Lessons Learned From Delivering 9-Figure Solutions: Discovering Opportunities
I have delivered 3 products that generate $100M in annual recurring revenue. 2 are model-based, and the third is a traditional software solution. High-return projects have fundamental differences. In this series, I will share what I have learned.
The first challenge is finding opportunities with $100M+ potential. SMEs with less than $1B in annual revenue often see these projects as too big, complex, or out of reach. Technology, especially data science, levels the playing field allowing SMEs to compete directly with large businesses.
I delivered my first high-value project for a company making about $650M per year at the time. It generated $105M in its first year and ran around that level for 3 years before starting a slow decline in returns. We delivered it to market with a team of 30 people, and the total budget was about $5M.
The opportunities are accessible to any sized company, so the conventional wisdom that big wins are for big businesses no longer holds. Remove the self-imposed limitations.