Startup owners are usually concerned about the cost of developing solutions from scratch. When you are about to launch a new business, you have to consider many aspects, such as capital, funding, marketing strategies, digital campaign, etc.
As a business owner with so many problems, your first instinct may be to develop solutions from scratch. After all, you are a business owner. Building customized solutions from scratch in an attempt to fulfill the user’s expectations might fail if you have ignored important aspects.
Building your own solution can lead you to:
- Reinvent the wheel, a time-consuming and costly affair
- You may miss the market opportunity
- Spend too much money developing tools that users already using
- Ignore other core objectives that need focused solutions
The above loopholes can be easily mitigated if you adopt white label solutions. Putting your brand name on a product that someone else invented can be beneficial in many ways. If you are a startup and looking for cost-effective solutions, white labeling solutions offer you many advantages in terms of cost, marketing, and other perks.
If you are still not sure about white labeling solutions and its benefits, consider the below-mentioned reasons.
This is one of the advantages of opting for white labeling solutions. Usually, white-label solutions come with modern features and integrations, which makes branding very easy. As a reseller, you don’t need to think about research and development; eventually, it saves cost and time. All you need to add your branding identity and get started.
Moreover, white label products come with modern features so you can directly automate your a business transaction, and for that, you don’t need technical knowledge. You will get ready-made solutions from the vendor; all you need to apply your brand name and logo so that your clients identify it easily.
On the other hand, if you develop solutions from scratch, you have to invest huge money and time in branding, but white label products make it easy and allow startup owners to grab user attention in initial days.
Costing comes first whenever thinking of developing any solutions from scratch. If you are facing budget constraints and funding issues, adopting white labeling solutions can be a wise decision. Remember that customized development is a time-intensive process that includes design, development, testing, and whatnot.
You might have no resources to work on such solutions. This leads to missing the market opportunity and bearing a huge loss. But white labeling helps you deliver affordable solutions and take your startup to another level.
Instead of hiring a team of developers and explaining your project requirements to everyone, white labeling requires a small investment of time and money. Unlike trying to experiment with everything your own, investing in readymade products will be more cost-effective and give you promising returns.
When you are setting up a new business, you don’t have any clue whether people will like your idea or not. It’s all about risk. As an entrepreneur, you have to identify that risk and take steps accordingly.
Moreover, if you don’t have any expertise in a specific domain, you will fail in the first attempt. Then you have to invest more time and effort to rebuild it. As a result, you may miss the opportunity and end up with a huge loss. Overall this process is risky and costly.
Besides, in the case of white labeling, you only need to pay for their expertise and enjoy the outcomes. For instance, if you want to automate your food business and embrace digital solutions, you can opt for ready-made solutions that save time and energy. In addition, these solutions have already gone through the testing process, so you will get a bug-free product within a short period of time.
As a startup owner, there are already many tasks on the desk. You equally have to pay attention to all of them. Less time and money spent on the development process enable you to focus on other important tasks such as marketing, customer service, after-sales services, etc.
White label solutions help you achieve goals more effectively as you don’t need to waste time on research, development, and other activities. Readymade solutions provide an opportunity to trust the experts in the specific domain and prevent you from making the same mistake that others have made.
As a result, you can put your energy and time into focusing on your sales funnel or other core objectives.
Constant advancement in technology impacted consumer’s choices. Earlier, customers used to pay bills using their credit cards and debit cards, but now they have multiple payment options such as mobile banking, eWallets, and other options. Similarly, if you are a startup, you need to update your product based on consumer’s expectations.
It is quite a time-consuming and challenging process to update products regularly if you go with custom solutions. By opting for white label solutions, you don’t need to worry about updates and other product-related changes as it comes with enticing features and keeps evolving based on market trends.
Your product will remain up-to-date with the latest technology changes. As a result, your customers will also stay satisfied and stick to your brand.
In short, white label solutions can help startup owners to utilize their resources effectively. It saves cost time and offers a unique branding experience without investing in technology creation. These days, customers spend long hours on their devices, so investing in digital solutions is becoming important.
White label solutions keep your product and services up-to-date and add value to your business. It is extremely helpful for startups and SMEs because they can thrive without investing huge capital within a short time.
Using your unique branding to offer your products using white label solutions is the best way to maximize your ROI while reducing your spending. In summary, for startups, investing in white label services is the best option when it comes to hitting the market in the early stage.
Author bio: Deep Moteria
Deep is an aspiring entrepreneur and Co-founder of Elluminati Inc. Deep having led 75+ startups on the right path with their information-admiring entrepreneurial skill and guidelines. Along with that, he loves to craft content on topics including on-demand economy, entrepreneurship, technology trends, and many more.