I'm in a bit of a unique situation at work and could use some advice. I developed a software application that significantly improves efficiency compared to the existing tool we use. It started out as a way to make my own tasks easier, but my coworkers noticed it and eventually the management caught wind of it too. They loved it so much that they want to buy it from me. The challenging part is—I really dislike coding and don't want to maintain this software in the long run. I have no experience selling software, and I'm not sure how to approach this meeting. What should I be asking for? Should my sale include just the executable, or the source code too? Would a one-time buyout be better than a subscription model? Any guidance would be greatly appreciated!
2 Answers
Wow, it's impressive that you made something that works better and now they're interested in it! If you want to avoid ongoing maintenance, I recommend pushing for a one-time purchase for the source code. This way, you can walk away completely after the sale. For pricing, consider the 70 hours you put in, multiply that by a reasonable hourly rate, and add a bit on top since your solution saves them productivity. They'll likely be saving way more in the long run!
You're right to think about the maintenance aspect. Since you don’t want to deal with updates or support, I'd suggest structuring the deal around a one-time purchase rather than a subscription. For pricing, factor in your hourly wage for the time spent and maybe add some extra for the business value it provides. Make sure you feel comfortable with your negotiation range and don't be afraid to stand your ground!
Thanks for the tips! I appreciate the encouragement.