The software market changes every year.

As individuals and enterprises become more willing to buy software, there are new markets for entrepreneurs to sell software to. Good software has high margins and high retention, so even a niche software business can prove profitable.

As software spreads across the world, developing countries are showing a willingness to buy the same software tools as the developed countries, making the niche software businesses even more successful than expected.

It’s a great time to start a software business. But the fundamental challenges faced by an entrepreneur have not gone away. An entrepreneur must find the necessary capital, build an initial product, iterate on that product, market to their audience, sell to their customers, and retain their users.

Hiten Shah is an entrepreneur and investor who has started several businesses, both successful and unsuccessful. His latest company is called FYI which helps you find your documents in three clicks or less. He is also the host of the Startup Chat podcast, a show about strategies and tactics for software businesses. Hiten joins the show to discuss his experience in the software industry, including lessons on financing, product development, and the future of software products.

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