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just a friendly reminder that you do not need to build a billion dollar startup to achieve wealth & status. sometimes building something that makes 1-2mn a yea
by KareemAbukhadra 6y ago
just a friendly reminder that you do not need to build a billion dollar startup to achieve wealth & status.
sometimes building something that makes 1-2mn a year is the right move.
- garry 6y agoI made this video and agree with this comment! Not everyone needs to make a billion dollar startup.
- quickthrower2 6y ago100k/y is probably enough for a lot of people too!
- person_of_color 6y agoWhat are multimillion dollar ideas?
- KareemAbukhadra 6y agomany more exist IMO and biz model is much more proven
- quickthrower2 6y agoWhat isn't? A small chain of bars, for example.
- ineedasername 6y agoBuy a popular franchise. McDonalds net profit is estimated around $150,000 per year. That's after any reasonable salary you are also paying yourself. Based on typical margins, that alone, in gross revenue, is > $1,000,000/year.
- person_of_color 6y agoI want multimillion profits not revenue
- riku_iki 6y ago1-2mn is likely much more fragile source of income in a long term comparing to capital acquired from successful unicorn.
- KareemAbukhadra 6y agoeh. not necessarily.
- ineedasername 6y agoSure, but that's a bit like saying "if you have a job, you could lose it. But if you win the lottery you're pretty much set"
- riku_iki 6y agoIt is not about level of income, but about long term sustainability, which I believe should be main goal. Small business is fragile endeavor, comparing to both regular employment and scaling small business to larger one with higher resistance to risks.
- ineedasername 6y agoSure, but if stability is your goal, you're much more likely to find stability by attempting to create a small business than by attempting to create billion dollar business. My suspicion is that a person who is constantly chasing a billion dollar business is going to have to make a lot more hops than someone chasing a more modest goal. This is not a recommendation to avoid those billion dollar goals, just an observation on relative probabilities, and what is an appropriate target if your goal is stability.