How To Start A Software As A Service (SaaS) Business

The biggest key to success in any company or business is to solve a problem. As they say, necessity is the mother of invention. If you can know a problem that a certain segment of a market is having and also have figured out a unique way to solve the problem then you are halfway to success.

This is why starting a SaaS business is one of the best ways to make a lot of money and potentially very quickly at that. People need their problems to be solved in an easy way and will gladly pay money. If you create software that does this for them then you can even be making money in your sleep.

In this article, I will give you a basic outline of how you can start your own software as a service company.

Develop a solution

Before you do anything you have to figure out if you actually have a solution to an actual problem. The one thing many software developers run into is that they are looking for solutions that don’t actually have a problem.

The best way to figure this out is to draw on your own experience. Surely, at some point in your working life you saw a problem that didn’t have an obvious or easy solution. Let’s say you were a bartender at one point in your life and inventory control was an issue. You may have an idea for a software solution to that problem.

It can be just about anything at all from a hobby to a problem you had while studying in college. Whatever your life experience is will be an obvious place to start looking.

Write a business plan

A business plan is not just for a bank to give you a loan or to show potential investors to finance your project. It is also a roadmap for you and your employees to follow to make sure you are taking the right steps to make the idea a reality.

Unlike a traditional business plan, a SaaS company will use a lean plan that relies on you creating and testing new ideas all the time. It is a lot less rigid than a traditional business plan.

Find the right developers

The best part about starting a SaaS business is that you don’t even need to be a programmer. If you have the right idea and vision, then you can hire a group of programmers to create the product for you. Under your supervision, they can come to you with their ideas and then test them to see how they work.

First, have a consultant work with you to let you know what type of coding languages are going to be needed so you can then hunt down the team that works best with those languages. Hopefully, they also have experience working on similar types of software so the process will go smoothly.

Once you have a prototype, then you can send it out to be tested before it gets rolled out to the masses.