Could you describe your occupation?
I am a serial entrepreneur who currently co-owns three businesses, with a primary focus on a US based company www.roonyx.tech that specializes in custom web and blockchain development – Roonyx.
What motivated you to establish a business concentrated on outsourcing development?
As an entrepreneur, I am constantly seeking novel opportunities. Staying devoted to a solitary product can be demanding. Outsourcing development, in contrast to creating a product, affords a broader perspective on the world.
Consulting and outsourcing entail working with diverse businesses across various industries, sizes, cultures, and geographic markets. It is akin to a global expedition where one can gain insight into businesses and their ways of thinking from all corners of the world. It is an incredibly captivating experience.
How does your business differ from others, and what inspired you to start it?
While investing in one of my previous businesses, I was asked for advice on choosing a contractor for digital transformation. Drawing on my experience creating successful technology businesses, I helped select potential partners.
It quickly became clear that my colleagues weren’t just looking for contractors, but for strategic partners who could help develop their ideas and products. However, many companies demanded a clear technical specification before beginning development, which created a significant gap between clients and contractors.
Clients often had only an idea without the knowledge to implement it or assess potential risks, while contractors didn’t want to deal with unclear or ill-defined ideas. Seeing this disconnect, I founded my business to help close the gap.
Our service provides support to startup founders and business owners who know how to generate revenue but may lack expertise in building successful technological products.
We help clients understand and design the technology products they need to take their businesses to the next level
What was the most difficult challenge you encountered?
As I started building this service, my team was specialized in a narrow niche. We had been working with them on a product for several years, and their knowledge was limited to that product and niche.
When we began receiving different projects, we realized that we lacked knowledge about what was happening outside of our expertise. We had to rapidly learn about the intricacies of implementing technologies in industries that were new to us.
We had to become adept at quickly transitioning between vastly different projects. However, over time, we discovered a remarkable effect. Our brains are wired to transfer ideas and solutions from one industry to another.
Although it is not always apparent at first glance, a solution from a vivid and emotional fashion industry that challenges stereotypes can be applied to a conservative and regulated fintech sphere. Our brains can synthesize solutions based on experiences from various industries, thereby creating groundbreaking innovations for our clients.
Eventually, we learned how to manage this process, and the most significant challenge became our most significant insight.
It appears that you are juggling multiple projects simultaneously. How do you manage this?
This is a pertinent question as we often handle numerous projects that differ in size and nature. It’s crucial to acknowledge that there are distinct phases of ideation, creativity, and design, followed by the implementation and execution of those ideas.
To ensure a streamlined process, I devised a software development system that is highly automated and systematic. It involved testing multiple solutions, integrating them, and even building an in-house platform that tracks critical metrics and quality standards.
The platform collects data on completed tasks, time taken, comments, implementation glitches, and uses AI to furnish not only reports but also forecasts on how well the project is progressing.
Having worked with diverse businesses, both my own and others’, I’ve realized that systemization often prevails over talent. Therefore, I design projects in a way that doesn’t impede talent with process chaos.
What factors should be taken into account during a rapid business expansion?
When a company grows at a rate of 2-3 times per year, as is currently the case with my business Roonyx, processes and management structures need to be rebuilt and reimagined annually, sometimes even twice a year.
This requires redoing extensive documentation, retraining employees, and ensuring that the new system is functioning efficiently. This process can take months, and as the company grows larger, changes become slower and more challenging to implement.
Just when everything has been reconfigured, and everyone has adapted to the new processes, the company experiences another growth spurt, requiring a complete overhaul once again. Outsourcing is an advantageous solution in this respect.
You can delegate this issue to a contractor and focus on further business expansion.
In conclusion, what advice would you offer to aspiring entrepreneurs?
Dream big.
Everything you see around you was once someone’s dream, and dreaming is the first step towards success.
Take action.
Be decisive and take the first step towards your goals. Every action you take brings you closer to success.
Love what you do.
Passion is key to success. When you love what you do, it comes from your heart and soul, and you will enjoy the results. Don’t be afraid to make mistakes; they only make you stronger. Believe in yourself and your abilities, and success will follow!
