How to Develop a SAAS (Software as a Service)

 
 
How to Develop a SAAS (Software as a Service)
 
 
 

It’s all about technology!

 

That’s where the customers, businesses, and investors are all flocking. If you’re ready to start a SAAS (software as a service) company, you’re in great shape! Here are our favorite strategies for starting + growing your software company:

 

1. Start your company

If you’re operating a business without registering as an LLC or Corporation, you’re taking a big risk. Your personal assets can be taken to pay your business debts. That means you can lose your car, house, and bank account on a product injury, a bad business deal, or a freak accident. Is it likely? Probably not. Is it worth all that risk to save a few hundred bucks on registering? Definitely not. Register your company with the state and follow certain formalities, so only your company assets are at risk.

Youʼll start by completing the state paperwork to register your entity. First, you'll need to decide what kind of entity is the best fit for you. If you haven't decided yet, check out our guides to Sole Proprietorship, Partnerships, LLCs, C Corporations, and S Corporations.

Now you're ready to register. If you are registering an LLC, the form is usually called Articles of Organization. If youʼre forming a Corporation, the form is called Articles of Incorporation. You can find these on your stateʼs corporation agency website. Youʼll also need to choose a registered agent, principal place of business, and business purpose. Keep in mind that all of this information, including your address, will be public.

Tip: Call in your business attorney if you’re not sure which entity is the right fit for your company.

 

2. Lock down your brand

A trademark allows you to own your brand. It means you're the only company who can use your company name, logo, slogan, domain name, personal name, product name, or hashtags. Here's why it's key: without it, you can be sued, forced to rebrand, or have your customers stolen by copycats.

Trademarks give you the exclusive rights to use the name nationally. So if someone else registers your trademark, they’ll own the rights to your name nationally. You'll only be able to use it in your geographic region (typically your city). That's not ideal!

Think about how many brand pieces feature your company name: your website, social media, business cards, products, marketing materials, press links, inventory, etc. If you want to operate nationally, you'll need to change all of that + pull back all inventory with the brand on it, or possibly pay monetary damages. You'll lose customers, money, and valuable momentum.

Bottom line: if you’re building a brand, you need to own your trademark.

 

3. Find your developer

Map out your software and figure out what you need to create it. Then, find a software developer with experience in that area. The best places to check are upwork for hiring freelancers and Hyperlink Infosystem for a development company.

After you decide on your developer, lock down the details with a developer contract. You’ll want to define the project and any deliverables that you must have, the milestone schedule, payment plan, intellectual property ownership, log in access, and inspection timeline.

 

4. Protect your users

You’ll need a personalized user terms + conditions and privacy policy. Your policies tell users what they need to know about downloading your software. You'll want to spell out the rules for using the software, sharing content, and what you do with user data.

Need a user policy? We offer a simple contract that hooks up your software with exactly what it needs. If you want to talk more about user policies, start with a free consultation.

 

5. Promote your software

There are so many ways you can market your brand. You can use instagram, Facebook, Snapchat, Twitter, YouTube, email newsletters, and influencers to promote your brand online. Find out where your customers are online and join them!

You can also check out tradeshows and trade organizations for tech products like CES, Tech Crunch Disrupt, or SXSW.

 

6. Pitch investors

If you’re looking for investors, you’ll need to have your company setup properly from day one. Investors usually require that you’re registered as a company and have your trademark locked down. They’ll also want you to have a solid business plan with financial projections and a valuation. Lastly, you’ll need to develop a pitch deck that describes what your software does and why investors should fund you.

     
     

     

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