| Businesses need software to run efficiently. | | | | updates" integrated into the software has |
| Software can be a great enabler for small | | | | become standard. Also, keep in mind that major |
| businesses, but with so many options available | | | | version updates/upgrades will often be fee-based |
| how do you know that the ones you select will | | | | but that’s acceptable practice. |
| be supported, remain relevant, and be around as | | | | 3. Review the companies business model. |
| long as you are? Every business needs software | | | | No, you don’t have to call the CEO and |
| in order to run efficiently, effectively, and | | | | ask for a detailed accounting statement and their |
| productively (accounting, marketing, | | | | business plan. Simply take some time to review a |
| communication, etc.). Software technologies can | | | | few key areas of the business model so you get |
| be a great enabler and level the playing field for | | | | an idea how this company makes it’s |
| small businesses, but with so many technologies | | | | money. If it’s not apparent how they |
| available how do you know that the ones you | | | | make their money, then they probably |
| select for your business will be supported, remain | | | | aren’t making any and they won’t |
| relevant, and be around as long as you are? | | | | last. |
| When selecting software for your company keep | | | | Focus on these 3 areas:i. Core Revenue Streams: |
| in mind that you want to make selections that will | | | | How the software is sold is the big one of course. |
| be around for a long, long time (as long as | | | | Is it a 1-time fee, user-based licensing fees, or |
| you’re around); you want software that | | | | Software-as-a-Service (SaaS) for instance; are |
| will be supported both with updates/upgrades, so | | | | there yearly fees; are there product verticals |
| that it doesn’t become obsolete, and with | | | | such as a Home, Pro, and Enterprise |
| customer service, so you can get help when you | | | | versions?’ii. Target Audience: By |
| need it. | | | | understanding who the provider is trying to sell to, |
| Here’s how you make sure these things | | | | you can better understand if they are trying to |
| are true about the software you’re about | | | | sell to you (therefore the product will be relevant |
| to buy: | | | | for your needs and development won’t |
| 1. Research the software providers website and | | | | steer into non-relevant sectors or uses), if they |
| check out the customer support areas, if any. | | | | have a sustainable source of buyers (or is it too |
| This is of course obvious because you probably | | | | niche), and if the price model will remain accessible |
| wouldn’t know about the company if you | | | | for you.iii. Competition: Find out who the big |
| didn’t somehow land on their website. | | | | competitors are and ask yourself why |
| However, some company’s can have | | | | you’re not considering them. There are |
| great looking websites, and even a terrific | | | | lot’s of reason not to go with the |
| product, but poor or non-existent customer | | | | market-share leaders, just make sure they make |
| support. | | | | sense for your business. Also, consider that the |
| Review the website for customer support areas | | | | top 3 — 5 competitors will likely be around |
| and find out what type of support is offered. Is it | | | | for a long time and therefore run little risk of |
| free or paid; is it by phone, by chat, or by email; | | | | going out of business or being bought out. |
| is there user driven or peer support (e.g. | | | | 4. Last but not least, review the buzz on the |
| knowledge base, message boards); and is there a | | | | software and the company you’re buying |
| live person you can speak with when the going | | | | from. |
| really gets tough. | | | | You’re not just buying software, |
| Most credible technology products will have some | | | | you’re investing in a company so make |
| combination of the above but some level of free | | | | sure you learn what you can about how they do |
| customer support is a must. Also, keep in mind | | | | business. A great way to do that is by checking |
| that paid customer support can lead to a conflict | | | | the buzz on the company. |
| of interest for the software provider with | | | | Start with reviewing the current client list and see |
| respect to product development, and should | | | | who else uses the company. The software |
| therefore not be part of the core business model | | | | providers website should have a list of current |
| — some paid support is perfectly fine (see | | | | clients and if they don’t, contact them and |
| point 3 below). | | | | request one (get at least 5 — 10 sample |
| 2. Review the product history and check for | | | | companies). |
| updates/upgrades. | | | | Also, Google/Bing/Yahoo! the software to find out |
| Here’s something that often gets | | | | what people are saying about it. Running searches |
| overlooked. A great way to find out a few things | | | | that include words like "reviews" and "comparison" |
| about a particular software technology is by | | | | are good starting points but check popular review |
| reviewing the update and upgrade history for that | | | | sites as well. Also, don’t be afraid to utilize |
| product. | | | | your personal/professional social networks like |
| An update/upgrade history can tell you important | | | | FaceBook, LinkedIn, and BizNik — ask |
| things such as when the software was released | | | | people you know what they know. The |
| (so how long has it been around); how often are | | | | socialsphere can tell you a lot about a company |
| updates provided (so you know the company is | | | | so access it. |
| keeping it current); how many problems there | | | | Depending on the size of the financial investment, |
| have been with the software — bug fixes | | | | and the role the software technology will play in |
| (careful of never ending bug fixes); and how | | | | your company, research can take anywhere from |
| much upgrades cost, if anything. | | | | an hour to months. Don’t rush it but |
| A credible software will have a history of major | | | | don’t get buyers paralysis either. When |
| version upgrades which tends to mean the | | | | you find what you need, buy the thing already |
| product is mature and refined. Minor updates | | | | and get on with the business of your business. |
| should be freely available and a "check for | | | | |