Advances in cloud computing, open source software, and distributed teams allow founders to test ideas and bring products to market much more easily.
For those aspiring to start their own software business, here are compelling ideas that can be launched without substantial capital outlays.
Freelancers have unique needs when it comes to managing their businesses, and many are looking for software to help them streamline client management, billing, accounting, project management, and much more. There is enormous unmet demand for SaaS products targeting the 60 million self-employed knowledge workers in the United States alone.
Since solopreneurs have tight budgets, serving this market with competitively priced tools could translate into massive customer counts for founders who gain traction. The key is to focus on affordability and excellent customer service.
From doctors’ offices to law firms to home service providers, nearly every industry needs specialized software to manage scheduling, billing, document storage, and more.
Developing specialized query management tools for specific verticals can be cost-effective while satisfying your own interest as an entrepreneur familiar with a particular industry.
The beauty of vertical SaaS products is that they don’t require large development teams to launch an MVP, as long as you deeply understand the needs of your target customers.
No-code platforms allow you to create everything from simple applications to complex business workflows without extensive technical knowledge.
Creating your own no-code tools and templates to sell to other non-technical small business founders and owners can be a lucrative venture.
The market for cloud-based authoring tools is estimated to grow at a steady annual rate of more than 15% through 2030, as digitization continues across all sectors.
There’s plenty of room to reinvent the way you build apps and automate tasks with easy-to-use no-code platforms.
From eBooks, courses, footage, and themes to plugins, templates, and more, business owners have many options when it comes to creating their own digital products without significant upfront development.
You can target different niche audiences and try selling independently before seeking external financing.
Creating a microbusiness based on digital products leverages the power of the Internet to help you quickly validate and iterate your offerings.
With the rise of messaging apps and the adoption of productivity automations in many companies, bots and automations have become a promising low-cost startup idea.
You also don’t need to have great technical knowledge to create something valuable.
With so many automation tools and natural language APIs available today, it’s entirely possible to launch a useful minimum viable bot in just a few weeks and then get funding for more advanced functionality.
The shift toward remote and hybrid work has caused huge demand for software to support distributed teams. While traditional operators like Monday and Asana dominate the space, there is room for new entrants that cater to specific team configurations with unique features and competitive pricing.
Companies, even with 20 employees, now frequently have remote staff, so products that facilitate better coordination and transparency for hybrid teams could quickly gain traction.
Creating a complex product from scratch requires a lot of initial effort. An alternative approach is to white label or resell existing SaaS products for specific niches.
I prefer to focus on distribution rather than creation.
Instead of creating something that only a few want from scratch, it’s easier to start by reselling something that already exists to specific groups that need it.
Developing countries and emerging markets have unique application needs that have not yet been effectively addressed by incumbents. Local developers are best suited to create applications for their communities.
I’ve had great success with apps that offer services like payments, logistics, and telehealth to clients in Africa who have limited options.
“Amazing businesses that serve overlooked markets can be created with accessible mobile apps.”
Businesses rely on a patchwork of disjointed applications that need to share data seamlessly. Building integrations and API tools makes it easy to bridge the gap.
The integration platform market is growing at a rate of 12%, well above enterprise software in general.
Startups have the opportunity here to carve out a niche by developing custom middleware, aggregators and connectors for specific use cases.
While launching a traditional, venture-backed SaaS company can require millions in upfront funding, following a startup model focused on underserved markets allows you to get started with just an Internet connection and a good idea.
The low-cost concepts in this article can provide aspiring founders with a starting point for building their own recession-resistant software companies.
Conducting rigorous customer research, wireframing, and launching very basic MVPs can help gauge demand quickly before committing to full engineering sprints. There has never been an easier time to start and iterate.