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I don't know the exact quote but Warren Buffet has explained before that there are a lot of great investments you can make if you have thousands or millions of
by programminggeek 13y ago
I don't know the exact quote but Warren Buffet has explained before that there are a lot of great investments you can make if you have thousands or millions of dollars to invest, but once you start getting into the billions, it's a lot harder to get that same return.
In my own experience, almost anyone can make hundreds of dollars, It's not super difficult to make thousands, but as a single person, scaling into the 6 or 7 figures usually requires working/partnering/networking with other people. A lemonade stand or a bake sale or yard sale is natually limited by location for example.
Another relevant example is Bingo Card Creator. You could argue that Patrick has just about maxed out what is possible to make selling bingo card software on the internet. It is no surprise that his second product Appointment Reminder has a much higher ceiling and I'm guessing that it makes a lot more than BCC does by now.
No matter how much effort Patrick put into BCC, getting past 100k a year would be a festivus miracle. Appointment Reminder could very reasonably hit 7 figures, but 8 figures would probably require a full on sales force, support staff, etc. and even then it would be a real push.