Starting my own Software Development Company
Starting your own business is one of the most powerful ways to take control of your life and make extra money month after month. Perhaps the only thing harder than establishing an independent software development business is figuring out how to make that business grow. Even though a software development business is a very profitable business and can easily be started. Becoming an entrepreneur and starting your own business is not for everyone. It took me a long time to finally get my business started. The main factor being trying to find the time to get things started. And what I found out is that there is never a “good time” to start. You have to make the time in order to get started. Yes, it will be hard and yes it will be time consuming. But if this is what you truly want to do then you have to put in the time and effort to make it work.
I am just beginning my journey on the path of entrepreneurship and so I figured that I would chronical what happens to me along the way. I’m doing this not only with the intent that maybe someone will learn from me but also as a way for me to see the growth of my company and more importantly, myself. During my research I found out that most small computer software development businesses are usually formed as a privately owned limited liability company, joint venture, or S corporation. So I went and dug a little more about these types of companies and eventually settled on a LLC or Limited Liability Company. The main reason was it allowed me to keep my personal assets separate from my business holdings for legal purposes.
The next step that I took was developing my website. An online presence is increasingly significant and small software development businesses can benefit immensely from a digital marketing strategy. Now because I am starting a software development business and I AM a software developer, that process did not take much time at all. In fact, it was a great learning experience because it allowed me to learn new skills that I can apply to the business. And that is something that I have learned throughout my career, always look to improve yourself.
Next, I will discuss the financial aspects of starting your own business.