I don't understand why people are so opposed to starting a bootstrapped consulting company. You can start as a single man shop and then hire people and expand.
I'm running a consultancy in a LCOL area. Last year we made 400k revenue, 150k profit and 40% growth. We already have verbal agreements for around 400k worth of sales for this year. We have the employees for 600k revenue and if we manage to bring in more sales we can grow the team to meet demand. 600k revenue would mean 250k profit for us.
I can easily see us growing the company to a few million revenue in the coming years. Making lots of profit while having the option of selling the company for a lot of money if a nice offer comes along. Sure it won't be making me a billionaire, but I can easily see myself building generational wealth here.
My country has public tax records for all companies over 250k revenue. The story is very often with product companies that they have burnt 2, 5, 10 million to achieve 2-3m ARR while still making a loss.
I'm running a consultancy in a LCOL area. Last year we made 400k revenue, 150k profit and 40% growth. We already have verbal agreements for around 400k worth of sales for this year. We have the employees for 600k revenue and if we manage to bring in more sales we can grow the team to meet demand. 600k revenue would mean 250k profit for us.
I can easily see us growing the company to a few million revenue in the coming years. Making lots of profit while having the option of selling the company for a lot of money if a nice offer comes along. Sure it won't be making me a billionaire, but I can easily see myself building generational wealth here.
My country has public tax records for all companies over 250k revenue. The story is very often with product companies that they have burnt 2, 5, 10 million to achieve 2-3m ARR while still making a loss.