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How to launch your new software business?

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To launch your software business you need 4 things

  • A solution to a problem
  • A Prototype to present the solution
  • A user base to test the solution on
  • A Revenue model

Find a problem

The first and the most important thing is to find a real problem to solve and draft a rough solution for it. Once you have an idea document it on paper as detailed as possible.

Figure out how to solve it

Conduct Competition and Market Research to identify your competitors, target audience, user persona, user needs and preferences. This will also give you an insight on how well different solutions are performing and pricing.

Build a software

Get the MVP design and developed or get a Concept app design prototype to present it to users, investors and developers. You can now share your designs with someone to get feedback on your plan.

User Testing

Call friends, family, neighbours or anyone you feel is a potential user and show your product to them. Get their feedback and understand what they say and how they are using it. While testing, give them a specific tasks to perform and see if they are able to complete the task in an efficient way.

Revenue model

Cash flow is important so that you can use the money to hire resources and scale your services. There are various pricing strategies, to name some of them :

  1. Flat rate pricing
  2. Usage based pricing
  3. Per user pricing
  4. Freemium

Choose the best pricing model for your business. Understand how your user prefer paying for your services and how are they willing to pay for the problem you are solving for them.

Launch

Get a landing page designed for your software that explains the features and benefits to your target users. Get traffic by running ads, SEO or email marketing to pitch your solution to viewers.

Conclusion

In conclusion, the software is made to solve problems and make peoples’ lives easier. Try to provide value to the user so they can consider investing their time and money in your software. Derive a revenue strategy that is comfortable for users to consider. Keep optimising and studying how users are using your product.

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