Seventhman Blog

Do You Have a Million Dollar Software Idea?

"software idea"You’ve got an idea. Great!  How do you know if it’s a good one?  There lies the problem among many who are wanting to build a viable software that will sell.  When great ideas are a dime a dozen, so the adage goes, it’s crucial for you to find that million dollar idea (as mentioned on this post from Forbes)  You may have a brilliant idea.. but you want to minimize the risk of getting your startup ready.  If you’re like one of the many who ended up with piles of ideas scribbled on a cocktail napkin, of concepts that never saw the light of day, you’re in for a treat.  I’m here to help you avoid this worst-case scenario where your idea crashes and burns.

The Myth Busters of Idea Generation

Just because you’re the boss doesn’t mean you’re always right.  Building your software idea from scratch will start with an awesome coding team.  While adopting the Agile concept of Intelligent Fast Failure where you fail smart, fail small and fail fast so you can succeed faster may help – you have to optimize your ego and take an objective stance in every stage of the software development process.  The key here is to listen to feedback and look at the numbers presented from all the data researched about your idea’s strengths, weaknesses, opportunities and threats.  In short, make that S.W.O.T. analysis count.  Don’t be tempted to mimic the best out there and play it safe.  If everyone’s doing it,  how can you even offer value to the table?  While no argument is right or wrong, you don’t have to disrupt just to innovate.  Most of the time, the most innovative applications of them all are the simplest to use.

What is the Market Potential of Your Software Idea?

It might be a shocker to you that majority of businesses fail within five years of starting up.  After all, you want to come up with a software that sells.  You may be on a bootstrapping mode right now and don’t have the time to do proper market research which can be costly.  The Good News?  You can always ask and collect feedback from social media sites – so long as you do it with style.  If you think that email marketing is dead, you might try to reconsider this option.  The trick here is to tie it up with a squeeze page or ‘launching soon’ page that will collect email signups before you even come up with the finished product.  You may even send exclusive invites.  Your job is not only to create anticipation about your product, but testing which approach will work best.  By the time you’re done, you have already built a list of customers on your wait list.  Or, you can always google trends and take down notes.

You Don’t Need Coding Skills to Start a Successful Business

You might have heard a lot of debates on this topic online and there are those who will tell you that knowing every aspect of the software development stage is essential.  But here’s what they forgot to tell you – coding is both a science and art, where the very best of us have taken more than a decade of practicing our craft and yet, we’re learning something new each time.  Coming up with a good idea means making sure that there is a market for it, or else, you’re just be wasting time and money.  You might not agree with me here, but when business ideas fail –  it’s not really because the concept is bad, but the execution is.  Knowing who your customers are and solving their pain points should be your No. 1 priority. Your passion and commitment will be tested.

There’s a good chance that you might fail.. and then, there’s a greater chance that you will succeed.  Do you need help getting there?  Let’s Talk!