Sunday, April 11, 2010

How to Start Your Own Software Business

Knowing how to start your own software business can fast track you to success. The best way to get started in software is the opposite of starting most businesses. It is best to create your product first and then build a business around it. If you do not have a piece of software that is wanted or needed by the market, then you really have no business.

CREATE SOFTWARE - Create software that is needed and wanted in the industry. This is the tricky part. You can either develop new software that is revolutionary which of course can be very difficult to come up with an idea and then create it or you can take an existing software and make it better, faster and stronger than its competition. In the software industry it is imperative that you make a product that makes peoples lives better or run faster. If you do not have a software product that is needed or wanted in the industry, preferably both, then you really do not have a viable business that can make money. Create the software and they will come.

DO YOUR FOOTWORK - Take the time in between working on your hot new software product to do the traditional steps of creating your own company. You will need to have a name for your company and a professional look so that when you do find someone that really wants or needs your software, you will be able to greet them properly. Contact an account or tax professional to help you decide what is the best way to start up your software company. You will need to decide on a sole proprietorship, corporation or limited liability company. Next you will need to file a fictitious business name statement, open a business banking account and order a business phone. Depending on your individual situation, you may or may not want to spend the money on business cards and brochures at this point.

PROMOTE YOUR PRODUCT - Get the word out that you have created a software product that is needed or wanted in the industry. Although you may want to keep the actually software well hidden because you do not want anyone to steal your ideas, you do want to promote the general work that the software will provide for the end users.

Now you know how to start your own software company.

No comments:

Post a Comment