Friday, May 8, 2009

Fortune 5,000,000

I had the opportunity to watch a video of a speaker at "The Startup School". His name was David Heinemeier Hansson. I had never heard of him either, but he is a successful entrepeneur who has created multipe successful (read profitable) tech products. In this presentation he was talking about the concept of the fortune 5,000,000. In a subscription model, he was talking about getting all of 40 customers paying 40 dollars a month for 12 months and you have a million dollar business.

40 customers! Let that sink in. Think of the number of 1, 2, and 3 person shops out there that are not going to be spending millions of dollars on products. Think of the niche's out there you could sell to. This follows on my comments about not having to go all in but starting a business slowly. How about this, what idea can you think of that could help a small business starting up?

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