Every business has its own budget not just for software development, but marketing and advertising, operations, etc. It’s normal and natural to keep business plans focused on the markets you know best. What stands out, however, is looking at your software in terms of what types of companies and end-users could benefit from it. Once you have a software product, you have a variety of options for monetizing it beyond your own use:
- Software as a Service (SaaS) or Platform as a Service (PaaS)
- White label products – direct sale or lease of the license, fee per use royalties, etc.
- Partnerships or Software Development IP Joint Ventures
We can take the case of Opera Mobile Store as a platform for distributing mobile apps, being licensed as a white label product to Yandex. While it’s necessary to safeguard your intellectual property, you have the potential to be a technology partner to all manner of businesses lacking their own software development teams. The only questions are a) how much you want to prioritize software development as part of your business, b) how closely you want to work with other businesses, and C) how long you want the business arrangement to last.
Companies like Amazon, Google, Uber, etc., focus heavily on acquiring market share, even at the expense of profits. That makes it hard for SMBs and startups to compete for lacking the resources to do so globally. Part of the solution is simply to look at the different ways you can partner with other businesses. Though your startup may not have the capacity to launch and operate in a particular country – if it has the capacity to localize its software, it has the capacity to partner with another company that does.