Reply to Forget about 6 figures, how did you made your first 7 figures?

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[quote=Anonymous][quote=Anonymous]

Op here. Thanks! I'm in I.T, a decent programmer but by no means great. Some companies do fight over me sometimes and I leverage that to my advantage, but again, I've reached my glass ceiling at $600k.

Thought about a Software company like another poster mentioned with low recurring costs, I just have no idea what type of software I can write and I lack the connection to Sales/Marketing guys to make it happen.  I guess time to start work on it, only 14 years left before I reach 50!

[/quote]

That's really good for IT. I'm guessing your a CTO or software dev manager.

Usually you need to go really big (think any of the major Silicon Valley companies) or niche. For example, software to manage hair salons (as a web-based solution), like client appointments, scheduling stylist, payroll, etc. That type of customer has the need, but not the $$ to build an in-house solution. You design a system specific to how they work (like allowing double-bookings since you can do a cut for one person while doing a color on another), then sell it for $500-1k/month or whatever. There are numerous salons out there, all in need of this. Once you sign up a customer, it's nice recurring revenue, and your cost to service them is nearly $0. Get 500 salons and you're already in the 7 figures easily.

Just an example.. you get the idea I think...[/quote]

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