Internet has changed our lives in many ways. People all over the world use various virtual services to accomplish their work faster that they’ve ever. SAAS or Software as a Service is an example of a new idea that has brought about the new business category. The SAAS developers make millions of dollars selling their software-based automated services. The income stream is non-reactive in nature; once you have completed your initial development it is then time to market your software-based services to generating steady income for the rest of your lifetime.
This article will show how a software-based service can generate a significant amount of cash online. The suggestions and methods presented here are from some of the top market leaders and experts:
How To Generate Passive Income From A Service-Oriented Software – A 101 Guide
Service-oriented software is able to simplify and streamline various business processes. Most major companies have incorporated at the very least two accelerate DORA metrics or three such services to make their operations faster and more efficient. Let’s find out how you can create a software for a service provider and then sell the services to earn passive revenue from it.
#1 First you will need to explore the market, the customers, demands of such services and also your competition. Market research is very important as it can only help you decide on the most suitable product to create. You may also engage a marketing professional to help you in this.
2. Once you’ve finished researching about the market, you must begin to develop the software. You should hire a few experts to assist you. If you’re not a technical person, you’ll need a team of programmers and software developers who can work for you!
3. During the phase of development during the development phase, you must prepare the marketing plan in addition. Make sure that you’ve contacted certain news agencies and media companies to help you promote the message. You should prepare the pricing plans based upon your market research that you’ve done earlier.
After the product is developed, it’s time to conduct some test runs. You have to make sure that everything is running smoothly before you start selling out. You could use the SAAS to start your company and explore the bugs you find. While you’re at this point, you should also get an idea how the subscriptions are working.
#5 If you have reached this point, you’ll be receiving inquiries from leads in the business. Interested companies will contact you to find out more about your product or service that you have to provide. Make sure you have all the answers for their inquiries. This will certainly help you gain a lot of customers and kick off your business.
6. At this stage, you will begin earning money automatically. You’ll start to earn referral traffic from various sources and you will be receiving new leads. What you have to do is to educate them about your great service-oriented product before signing the deal. You could hire executives professional in customer service, as well as technical staffs to get the office process completely automated.