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Business Model Development: How to determine if software licensing is profitable or feasible? Suggestions on how to prospect for leads?
WJ
WJ
Willis Jackson answered:

I mentor startups on the application of product management processes to help them make better decisions.

Before you try to do sales analysis and forecasting, you need to find out if your potential licensees see value in using your solution. The best way to do this is to talk to some of their product managers and find out what challenges they face. Are they struggling to differentiate with their competitors? Are they getting lots of complaints or requests for improved visualizations in their product?

Once you understand their situation as they view it, you can explore to see if your solution is valuable to them by solving one of their big problems. At the point where you understand the value to your potential licensees, you can start to test pricing.

Let me know if you need more help here. Cheers and good luck.

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