Ilia Kiselevich for Forbes: Rescuing Startup App Projects On A Tight Budget

The full article was originally published at Forbes Technology Council

According to Gartner, less than 0.01% of all mobile apps become financially successful. Why?

"Apps are expensive. Apps are plentiful. Apps are often free."

—Startupgrind, article by Peter Daisyme.

The reasons for failure can be multifaceted. Insufficient financial resources may contribute to failure, but it can also stem from a cascade of other detrimental circumstances. Anyway, the number of one-third requests to our company for project rescue services is quite eloquent.

In such situations, many entrepreneurs become hostage to a situation where the assets have practically dried up but still require some steps to be taken. I propose to figure out what can be done on a tight budget during a storm for your tech startup.

Iron Triangle Issues

To refer to the problem of app projects being rescued with limited financial resources, we need to come back to the classic management basics––to the project triangle exactly. So, there are two types of interdependencies in it.

There are two types of relationships between scope, time and cost in a project. In the first type, scope, time and cost move in the same direction. Increasing the scope increases both time and cost. In the second type, there is an inverse relationship. If costs need to be reduced, more time is needed, and if there is a deadline constraint, an additional budget is required.

These two relationships can't be changed: No matter what you do, you can't alter one component without directly or inversely affecting the other two vertices of the triangle. That is why this conception is often referred to as the iron triangle of triple constraint, and many startup leaders don't give up trying to cheat this pattern.

3 Ways To Save In the Game

To act on a tight budget, as a fixed angle in this triple, to make that iron forge, we have to work either with time or with scope. As you're at the stage when the failure is extremely close, it's much more rational to manage the scope resource than a time one.

1. Return To The Toots

... Read the full article at Forbes Technology Council .