62. How to Start a Software (SaaS) Company

One of my favorite strategies is to either use software in an existing business or start and sell a software or SaaS product of your own. The possibilities are ENDLESS! In this lesson, I speak with my good friend and business partner Trey Richards, who is one of the best software developers and just all around one of the smartest people I know and we discussed how to use software to either start a business or grow an existing business. Check it out! 00:00 Introduction and Personal Updates 01:45 The Power of Software in Business 02:28 The Magic of Software Development 03:38 The Importance of Mindset in Software Development 04:38 The Difference Between a Hammer Swinger and an Architect in Software Development 11:45 The Journey into Software Development 19:10 Understanding Different Types of Software 28:40 The Value of Owning vs Using Software 31:31 The Unique Scalability of Software 33:37 The Power of Software Development 33:53 Understanding the MVP Model 34:27 The Lean Startup Approach 35:14 The Importance of Scalability in Software 36:11 Building a Successful Software Company 36:41 The Reality of Starting a Software Company 37:08 The Journey of Five Oak 40:00 The Importance of a Business Plan in Software Development 43:56 The Potential of AI in Software Development 45:12 The Role of Software in HR 54:45 The Potential of Developing a Better Slack 57:54 The Importance of Choosing the Right Developer 01:00:55 The Power of Taking Action in Business To get exclusive offers mentioned in this episode and to support the show, visit millionaireuniversity.com/sponsors. Learn more about your ad choices. Visit megaphone.fm/adchoices