The Secret to Finding Profitable Software Ideas

Thinking of quitting the tech industry grind to start a profitable software business yourself? Before you take the plunge, don't make the same mistakes I did!

The secret to finding a profitable software idea, is that it must come from your customers. Unless you know a real pain that people who would use your software are experiencing, you can easily fool yourself into thinking it's good enough to build a software product business on.

In this episode, I share what I've learned about finding real software product ideas. I use a combination of IBISWorld, ChatGPT, and a book by Dane Maxwell to help my software development coaching clients discover software startup ideas.

IBISWorld Businesses  https://www.ibisworld.com/industry-statistics/number-of-businesses/

Start from Zero by Dane Maxwell https://www.amazon.com/Start-Zero-Business-Experience-Freedom/dp/1950367185

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You can also watch this episode on YouTube. 

Chapter markers / timelinks:

(0:00) Introduction (1:42) Finding a Profitable Software Idea (1:54) 1. Select a Customer Market (2:50) 2. Determine How to Contact Customers (4:37) 3. Ask Customers for Their Biggest Problem (6:05) 4. Ask People Who Responded To Meet (7:03) 5. Ask Them 5 Questions (7:15) Make Sure You're On The Same Page (7:29) How Are You Solving It Today? (8:15) What Happens When You Don't Solve This Problem? (8:50) If You Could Wave a Magic Wand, How Would You Solve It? (9:36) Would You Pay for That Solution? How Much? (10:48) Identify Consistent Profitable Problems

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