It's no longer news that the most lucrative career path in this decade is software-based. Coding, cloud computing, software development, and other computer-related businesses are gold mines. This decade, a relatively new career path became popular and millions of people around the world want a slice.
SAAS is an acronym for “software as a service”. It is a part of cloud computing that involves the licensing of software on a subscription or sales basis. The software is typically centrally hosted and subscribers have access to the service as long as their subscription is running. You can also sell the software and collect a one-time payment for it. The best part about this branch of technology is that individuals can offer these services just like big companies. Keep reading to find out how. These are five steps to start selling SAAS:
1. Come up With a Creative Service
Breaking into the SAAS field as a worker under an already established company is one thing, but starting your sales is a completely different ball game. You need to make sure that the service you provide is an attractive one. Take Google for example. When people hear the term search engine, the first thing that comes to mind is Google. However, there are over 140 search engines and directories across the globe. Google has been able to dominate the global market by creating an ideal company profile and excellent services. Now, billions of people around the world depend on Google's various services and millions of businesses depend on them too.
2. Know Your Competitors
If your creative idea has never been attempted by anyone, you might not need to worry too much about studying the competition to gain an edge. However, you still need to do due diligence to ensure that no one else has started offering the software you're planning to offer with the same name, design, or technology. While businesses are allowed to compete, bluntly copying another company might leave you with lawsuits that will bankrupt your startup even before you get a chance to enjoy your profits. Studying your competition will also help you learn the latest trends in the software world. You'll be able to provide a service that is in demand, not one that is becoming obsolete.
3. Start Building a Network
So you've got a solid idea and you've checked out the competition; the next way forward is to start building a solid network. Many SAAS products fail not because they weren't efficient but because not enough people heard about them. With the right network, you can spread the word about your product even before it is launched. However, be careful about who you tell your software ideas. It's a cold world out there and many web developers would be willing to steal your idea and patent it before you've got the chance to launch. Some reliable places to meet SAAS founders are SAAS Mantra and SaaStr Annual.
4. Check All Legal Boxes
As stated above, it's a cold world out there and there is always another company or individual plotting to take over your idea right after you fall. This is why everything you do should be by the books. First things first, patent the technology and your product name. Meet with a legal team in the SAAS industry for information about protecting your product and checking all the legal boxes for software owners. If you are working with venture capital, don't sign any document until you have shown it to your lawyer. Make sure that no loophole will cost you your company in the long run.
5. Market Aggressively
Don't wait until after your product has gone live to start marketing. Involve a trusted marketing agency in the process as early as possible. No, it's not something that you can do by yourself just in case you were wondering. The best marketing agencies typically launch solid digital marketing campaigns but they also explore some traditional marketing avenues. It might cost a lot of money but it is usually worth it.
As a final tip for breaking into the SAAS market in 2021, make sure that your service adds value. It doesn't matter if you invest billions of dollars into a SAAS product; if it doesn't add value to the life and businesses of users, it will burn brightly and burn out before you get returns. Like with every other business, there is always a risk that you may not succeed. With a solid plan and execution, you will mitigate that risk significantly.