Our experience working with Australian software companies has helped us identify the 5 tips for commercialising your software and the 5 most common mistakes they make in commercialising their
software.

1. Underestimating the cost of acquiring clients.

 Australian companies who build software for commercialisation purposes, always underestimate the cost of acquiring customers and business. Yes, that’s right ‘always’, not ‘almost’ always. Many who build software have a “build it, and they will come” approach. They assume that everyone wants their solution and completely underestimate the competitive market.

They also allocate most of their resources to development and little (if any) to sales and
marketing. When calculating the ‘cost of acquisition’ focus on lifetime value of the client. Allocate the
resources to marketing and sales based on this approach. Although there is no out-of-the-box formula to market your product, make sure you engage
with an experienced external marketer and allocate the resources for ongoing marketing.

2. Don’t build your software exclusively with the technology buyer in mind.

Those who develop software have the ability to have a ‘myopic’ view of their efforts. They may place too much value on the aspects of their solution they find appealing, and not enough on the benefits that drive sales. They are also more likely to identify with the more technologically proficient people in an organisation, than those who run the organisation.

Engage with a software sales expert early in the development process to make sure that at least the first iteration of your software solution ticks the primary ‘benefits’ boxes that encourage purchases. The ‘nice to have’ features can always be added later when budgets permit.

3. Focus on your primary features and benefits

Focus your development, marketing and sales activity on a few key beneficial features that drive customer acquisition. Our experience has shown, that given the budget, most developers will work on refining a solution forever. Feature creep and second-guessing what the customer wants are key reasons why many software solutions never get past the beta testing stage.
Stay focused on the features and benefits that are important to your customers and the rest will come.

4. Don’t leave marketing and sales out of the loop

Software companies can act a little like cats. They drop something that’s already dead at your feet and expect you to get excited about it. This doesn’t need to be the case if you bring sales and marketing into the loop early enough. Start talking to sales and marketing at the point when you are in the project planning stage. This will help you focus your efforts where they can have the greatest impact early. It also allows you to coordinate your marketing and sales activities early, to develop the respective lists and contacts you will need to be successful.

You need a marketing and sales team that is enthusiastic, yet realistic. They should be experienced but open to new ideas. They should also be prepared to ‘speak truth to power.’ For the most part, this will require you to look outside of your organisation to find the right blend of experience, motivation and focus.

5. Play the long game

Mainstream media would like us all to believe that fortunes are made in the software world overnight. This is almost never true. It takes time, resources, focus and a lot of hard work for a software solution to become successful. Don’t make the mistake that a white knight venture capitalist will come along and save you. The most valuable money you will ever have access to will come early in the development
process. The more self-sufficient your solution becomes, the more value you build and retain. It also reduces your dependence on third party investors and allows you to remain in the driver seat.

Plan, prepare and consult with the best if you want to build a sustainable business model and a successful software solution.

To learn more how to successfully commercialise your software, click on the ‘contact us’ link below and send us your details.

From time to time all businesses can suffer from myopia. For those in the IT sector who have set their sights on developing the best solutions it is easy to miss the big picture.

‘How are you marketing and selling your solutions, what’s your distributions strategy, are there markets you haven’t even considered, can your solution be packaged as a greater IT solution?’ All of these questions need answers and often the best people to answer these
questions are not working inside your company. An organisation such as DST i.t. is ideally suited to providing an alternative perspective on the commercialisation of your IT solutions. 

DST i.t. unique perspective is the result of decades of ‘real world’ experience working with
the IT sector in Australia and abroad. DST i.t. also understand that ‘one size doesn’t fit all’ when it come to helping fund the activities that are needed to help you maximise the commercial potential of your business, because not all business are at the same stage of
development. DST i.t. will work with you to determine a commercial model that is both practical and beneficial to all parties. Additionally, DST i.t. can help with fund raising actives and access to grants. If you think it’s time that your IT business could do with a fresh
perspective, contact Philip Boland today on 03 9555 9050 or email pgb@dstgroup.com.au

If you run a business in the IT sector, it’s probably because you love IT.

You have probably already built a unique solution and you are waiting patiently for the business world to discover you. You’ve built your own website, you’ve exhausted your network of contacts and for the most part it’s payed off. You have grown your business to it’s current level, however you have a nagging doubt that growth cannot continue without making some fundamental changes. You’ve been able to sell on passion and experience alone but if you’re to grow further, you need help. You could employ marketing and sales people, but finding the right people and keeping them is costly and difficult. You also face the prospect of employing the wrong people and spending the next couple of years of dealing with the consequences of that decision. Wouldn’t it make more sense to outsource the responsibilities of building a distribution network, marketing and sales? Wouldn’t it be better to let others worry about hiring and firing? Aren’t you better off focusing on your core business and keep your cost down until you’re in a position to reassess your position? It is possible and surprisingly simple. 

Which comes first, the chicken or the egg.

To scale your business and increase profitability you will need more resources than you currently have, however you may not be in a position to fund these additional resources, or you are not sure exactly what resources you need. That is where we can help. We’re DST i.t., and as the name suggests, we specialising in providing funding, growth and existing strategies for the IT sector. We work extensively with the Australian IT sector in identifying
sales and distribution opportunities both within Australia and abroad.

Rather than going it completely alone, we can help you build a scalable business model and provide many of the resources you need to make that happen. These resources include business/market identification and development, marketing and communication as well as
sales. We can even help you access lucrative international markets and provide you with advice on your IP.

