Software is a booming industry of Pakistan that is contributing a lot to the national exchequer in terms of attracting foreign remittances and providing job opportunities to the greater community of tech graduates and software enthusiasts.
If you have also mastered a skill, technology, or a specific niche service in the Software industry, you can open a software house of your own. Start your entrepreneurial journey right now. Need guidance as to where to start? We have come up with a detailed guide that is going to assist you at every step in starting a software house in Pakistan.
Here I am explaining how to open a software house in Pakistan. Follow the steps to easily establish a firm. Chase your dreams of becoming an entrepreneur. Be another Bill Gates, Larry Page, Jeff Bezos, Steve Jobs, or even Elon Musk.
Step 1: Define your Business Plan
Find your target market: Get to know the industries or sectors you want to focus on. Find their specific software needs. Do consider the expertise you have in hand. If you are experienced enough, you might have explored a number of business models within the software and IT industry. Check if you can pursue the same you did for your previous employers. Most of the employment contracts does not allow to do so.
Services and specialization:
Decide on the range of services you will offer. It may be custom software development, web and mobile app development, or IT consulting. You can step ahead of being a conventional thing by developing your own technology or platform. For example, Bramers, has built an eCommerce solution for their clients in Pakistan.
Step 2: Carry Market research
Conduct thorough market research to assess the demand for your services and/ or product. You must have to know that there is a dire need of your services or solution. No one offer service or create a product when there is not a need or problem.
Find the problem and evaluate the people facing it. After that, analyze the competition. Find the gap and stay ahead of the competition. That will be your unique selling point.
Step 3: Setup up business & financial goals:
Set you short- and long-term goals. It shall consider the revenue model and the financial goals. It will become a roadmap to building your software house.
Step 4: Go for Business registration:
Register your software house as a legal entity with the relevant government authorities.Such as the Securities and Exchange Commission of Pakistan (SECP) for a private limited company.
Step 5: Draft your business structure:
Set up a partnership or private limited company. Consider factors like liability, ownership, and tax implications. Discuss it with your partners to decide on equity sharing as well.
In Pakistan, it usually happens that two friends or colleagues take an initiative. They start a company or a software house without documenting their revenue share. As soon as the revenues grew, either of them want more share. As a result, they part ways. So, it is better to pen down the legal way to prevent your business from dissolution.
Step 6: Acquire Licenses and permits:
Determine the licenses and permits required to operate a software house and ensure compliance with legal regulations. You must sign up with the SEBP (Software Export Board Pakistan) and P@SHA (Pakistan Software Houses Association for IT and ITES.
Step 7: Register for tax:
Sign up with Federal Board of Revenue (FBR) to a National Tax Number (NTN). You can do it on your own or hire a lawyer, tax practitioner, or an accountant for your company. Consider it mandatory for opening company bank accounts.
Step 8: Office space
Secure a suitable office space that accommodates your team, equipment, and future expansion. Find a space that is easily accessible for your potential employees. If you are starting with 2-3 members, you can find a co-working space. It will save much of your office expense as it requires a monthly subscription. And, that’s it.
Step 9: Hardware and software
Invest in the necessary hardware, software, and development tools. You may need to get licenses and premium tools to improve your team’s productivity.
Step 10: IT infrastructure
Set up a reliable IT infrastructure, including network systems, servers, data storage, and security measures to protect sensitive client information.
Step 11: Communication channels
Establish effective communication channels. Create communication strategies for both internally within your team and externally with clients. Utilize email, messaging platforms, project management tools, and video conferencing solutions.
Step 12: Hiring skilled professionals
Identify the roles needed to open a software house. It may be software developers, project managers, quality assurance specialists, and designers. Recruit skilled professionals with relevant expertise and qualifications. Do job postings, interviews, and assessments.
Step 13: Team structure
Define clear job descriptions, responsibilities, and reporting hierarchies to establish an organized team structure.
Step 14: Culture and work environment
Foster a positive work culture that encourages collaboration, creativity, and continuous learning. Build a friendly work environment to make sure the employees love working there. Add benefits for the welfare of employees to retain talented workers.
Step 15: Develop Partnerships and Network
Establish partnerships with local businesses. Let it be as startups, SMEs, or enterprises. You can provide software solutions or collaborate on joint projects.
Engage with industry associations. Attend relevant conferences, seminars, and workshops. Connect with the CEOs to gain insights and build relationships. Hunt for clients and partners.
Step 16: Client acquisition
Actively seek opportunities to connect with potential clients. Showcase your expertise, and offer solutions for specific niches. Utilize your network such as previous employers, colleagues, and friends. Spread the word about your startup and generate leads. You can get membership of different trade associations and chambers of commerce.
Step 17: Brand identity
Develop a strong brand identity that reflects your values, expertise, and unique selling propositions. Design a compelling logo, website, and marketing materials that makes your software house look more professional.
Step 18: Build a professional website
Working in the software industry and ignoring your own web presence portrays a message that you are not serious in the business. Spend some time making your website usable, attractive, and engaging. Exhibit your expertise with the help of portfolio or past work, industries covered, and client reviews. Clearly mention your services along with contact details.]
Step 19: Digital marketing strategies
Plan digital marketing of your software firm to make sure you get clients from multiple sources. Include different mediums to your digital strategy. Such as Content Marketing, SEO, Social Media Marketing and advertising. Trying conventional media like newspaper, pamphlets, and flyers is also useful. To reach out to the corporate circles, you can pay for ads in corporate newspapers and magazines. They have country wide circulation.
Step 20: Industry presence
Actively participate in relevant online forums, communities, and social media groups. Do engage with industry professionals, share insights, and build credibility. Get registered with the relevant bodies and influencers.
Step 21: Provide Exceptional Services
Understand client requirements and expectations thoroughly. Communicate effectively, provide regular updates, and promptly address any concerns or issues.
Step 22: Follow a Software development process:
Follow industry best practices. Adopt advanced methodologies for software development (such as Agile or DevOps). Incorporate quality assurance processes to ensure best quality software solutions.
Step 23: Continue improvement:
Gather client feedback and evaluate project outcomes. Continuously improve your services based on lessons learned. Stay updated with emerging technologies. Keep an eye on industry trends and fulfill customer demands.
Step 24: Pursue professional development:
Encourage your team members to enhance their skills and knowledge. Arrange training programs, certifications, workshops, or industry conferences.
Step 25: Carry research and innovate
Foster a culture of innovation and encourage research and development activities to stay abreast of emerging technologies and industry advancements.
Step 26: Collaboration and knowledge sharing
Encourage collaboration among team members, share knowledge, and promote a learning environment within your software house.
Remember that opening a software house is a journey that requires continuous effort, adaptability, and a customer-centric approach. By following these steps, you can lay a strong foundation for your software house in Pakistan and position yourself for success in the dynamic software industry.