In an interview, bestsellilng author MJ DeMarco (“The Millionaire Fastlane”) was asked if he was starting over again what would he do? What was his answer? He would start a software company!
In Marc Andreessen’s infamous article; “Why Software Is Eating The World” several points are made:
(Remember that this article was written in 2011)
- My own theory is that we are in the middle of a dramatic and broad technological and economic shift in which software companies are poised to take over large swathes of the economy.”
- “Over the next 10 years, I expect many more industries to be disrupted by software…”
- “…the technology required to transform industries through software finally works and can be widely delivered at global scale…”
- “the cost of a customer running a basic Internet application was approximately $150,000 a month. Running that same application today in Amazon’s cloud costs about $1,500 a month.”
- “Today, the world’s largest bookseller, Amazon, is a software company—its core capability is its amazing software engine for selling virtually everything online, no retail stores necessary.”
- “The days when a car aficionado could repair his or her own car are long past, due primarily to the high software content.”
- ” Over the next 10 years, the battles between incumbents and software-powered insurgents will be epic. Joseph Schumpeter, the economist who coined the term “creative destruction,” would be proud.”
Now I bring up the power of software because entrepreneurs often look at it as the panacea for earning money online. This is especially true when it comes to deploying software for income generation through SasS.
What is SaaS?
Software as a service is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. It is sometimes referred to as “on-demand software”, and was formerly referred to as “software plus services” by Microsoft.
Disadvantages of SaaS
Though using software as a service looks to be a very viable option for most of the businesses, there are some downsides too which need to be considered.
Here are some of the cons of the SaaS model:
Insufficient Data Security
This is one of the top concerns for companies who are looking to opt for a SaaS-based application model. Issues such as identity and access management need to be addressed before trusting any third party service provide with your company’s sensitive data. Particularly in the case of accessibility from a mobile device, strict measures need to be taken before any kind of sensitive data is divulged to the service provider.
Difficulty with Regulations Compliance
When business critical data is stored in the service provider’s data center, it is difficult to comply with the government’s data protection regulations.
Cumbersome Data Mobility
Many SaaS startups do not have enough experience to survive in a highly competitive atmosphere. In case of a failure or in an event where you want to change your software engineer or service provider, it becomes a cumbersome task to transfer your client’s critical data from one service provider to another.
Low Performance
A browser-based application running on a remote data center may lack in performance when compared to a similar application running from yourclient’s desktop. You might need to invest in a fast and reliable internet connection to negate this factor and also use tools for application performance management. This can drive up costs for supplying this service to your client.
Troublesome Software Integration
When working with an external SaaS service provider to host multiple apps, there might be an integration problem with the existing in-house software. The in-house APIs and data structures might not integrate properly with the external software. As a result, you should always perform compatibility checks with all SaaS applications for better results.
Brokering SaaS is Tricky!
Remember, you are a broker in this scenario without a critical understanding of coding and/or software design. This puts you at the mercy of the coders you choose. And very often coders will drop the ball mid-project requiring you to restart and find another programmer. This can turn into a nightmare scenario.
Add to these issues the fact that as a single operated business owner you may be unable to find (or trust) a coder to work within your budget. Some entrepreneurs will suggest making the software coder a partner in your business in order to get the best working relationship. But if you like the idea of being a sole business owner this may not work for you.
A single operated newsletter may be the perfect alternative for you.
A Single Operated Newsletter is the perfect business to start during the pandemic lockdown.
Your ability to reach almost anyone on the planet with a Single Operated Newsletter.
Despite all of the social media hype, more sales transactions are still being done via email. This makes a Single Operated Newsletter the best vehicle for your online wealth creation.
A Single Operated Newsletter is cheap. But the ROI can be astounding!
A Single Operated Newsletter is easy to track.
A Single Operated Newsletter lets you track your best customers and prospects, to focus on your marketing on them.
A Single Operated Newsletter can be set to run on auto-pilot giving you the ability to truly earn passive income.
Installing digital tools into your Single Operated Newsletter makes it a better resource for consumption and sales conversion.
Why is a Single Operated Newsletter the new way to create financial freedom online?
1 – You can create a subscription base without becoming a social media influencer.
2 – You can control the platform something you can not do with YouTube, Facebook, and yes, even Instagram.
3 – You can get paid directly for the content provided to your readers. This eliminates the possibility of getting knocked off the big platforms.
Many people, often older, are still having trouble believing and accepting that a person of average intelligence can generate a salary on their own through a Single Operated Newsletter.
This is where PaidLetter comes in with their CENTS model.
What is the CENTS model?
Popularized by MJ DeMarco, writer of “The Millionaire Fastlane,” the C.E.N.T.S. approach to entrepreneurship means:
C – Control – to create the true financial freedom you must control the “product”.
E – Entry – or more properly put: “create a barrier to entry”. This is sometimes called a moat! The software gives you a license but a single operated newsletter provides you with a database of subscribers that becomes your moat!
N – Need – You must create the content that your readers will eagerly pay to access.
T – Time – As Tim Ferriss so aptly described in The 4-Hour Workweek you must find a muse that will allow you to separate your time from your income (again, where PaidLetter.Com is invaluable).
S – Scale – Many physical product entrepreneurs are learning hard lessons about the complexity of importing, warehousing, and shipping. And the high costs associated with them.
Next Steps
If you want to discover how a Single Operated Newsletter could change your financial lifestyle choose a link below for more information:
Get your Free week of the single operated newsletter that our clients pay to read.