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Software as a Service (SaaS) is a new approach that is replacing traditional software license purchase. That is why the SaaS delivery model has gained a lot of popularity in the last decade.
You do not need to buy, install, and upgrade software these days. The time when organizations used to buy software deployed on compact disks is over. Some even call it software trash now. Cloud computing, driven digital transformation has changed the facet of software once and for all. This revolutionary model is called — SaaS, the new buzzword of the tech town.
Recommended for: software developers or anyone with a great software idea
How much can you earn: there are so many examples of software companies that started out from a basement and grew to be worth millions within just a few years; the potential is truly huge if you have a great idea and build a quality product but there are also a lot of things that can go wrong – not the least of which is actually the risk that comes with growing too fast!
Start-up costs: it’s very difficult to say as there are a lot of variables; however, to give you an idea, the typical costs are around $50,000+ for software development
Software development is an extremely lucrative industry – the right software platform can catapult you to huge success, helping you build businesses worth millions and even tens of millions of dollars.
Think of software like Hootsuite, Slack, Monday.com and so on – all of these companies have built huge brands on the back of their software.
If you’ve got a great idea for a software, it can be a great way to make money and build an actual business out of it as well. If you’re a developer – well, you’ll already have a head start. If not, you’ll have to find developers that turn your idea into a reality (which, in my experience, isn’t the easiest thing to do!); as for getting funding, there are multiple options available – check out my guide here to discover all these options and choose the right one for you.
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