Should I change our Business Model?

I am developing and selling Timesheet Software for the past 4 years. I am targeting Start-ups for selling this Timesheet as I believe that Timesheet Software is necessary for Start-ups.

Right now I am focusing on selling the web timesheet software with source code. But it seems the cloud Timesheet companies are more successful than ours.

Whether I need to change my focus to start my own cloud based timesheet subscription services instead of selling the source code?

 

Maybe you need to look at your USP, unique selling proposition. What makes your software superior to the cloud-based solutions? Perhaps there is tighter security associated with a software offering over a cloud offering that might set your software apart. Perhaps a USP is that by owning the code, the company isn't reliant on someone else's server/server uptime, which could be something you could highlight as a USP. So, you could look at it as a if you don't want to join the cloud guys, beat them with better features kind of scenario. If you don't feel there are USPs that could really set you above cloud-based operators and you're really bleeding potential customers to them, then you might have to consider creating a cloud-based solution. Perhaps in that scenario you can offer both. The software solution then becomes defined by the cloud-based solution and vice-versa, which could get you clients either way as they mull over the pros and cons of each.

 

The short answer is yes.

Large business don't want to make an upfront capital purchase for a new system that they'll need to host. If you can charge a small monthly fee that they'll end up paying forever then you'll be much better off.

I don't know what your software price is, but if it's low enough, you many consider having a free tier, where businesses with 5 or fewer workers could use the software for free.

 

Well, what are the benefits for using your software? And why start ups? Generally what I know start ups are tight on their budgets.
And if they can find free alternatives, they may use the free options.