Interestingly, many startups today are led by founders or have a founding team that do not necessarily possess technical, coding or programming skills. Such founders rely heavily on engaging a Chief Technology Officer as a co-founder or look to hire external vendors to actualize their vision. CTOs and external vendors tend to have plenty of options and significant mobility and, therefore, not enough skin in the game.
There are two common reasons why most startups that have failed – they have either not achieved ‘product-market fit’ or have run out of cash while pivoting their business model - quite often both. Chief among the root causes stems from technology costs and quality/ availability of the right technology skills.
Achieving product-market fit requires that the underlying technology used for the product or service has to be nimble enough to be able to make adjustments and innovate on the product/ service until customers get attracted to it. Most often, the more the effort applied to make the underlying technology nimbler, the technology stack ends up becoming more complex. With every level of complexity added, it gets harder for the non-technical founder to achieve the vision of the founders.
To make the technology nimble enough requires a strong development team led by a CTO that needs to understand the purpose and vision of the non-technical founder. With technology getting more complex, acquiring such skills become harder and costly – often leading to the founder/s either burning more cash than budgeted on hiring good technical personnel or where cash for the startup is harder to replenish, settling for what they get for the cash they have. This often leads to the non-technical founder/s being forced to learn to code and move their focus away from the core business objectives.
No-code platforms allow a non-technical or any founder to convert their vision into reality without worrying about architecting or over reliance on the tech team. No-code platforms reduce the complexities in the technology stack for the startup as they can handle complex operations, ingest and process large datasets, build the user experience and engagement layer, and provide enterprise grade security – all while reducing the programming interface between the machine and the person.
Using no-code platforms, startups can quickly build/ innovate and make changes to their product/ service to achieve time-to-market in a few days/ weeks. For non-technical founders, no-code platforms provide a dual advantage – the reduce the hassle of managing technology complexities and reduce the reliance on outsourced skills. This reduces the startup’s cost burden with respect to hiring/ upskilling their technology talent pool and helps in re-purposing cash burn on product innovation and go-to-market activities.
Using no-code platforms, non-technical founders will no longer have the disadvantage of solely relying on selling ideas for funding their startups where now they can demonstrate their idea in the form of a tangible product/ service to increase investor attraction.
The author of this article is Mr. Rahul Murthi, Global Head, Acies Ventures
The views and opinions expressed are not of IIFL Securities, indiainfoline.com