As you may know, Long Tail Pro is a keyword research tool that I created out of my own frustration with other keyword tools as I researched my own niche websites. While my first love has always been niche sites, and they are still a great place for someone to learn the ropes and earn a decent income… I highly recommend you look into starting a software business as it can be a LIFE changing business.
How Pros Make Money Online
Here are a few ways you can make money selling software. The first programmer I hired was inexpensive… but he ended up trying to hold my source code hostage. The next programmer I hired was expensive, but he was worth every penny Recruit affiliates for your product… and keep recruiting.
I recruited until the day I sold Long Tail Pro and that was one of the biggest reasons for my success. Affiliates change the game for you Email your own list and talk about it on your website or blog.
Publish to social media about your software. This keeps you from making big mistakes and helps you to adjust as you go Expect ongoing maintenance.
Getting Started With Making Money Creating & Selling Software
This was a game changer for my business Why a Software Business? First of all, why is software such a great business? The reasons are fairly simple; with software you can create something once and then sell it an unlimited amount of times. For this reason, the profit margins are much larger than a typical business selling a physical product.
How can I earn money online?
If you were manufacturing a product, like socks; you have to pay for materials and manufacturing costs every time someone buys a pair of socks. This is not the case with software.
The additional cost when someone buys software is usually very little; especially if its an online application or something delivered by email. Obviously you knew all that though!
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In addition, a software business is something you can run out of your home or anywhere else. All my programmers and customer support staff are virtual; working out of their own homes as well. It now makes more money in 2 software that makes money, than most people make in a year.
Yes, this is revenue, not net profit…but as mentioned before the profit margins are pretty huge for software in general, and that is no different for Long Tail Pro.
In addition to my own time, I pay programmers, customer support, APIs, hosting, etc. For Long Tail Pro, I actually made software that makes money rookie mistakes, and the first programmer I hired did not work out well.
Rather than share the sad story of what I did wrong, let me just share some tips that I learned for hiring a great programmer. First, always communicate as much as possible before you hire a programmer.
I'd love to learn about...
Do a Skype call or phone call. Exchange emails.
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- 100 dollar option
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- Prop on options
- Option value chart
And document as much as possible what is expected for the task. Second, ask your potential hire what concerns or problems they see with your project.
Top 5 Ways to Make Money with Software
What you are looking for is someone that is willing to take interest in your project and make it as successful as possible. Third, clearly define what is to be delivered at the completion of the project.
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You will want to specify that you have full ownership rights of the source code. Fourth, discuss what the expectations are for ongoing maintenance software that makes money resolving bugs.
- No- loss bets on options
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- Binary options on an index
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Every software project is going to have bugs that come up when different people use your product, so you need to know that your programmer is will to fix those; and what his compensation will be. I paid my programmer a fixed job price to get the first version of Long Tail Pro up and running. But I now pay him on an hourly basis for any ongoing maintenance, updates, and resolving bugs.