I declare (!) a major success as 10x in dollars the number of hours put into developing the solution for this project.
First, what is a major success?
Limited to lifetime revenue, I declare (!) a major success as 10x in dollars the number of hours put into developing the solution for this project*.
The simplistic 4 quarter sketch above shows a perfect product working automated and effortless (ha!) at the end of 2018 after 2,500 hours of effort.
A major success, therefore, sits at $25,000.
Let’s find the time frame to hit that with M&W’s 2 shops.
After subtracting 2018’s number from above ($1,500), it takes a little over 5 years to become a major success.
If I can make the sale to their major peer in the field — and I did this before to companies with revenue in the billions — this time frame drops, and the tool becomes a major success in under two years.
Hmmm. Yeah, that sale ‘s worth pursuing after delivering to M&W and giving them a competitive advantage for 6 months.
What about an exit?
*This is my definition for this project. Other projects of mine have different definitions. Please create and use your own rather than complain about or debate the validity of mine.