It has always been our constant endeavor to forge the company as a product company rather than a services one. This has been the core thought process of the team and we have also found this direction to be more suitable and productive for companies having lean team sizes.
Owing to the increased volatility in the market, purely service driven businesses are finding it increasingly difficult to generate margins having been sandwiched between increasing customer expectations (a.k.a - "the deep blue sea") and decreasing service rates (a.k.a. - "the devil").
Having said that, the same is true for product companies also, but there is still breathing space and there is still the chance of hitting onto something disruptive that will change the revenue equations drastically.
Our evolution as a team also traces the above line of thought, which we have represented in this chronological chart
(click to enlarge)