A successful founder once brought my attention to the value multipliers of two companies: Apple and Accenture. Apple has a product, and it’s easily scalable, Accenture has consultants and relies on staff to scale. Apple’s multiplier is much higher than Accenture’s.
I run a software agency and work with companies to develop systems.
The software I build includes bespoke applications that interact with hardware, mobile apps, web apps, websites, and e-commerce solutions.
In this business model, I sell my time, as well as that of contractors, in exchange for an hourly rate. Just like Accenture. That’s great and it’s amazing to be able to help others with my skillset. However, this kind of work will never make one wealthy.
Therefore, I also work on side projects that, in theory, can scale. I have spent the last six years building, but I never focused on marketing and distribution. I thought that once a product was good enough, it would sell itself.
I now realise how foolish this assumption was and understand that distribution is more important than the product.
Think of Slack, Salesforce, or MS Teams. These are by no means great products, but they have amazing distribution and thus win.
Market more, develop less.
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