How to Set Up a New Software Business

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To set up a new software business, get training in the computer software industry, consider the merchandising and distribution agreement, and advertise in different markets. Consider how to make a new software business competitive with advice from a marketing management professional in this free video on business.

Part of the Video Series: Small Business Tips
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Video Transcript

Hi, my name is Mark, and we are going to look at how to set up a new software business. When we talk about the word software, we're talking about understanding computer language, or languages. There are many of them, and when contemplating this, it's either a background you already have from working from that industry. Or it's something you're interested in. And if it's something you're interested in you have two options. One, to go and study it at school or college. And really learn about that language. The packages available. Or two, is to actually go into business of selling them. Which means you become a distributer for various packages and programs. Become a reseller. Which is a different all together. Of course it's good to have a knowledge and understanding. But you don't have to become a specialist in it particularly; you just know that you are marking the business effectively. And the people who you're marketing to find out about it and come to you. Whether it be on-line or retail. And for that of course when you're to match setting up a business you need to think of the agreements, the merchandising and distributions or agreements that you require to become a distributor for those particular products and services. Is it a product or service that you can add to an existing business you already have? So this is something else you can consider. Maybe you're in the computer, hardware business and you want to add the software to give it more rounded balance service. So you need to think about the options you have available to you. Or you going to go back to college to study and actually get into the designing of software? Or are you going to be just be selling the software packages? These are the options you need to consider. Of course as I mentioned the licensing and merchandising agreements if you are going to be a reseller. And are you going to add this service to what business you already have? Or are you going to set up something completely new and fresh. In which case you need to consider the for P's again. The product, the service you're offering. The place, are you going to be doing this online, at home, in an office, or retail for example. Is the pricing policy going to be competitive? Or because you're selling for example a package that has a recommended retail price, you have to think about your pricing policy. Are you going to be offering something at an added value or in a completive way? And how are you going to promote yourself? Are you going to be advertising in magazines? In specialist press, trade press. Or are you going to be locally marketing yourself. So people know that you're available. These are questions you need to consider.

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