What is a SaaS Startup? Demonizing Software as a Service
Hey there, aspiring tech innovators! Have you ever envisioned creating your groundbreaking software, SaaS, or mobile app? But then that nagging voice in your head whispers, “Hold on! You can’t code. Do you even tech, bro?”
Well, rejoice! Today, I’m unveiling a secret formula: launching your OWN profitable software or app in just 90 days… And guess what? Even if coding sounds like Greek to you, or you’re uncertain about the ‘what’ and the ‘how’. And there’s a special bonus at the end you won’t want to miss.
Why Software?
Before diving into the step-by-step framework… why bother with software in the first place?
A quick Google search some years back revealed something interesting: a significant number of the wealthiest individuals accrued their fortunes through technology and software!
Your beloved pop stars, musicians, coaches, actors? They’re venturing into the tech arena too. Tony Robbins, Tom Hanks, Kim Kardashian, Jay-Z, Beyoncé, Rihanna, Snoop Dogg, and many more. All of them are diversifying their portfolios and making bank with their software ventures.
So, why is software so appealing? Let’s break it down:
- Low entry costs.
- Sweet, sweet recurring revenue.
- Infinite scalability. The sky’s the limit!
- No maxing out. More users? Bring ’em on!
- Plus, those enticing high margins.
My Story
Now, a bit of storytelling. Picture this: Young Vitaliy, overflowing with software ideas, a budget-conscious student with plenty of time. Two years into self-teaching Python engineering. Fast-forward: 8 software ventures. All crashed and burned. Ouch!
But every dark cloud has its silver lining! 2011 was the year SoftFormance was born. We didn’t just build a product — we built a movement! Leveraging our in-house talents, our first software product was birthed with just $30,000, later raking in over $15k monthly. And we didn’t stop there.
Why isn’t Everybody Doing Software?
So, the million-dollar question: If launching software is like striking gold, why isn’t everyone mining?
Misconceptions! Some believe they need:
- Elite coding skills.
- A groundbreaking idea.
- Millions in the bank.
- Or a coding guru for a co-founder.
But, here’s the truth bomb: with the right framework and guidance — success isn’t a dream, it’s a reality. I’ve seen our clients not just beat the odds 5% of the time, but almost 50%! That’s every second client!
Intrigued? Buckle up because we’re just getting started!
3 Secrets to My Method of Launching Software
My method has 3 secrets. Follow them accurately, and you will triple your success ratio.
Secret 1: Idea Hunting
Alright, without further ado, let’s jump straight into Secret #1: Idea Hunting. Ever wondered how to come up with a top-notch software idea without being the next Elon Musk?
Here’s the deal: The best software solutions address super painful problems within a very specific niche. And spotting these problems? It’s easier than you might think.
I’ve got an entire video on how to generate and validate these software ideas, but let’s keep it short and sweet here.
- Serve your audience where you shine.
- Engage with at least 20-30 individuals to pinpoint issues.
- Focus on “Iteration Ideas” and steer clear from “Innovative Ideas”.
Now, what’s an Iteration Idea? It’s simple! These are ideas that carry less risk, they’re budget-friendly, quick to develop, and honestly, they can greatly simplify your marketing efforts.
On the flip side, Innovative Ideas? Think of them as introducing a brand-new category in the market. It’s all about training people into new habits. Take IQOS electronic cigarettes, for example. Brand new, right? But such ideas, while cool, are typically suited for major brands with deep pockets.
For us? We’re sticking to Iteration Ideas. Simple, effective, and most importantly, doable! Stay tuned for more tips!
Secret 2: Funding Fix
Let’s talk funding. Once you have that brilliant idea, how do you get the cash to make it a reality?
In essence, there are three pathways to consider.
- First up, VC or Venture Capital. While it sounds fancy and promises big bucks, it’s not for everyone. It’s tough to get, especially without a track record or some traction with your product.
- Next, there’s preselling. It’s a challenge but doable. The idea is to pre-sell to a handful of users, maybe at a premium price, say 1-3K a month. This doesn’t just get you funding, but also validates that your product is in demand. Plus, think about it: you’re proving your sales mojo in the process.
- Lastly, and my personal favorite, is re-investing. If you’re already running a business and can funnel some of that profit into your software venture, it’s a win-win. It’s not just about the freedom of budget, but the liberty to focus solely on your product and users, rather than chasing funds.
Choose what resonates with you. The important part? To get started and bring that dream software of yours to life!
Secret 3: Development Hacks
Alright, diving into Secret #3: Development Hacks. Building software is just like constructing a house. Instead of tackling everything solo, you’d bring in a professional.
Some mistakenly believe a single developer can manage the entire project. But often, they find themselves with unfinished or unsatisfactory results. Some even turn to hiring a CTO, but remember, a CTO can’t handle every facet like design, coding, and the various setup tasks.
Hiring an in-house team is an option, but it can be a pricey one and not always the best choice. A more efficient route? Partnering with an agency. Consider one like SoftFormance, for instance.
When selecting an agency, focus on two crucial elements: trust and confidence. You want to be certain they’ll act in your best interest and have the capabilities to execute your vision.
To establish trust, request client references from the agency. Gauge your confidence by examining their portfolio. The more their past work aligns with your vision, the better.
In essence, by opting for a top-tier dev agency, you’ll benefit from a quicker launch, cost efficiency, and a smoother process overall.
Summarize
To wrap it all up, let’s recap the essential steps of the 90-day framework for launching your software:
- Secret One: Begin with the right idea. This will be your cornerstone for both validating your software and sharpening your sales aptitude.
- Secret Two: Determine your funding method. How you choose to gather the necessary capital for your software development is pivotal.
- Secret Three: Engage with a general contractor – a software development agency. They’ll be instrumental in helping you bring your product to life.
If you’re an entrepreneur eager to launch software, SaaS product, or mobile app and want my guidance,feel free to submit an application via the link provided. We’ll touch base with you in a day.
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As promised, I’ve got a bonus for you. Check the comments below for a link to my list of 500 trending and profitable software ideas. It’s a great resource to inspire and shape your own concepts. And the best part? It’s free. Just follow the link. And remember, people need your software…