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business consultant? taking my 6 figure business to 7 figures?

by amitcor
2 replies
hello everyone,

I run a Software as a Service site that is going very well and has a lot of potential and i want to take it to the next level and reach the 1M$ in 2012.

we sell mostly B2B online.

could you reccomend a mentor/business coach that actually made it (somebody like eben pagan) and how to reach him?

thanks a lot i appreciate it!
#business #consultant #figure #figures #taking
  • Profile picture of the author Andyhenry
    You want someone who makes their money selling ebooks and coaching to mentor you with your software business?

    I also have a software company and we sell B2B also for 6 figures per sale and I would never have even considered looking to a dating/IM guy for advice on that business.

    One of the biggest things that helped us was Partners and VARs (Value Added Resellers).

    I don't know what your software does so the other aspect is whether you're selling low margin - high volume, or low volume - high margin (This is my model).

    One way you need to ramp up marketing and increase sales and have a smooth and as automated as possible delivery process, the other way you only demo the initial version and then customise to fit the customers work-flow. This also means there is a substantial customisation revenue stream too.

    We sell tailored solutions to big companies so there are 3 separate revenue opportunities:

    1 - the initial sale
    2 - the customisations/consulting
    3 - licensing fees

    We're running 2 pilots right now in one big company that have just over $200k on the up front sale price and will both involved a lot of customisation, workshops for the users and licensing fees, so the resulting revenue will be much higher than the initial sale quote and as they use it more and integrate it into their business the licensing will add a good residual recurring revenue.

    As time goes on the licensing ends up being nice to have on its own, the customisation work is the bulk of the revenue, the sale price is just the front end.

    If you work with VARs then you could even split the model depending on their skills. We have VARs who generate the opportunity and then we split the customisations and license fees with them so that they manage the relationship and just pass us the work that they have quoted for.

    With the right partners you can get a huge pull for your software.

    If you're selling low ticket - high volume then it turns into more of a numbers game and pushing up front sales. It's much more important in this case to have some sort of sales funnel to maximise your customer value and not just rely on recurring up-front sales for your revenue.

    Anyway, good luck with your search, I hope you find what you need.

    Andy
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    • Profile picture of the author amitcor
      thanks for your detailed reply Andyhenry!

      "You want someone who makes their money selling ebooks and coaching to mentor you with your software business?"

      no. I want someone who took a 6 figure business and made it a 7 and 8 figure business who has a lot of experience with marketing and stuf like that.
      that's why i said someone like eben pagan who i think is very sharp and intelligent. as you said he is not selling b2b so he isn't that relevant, but I do want a mentor/coach at his caliber.

      Thanks!
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