IT Knowledge Worth Millions
Is your IT Knowledge Worth Millions potentially? It just might.
It set me thinking when one contractor said that he had written exactly the same piece of software for 3 of his last 4 clients.
He has probably lost an opportunity here to make himself quite wealthy. He has IT knowledge worth millions potentially.
Anyone who writes any software and gains business knowledge in the process, should ask himself or herself if there are other people out there that would pay for that knowledge. Not just in hiring a contractor to write a similar system for them.
The thing to do is, whenever you write something, to make a list of other companies who might need this.
If you are in a particular sector, e.g. the Water Industry, then you know who else wants it.
If it is a piece of software that a lot of companies would want, you could then approach a distributor to see if they thought that they would have a market for it.
You could also approach a larger software company with existing clients who don’t have this piece of software.
They could then have you as a sub-contractor.
The bigger companies like to sell the whole package and then manage it, with your software package as just a part of the package.
Offering Software Packages
The best thing to do, though, is to approach companies who might need a piece of software. Then offer them the package. That’s before you’ve written it of course.
The big IT consultancies don’t write very much software without first having a customer for it. You shouldn’t either.
All you‘d have to have is a prototype.
It’s called proving the concept. The idea being that if you can’t find a customer for it then it’s now worth writing.
Keep the Intellectual Property Rights
Normally what they do is to write it for one customer but keep the Intellectual Property Rights for it.
They are able to do this by offering it to the first company cheaply.
They can either do this, or licence it to them.
The idea is that they wouldn’t charge them for the writing of the system. However, they would charge them an annual licence fee.
The company would obviously have to sign up for a number of years.
Regular Income from Software Building
If you can afford to do this, this is the best way forward. You then have regular income AND a system that you can sell to other people.
Of course, you will, be able to get income from the first company by building in extra features, which will, at the same time enhance the system. You have IT knowledge worth millions.
If you are able to do this, then you are well on your way to your first million – and you are unlikely to stop there.
Simply Umbrella – Simply the Best
New kid on the block Simply Umbrella is simply the best umbrella company around.
It adheres to all the tax rules. They created it after the Chacellor’s spring statement.
It’s just like other umbrella companies in that the contractors is an employee of Simply Umbrella but they get to keep far more of their money than through an oridinary umbrella company.
To find out more just click on Simply Umbrella.