As 20th Century was known for Industrialization Era, this 21st Century is going to be known for Information Technology. Human Kind has reached its peak in connecting world through IT, simplifying our lives through IoT solutions and doing a lot other wonders through Artificial Intelligence and much more. Hence, this Industry is going to be most in demand, its professionals would be the highest paid.
Being a new industry compared to others, there is still enough space for new companies to penetrate in the market.
If we focus specifically to software house, it is easy to start as it does not require a hefty amount of investment. At first, you must understand this is only field where you can start with a laptop, a little money to bear your own expenses for some time and lots of hard work which is required to start any business. It is not necessary that you are a software or computer engineer yourself to start off. If you have zero knowledge about coding or developing software but have an intention & passion to start your own business, you can definitely start a software company having good knowledge and determination. Being a software developer yourself, it definitely gives you an edge to initiate.
Market Research
First of all, do a little research about software industry in Pakistan. What sort of software companies are there? Which software are most in demand? Which type of software is easily sold in local market/Global market? There are basically two types of Software Houses.
Project Based
When we say project based, it refers to customers sharing their business operations, their different way of working, their departments, in short, complete flow of their business with you. And you offer them a customize software solution, developing it from scratch, exactly fitting to their requirements. This type of software development takes time and it’s a long term job that’s why known as Project based.
The positive side is companies pay handsome amount for custom made software. But the other alarming aspect is that once it is completed, you have to find another company, another project. Normally such custom software are developed in 6 months to 1 year.
Product Based
Other type of software companies are product based. Let’s say you are a software developer, you develop a software for bakery and you sell it to number of bakeries in Karachi, Pakistan or globally. You are actually selling a product that is a ready-made software solution. The positive side of running a product based software is that when a large number of companies are using your software, you get a handsome revenue in form of support or license charges without any much effort. Only worry in this approach is being the best product (software) in the specific industry and also getting more & more clients gradually which isn’t that difficult once a mature software is developed.
Sales & Marketing
Well to start off, either product or project based software house, you have to get clients. You have to do marketing, approach customers, tell them about your services, product and use multiple channels for it like Calling, Outdoor visits or personal network. Freelance websites are also a good way to get work. This way you can also get better payments due to currency exchange, low cost of labor in Pakistan and high demand of software services in USA, Canada, Europe and other Middle East countries.
Office Space
Although you don’t need an office right at the beginning, you can also start from your own room. You can search projects or share your product / portfolio online from your laptop. You don’t have to sit in an office space necessarily. But anyhow, assuming you got a big project and have to hire a team. Then you must a proper office. Incubation Centers are best option available today fulfilling all your needs to start a software development company. Their rents are way cheaper than any commercial building in a good area in Karachi or any other major city of Pakistan. Moreover, internet facility, electricity and other utilities are available there.
Other option is shared office space. There are lots of shared offices available in Karachi charging per seat or per room. Meeting area, reception and other such amenities are also provided.
Quality & Support
After getting customers, having an office, team, the next important thing is to provide a good quality of software and support & maintenance for your software users. This is the key for your height of success in the beginning. If you provide good support and quality of software to companies, they will be referring you to others and therefore, you will have a good name in the industry.
Conclusion
You must get good knowledge about software development and market requirements. Consult with other software house owners or developers to have information about industry trends. Search your target market, approach them and pitch your software product / software development service in the best way possible. Satisfy your clients to the fullest and the game is on!