How to Start Your Own Software Company Insights from Roberto Boligan

Do you have a burning desire to become a CEO and a killer idea for a software company? Indeed, it seems like you have. Roberto Boligan points out that is an idea, even the most brilliant one, sufficient for success? This question gives birth to a number of other questions. Do you have any chances to make it without huge capital and experience? Does this mean I have to work as a software developer? What should I do first? Read our blog and learn how to start a software development company on your own.

1. Understand the Market

Before you start your software company, it’s important to know about the market you’re getting into. Roberto Boligan explains it in three stages:

Introduction Stage: At this stage, there might not be any software like yours on the market yet. This means people might either really want it or not want it at all. For example, when Airbnb and Uber started, they came up with new ideas that people needed during times of hardship.
Maturity Stage: In this stage, other companies already have similar software, but there’s still some space for new ideas. You can focus on specific groups of people who might need your software more. This is what Kaltura did, and it worked well for them.
Decline Stage: At this point, the market is already full of similar software. It’s harder for new companies to succeed because people are already happy with what they have. Rdio struggled against Spotify because the market was already saturated.

2. Choose Your Sales Strategy

Deciding how you’ll sell your software is a big deal. Here are your options:

Direct Sales: This means you sell your software directly to companies or small businesses. You can sell licenses or subscriptions for your software. Selling fewer licenses to big companies can be just as good as selling lots of them to smaller businesses.
Website Sales: With this method, people can download your software from your website. You might offer a free trial so they can try it out first. You can make money from support and updates.

3. Running Your Business

When it comes to actually running your software business, you have a few choices:

Tech-Savvy Partner: Having someone who knows a lot about coding can be helpful. They can check your software’s code and make sure it’s good. You might have to give them some ownership of the company in return.
Software as a Service (SaaS): You can use a service from another company instead of making your own software. But you’ll have less control over how it’s made. You’ll need to spend time and money talking to the company to make sure they make the software how you want it.

4. Startup Essentials

Now, let’s talk about what you need to do to get your startup off the ground:

Protect Your Ideas: You need to make sure no one steals your ideas. Get patents and trademarks, and make anyone you work with sign an agreement saying they won’t tell anyone else about your ideas.
Business Plan: Write down everything about your business: what it does, who it’s for, who your competitors are, how much money you need, and when you’ll be ready to start selling your software. Having a good plan is really important!
Legal Stuff: Figure out what kind of business you want to be, so you know how much tax you need to pay. And make sure you have insurance in case something goes wrong with your software.
Hiring Developers: You’ll need people to help you make your software. You can hire them yourself, or you can hire another company to do it for you. Just make sure you keep control of your software!
Testing: Before you start selling your software, you need to make sure it works properly. You can test it yourself, or you can hire someone else to do it for you.
Create a Prototype: Make a basic version of your software so people can try it out. This will help you see if people like it before you spend a lot of time and money making the full version.

5. Funding

Now that you’ve got everything ready, you’ll probably need some money to get started. Here’s how you can get it:

Venture Capital: This is when big companies give you money to help you get started. They’ll give you the money in exchange for part of your company.
Grants and Loans: You might be able to get money from the government or a bank to help you get started. You’ll have to pay it back eventually, but it can help you get started.
Online Funding: There are websites where you can ask people to give you money to help you get started. Some people might give you money just because they like your idea!

Last Words of Advice

To wrap up, starting a software company is both thrilling and challenging. Just remember, every big success story began with a small idea and a lot of determination. Roberto Boligan concluded by saying to stay positive and persistent and to never be afraid to ask for help or advice from others. Whether it’s online forums, mentorship programs, or helpful books, there are plenty of resources out there to help you along the way. Trust in yourself, learn from any bumps in the road, and never give up on your dreams.