angels.
Advantages of BOMT model include low organizational costs, more time for core business and low labour cost & infrastructure cost.
Benefits of BOMT include like process expertise, knowledge preservation, team supervision and technical support. Ownership of superior product, talented expertise, risk diminution, low operational costs and procedural expertise are also key aspects of this model.
Startup business takes off on a limited budget. Hence, BOMT model helps Startups to enter the market with a Minimum Viability Product (MVP) that includes the essential features required for a successful initial launch.
BOMT(Build, Operate, Market, and Transform) model, It is an innovative hybrid partner product development that offers a low-risk, hassle-free, cost-effective global sourcing strategy. BOMT works exceptionally well with StartUps, Entrepreneurs and ISVs. It ensures incubation, development, Gestation and transformation support to increase revenue and maximize ROI in short span of time.
Leo TechnoSoft is Outsourced Software Product Development Company with innovation centers in LA, Chicago and India. The Company expertise covers BI, SaaS based applications, Cloud Computing, Migration, Integration, Cross Platform, Testing, Mobility, Big Data, Product Development, SharePoint, SaaS Tenant and IoT Integrations.
To know more about Leo TechnoSoft, contact us at email@example.com or call us at 407-965-5509.