Quick Change
How fast can you make a million? For these companies, the answer was one year. But who knows? Maybe you could do it in less.
Despite what you may have read in Get Rich Quick! Volume
33, there's no foolproof plan for making $1 million in your
first year. Most start-ups never make that kind of annual revenue
at all. "People are running away from the big splashes,"
says Robert Lattimore, president of CCSBI (Contra Costa Software
Business Incubator), a Concord, California-based incubator for
technology companies. "A year ago, the discussion was macro,
not micro, but now people are interested in consistent growth,
results and profit." But that focus on the long term can yield results in the short
term. Start-ups that stuck to business basics during the dotcom
hysteria of the past few years are now reaping the benefits.
Consider these fledgling firms: - MyPrimeTime Inc. focused on
profitability, not valuation, and grossed more than $1 million in
its first year.
- Shunra Software Ltd. made
more than $1 million despite the fact that it received no outside
funding and was run out of a garage.
- Pacific Coast Reprographics
made more than $1 million while competing against the largest
reprographics conglomerate in the nation.
While these companies' owners all took different paths to
their first million, they share one common thread: an intense focus
on sustainable growth and profitability. Content Continues Below
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