How to Earn Money with Software Company Ultimate Guide

Here I am explaining "How to Earn Money by your Software Company". If you are interested in Software Technology field then you then you read this blog. You will become your own Boss by opening new Software Company.

You can open Software Company very easily with small space, Internet connection and with few Laptops and a dedicated Team of Software Developers. I am working in Software Company and I am sharing my experience with you.

11 Tips on How to Earn Money with Software Company:

1. Open new office and create Unique Name of your Software Company.
2. Register Unique Name of your Software Company in Small scale Industry website online or by CA as per company Law.
3. Take GST Registration no for your Software Company by Govt GST Registration website.
4. Take PAN No of your Software Company by Income Tax Department.
5. Open Current Account in Bank with your Company Name.
6. Hire a Software developer, Team Leader Technical Team.
7. Purchase License of Software Language and Data Base in which you will develop Program.
8. Take few Laptop, Internet Connection, Leased Line,1 IBM Server.
9. Make Sample Projects of different Departments for Demo to Client.
10. Show the Sample Project to client and Take order.
11. Make agreement with client for customized Product after system analysis of project. How much time required to complete the project and how many manpower required. After calculating the budget then give quotation if your quotation approved then make agreement with client. Give 1 year free Annual Maintenance Charge(AMC) after 1 Year make agreement of monthly maintenance charge with client.

When client agree to purchase software from you then take advance payment for developing one module. Divide total project in different modules and ask payment module wise from client.

There are Seven Phase of Software Development(SDLC):

1. System Analysis of Manual Project and Technical Project.
2. DFD Diagram generation.
3. Design of Software
4. coding source code development.
5. Testing of Software
6. Implementing the software on client site.
7. Training the users.

How to Earn Money with Software Company Ultimate Guide

Software company divided in 7 departments:

Seven departments works and responsibilities

1. ADMINISTRATIVE DEPARTMENT
2. MARKETING DEPARTMENT
3. DEVELOPMENT DEPARTMENT
4. IMPLEMENTATION DEPARTMENT
5. ACCOUNTS DEPARTMENT
6. HR DEPARTMENT
7. R&D DEPARTMENT

This software code is your own product, reuse this code and sale to other clients also of similar work. You can customize code as per your client requirement. Never sale your source code to client only implement exe file. Take copyright of your Logo and Company name.

1. Show the Demo and take Order from client for Software.
2. Write code and develop module wise Project.
3. Testing of Software module Onsite and Offsite: A-Black Box Testing, Testing By Programmer. B-White Box Testing. Testing By User.
4. 4.Implementation of all module wise project on client computer and Server or Cloud Server .
5. Training of all users who will work on your Software Project.
6. Debug all errors and fix it, when user complain that your software not working Properly.
7. When user completely satisfy by your software and your software fully implemented then you ask remaining Balance payment from client.

RESPONSIBILITIES OF EMPLOYEES

Transfer responsibility department wise. Work distribution and Responsibility of different departments:

ADMIN DEPARTMENT:

Admin department work for making plan of Office Infrastructure, Office Location, Office staff strength, Appointment of Software Developer, Appointment of Marketing staff, Appointment of Implementation Team. Admin department centralized control all Branch work.

MARKETING DEPARTMENT:

Marketing Department Tele calling the customers, taking appointment from Customer for showing Demo of Project and asking purchase order, If the software will solve the customer problems and Customer satisfied with software then customer will make agreement with software development company and fixed Target date of implementation of software. Software company and client sign the agreement and Customer partially Pay Advance for starting the customized software for his Organization.


Marketing staff also Organized seminars for demo of Software and invite the customer for Business promotion. Marketing staff also contact with old client and ask for new project. Some good client also provide contact numbers of new customer for implementing the software. New customer may be his friends or subsidiary company.

Marketing department also advertise the software in social media Like YouTube, through there own website , on Television Broadcasting.

SOFTWARE DEVELOPMENT DEPARTMENT:

Software development department design a Waterfall module and develop the software module wise. Each developer assign a module and developer write the source code in software language which is assign by project manager. A team work started to develop software and report to project manager, project manager transfer these module to Tester Team. When tester team test the module and told that it is OK for implementation then this module implement on client side computer for user Testing .

IMPLEMENTATION DEPARTMENT:

Implementation department tested the software module by dummy entry of data. Implementation Team also consult with client and understand the requirement of user. This is called Black Box Testing. When the input data and output data showing the correct result and final report generated with these data is OK then this software module implement on client site where user tested the software module by entry real data, actual document. This is called White Box Testing.


Implementation Team divided in Two division.

1) Testing Division.
2)Implementation Division.

ACCOUNTS DEPARTMENT:

Accounts department is heart of company. It keeps records of all Payment Received and Payment transfer. Account department fix the cost of software. Costing Valuation analysis with the team of CA and Technical Project Manager.

5 Factor Analysis necessary for the costing of software:

1) How many software developer required.
2)How much Time required to complete the software.
3)How much accessories computer, server and office space required for project.
4) How much amount required to pay the salary of Software Professional.
5)How much time software company will provide Free software Maintenance in implementation of Software on the client side.


Account department keep all transaction including Salary, office expenses and Govt Tax. It also generated Monthly profit and loss report. Monthly Trial Balance report.

Accounts department submit Yearly Balance Sheet Report to Govt Agencies. Balance sheet report generated by Chartered Accountant with the help of staffs and Auditors.

REUSE THE SOURCE CODE FOR OTHER CLIENT

When software company received the similar project from other client then software company reuse the previous source code.

Some client demand the source code for edit and modification purpose. Software company sale the source code to the client when client pay handsome amount for source code. Software company keeps the Master Page and only sale the duplicate copy of master page (master code) to client. Client setup an EDP department and hire a developer for new update and modification .Now Client does not pay Annual Maintenance Charge (AMC) to the Software company.

What is Annual Maintenance Charge(AMC)?

When software company implement the software on the client site then client make agreement with Software Company for maintenance of the software. This contract is valid for one year. After one year contract renew. Annual maintenance charge of software is called AMC. Client pay 5% of total purchase amount of software for AMC.

I hope that you must like this Blog "How to Earn money by your Software Company". I always try to give complete information about article so that reader never go to search other site or Internet.

It will save readers time and readers receive all information at the same place. If you have any doubt or want to modify the article, then please comment below.


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