Does your IT solution have a natural partner?

Another way with which we can help your business grow is by identifying natural partners. Sometimes partnering with another non-competitive software or hardware vendor with existing market penetration can be the fast track to growth. We help identify these opportunities and provide the negotiating muscle to make sure these relationships are as lucrative, beneficial and possible.

When it’s time to leave the party

Whether you want to dilute your equity in your business or cash out all together we can help you identify the best way to make this happen and prepare your business for this eventuality. We can help you identify what are the best options available to help you achieve this and manage the transition.

Where to start

Simply pick up the phone and talk directly with Philip Boland on 0488 287 418 to arrange a discussion. It may be one of the most important phone calls you’ll ever make. 

Selecting the appropriate software to solve your business challenges can have a major impact on how well your business runs.

In fact, the software package that your company uses will play a big factor in the efficiency of your staff, and will have a direct impact on your ability to provide your customers with up to the minute information and services. This problem has been further complicated with mobile business, SaaS, and cloud-based solutions. There is also the cost and time involved in the scoping, specification, implementation and ongoing management of any new software integration process. Most organisations fail to understand that with something like an ERP software solution, the implementation process
can cost anywhere between 1 to 7 times the costs of the initial software license. And don’t think that inertia is the answer. Failing to take advantage of the latest software and technological advances will make you less efficient and less profitable.

So how do you make sure you make an informed decision about business software selection?

Yesterdays business software selection model There’s an old expression that ‘nobody gets fired for buying IBM.’ The reality is something quite different. Choosing the best-known brands is no guarantee that you have chosen the right solution for your business challenge. There are countless examples of very smart multinational companies selecting big name software solutions that have resulted in absolute disasters. These problems often start out with so-called independent implementation experts specifying a solution that is not right for a specific use. This begins with organisations that generate the majority of their income from implementing a small number of solutions. Their opinions are rarely unbiased and they don’t necessarily represent your best interests.

The new software selection paradigm

Organisations are getting a lot smarter with how they select their business software and the smartest of them all are using third party advisors, such as DST i.t. Companies such as DST i.t. are not part of the old guard of organisations who sell only one or two brands of software.
What DST i.t. does is act as your intermediary in the software scoping and selection process. They have knowledge of a huge range of solutions but have allegiance to none. They are impartial, which ensures the recommendations they make are also impartial.

What is the cost of engaging a third party software selection company?

The cost of employing an organisation such as DST i.t. to help you select the best business software is completely outweighed by the saving you can make. Think of just how much you can save by keeping your best people focused on your core business, rather than focusing on an activity where they most likely have limited knowledge and experience. Add to that the saving of not ‘over specifying’ your software solution or avoiding the pitfalls of piece meal or ‘vaporware’ solutions that never deliver on their promises. Then there are the cost savings of hardware, hosting, and the biggest cost of all…implementation.

Watch out for the latest potholes

As they say, ‘hindsight is 20/20.’ It’s more prudent to learn from other people’s mistakes than to learn from your own, and the wrong software solution can be one of the most costly mistakes you can ever make. The reality is that no matter how well you plan the process, if you depend 100% on yourself
and your own people to choose your software solution, you will never know all that an expert team such as DST i.t. know. DST i.t. have been the first responders to countless software disasters. DST i.t. knows ‘prevention is better than cure’ and works with clients to ensure these disasters never occur.

How DST i.t. works for you

DST i.t. is experienced at interpreting software vendor responses and knowing what is real versus ‘vaporware’. They work with you and your people to understand your culture, your challenges and desires. They then develop a scoping process and start identifying software vendors with possible solutions. They then go through a qualification process and provide you with a short list, identifying the ‘real’ costs, as well as pros and cons of each solution and implementation provider. They can even help oversee the implementation process and help ‘future proof’ your final solution. You choose the period of time you wish to the team to remain engaged.

If you’d like to know more, call Philip Boland today on 0488 287 418, email pgb@dstgroup.com.au or simply click on the Contact Us below

It’s a sobering thought to think that choosing the right business software could be the determining factor for your business success, especially when you are the first person to recognise that you are not a business software expert.

Beware the Sirens call

What you are is an expert in your business who is trying to navigate your way through the rocky straights of the business software world. To your left and to your right software ‘sirens’ are calling you. However, you cannot be sure which ones are calling you onto the rocks and which are leading you to safety. What you need is a professional business software navigator, who can help you avoid the shallows and Ñnd the best path to your destination.

Even the world’s most respected companies can make mistakes

Choosing the right software can provide you with the efficiency boost you need, reducing costs, human error, improving customer satisfaction and providing your people with the business intelligence you need to make more informed decisions. Choosing the wrong software can have the exact inverse effect, and don’t think choosing the wrong software is limited to SMEs. There are far too many examples of many of the world’s most respected
organisations suffering dire consequences with ill-fitting or poorly implemented business software solutions.

There is no room for emotion in business software selection

Choosing business software is not an emotional decision. Your personal beliefs and even the personal bias of your best people can obscure the choices that are best for your organisation today and into the future. What is required is an impassionate perspective, from an organisation that guides companies through this process regularly. That is the role of DST i.t.

If you would like more on how this process works and what it can mean for your business, call Philip Boland today on 0488 287 418 or click on the Contact Us button below.