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Thursday, September 20, 2012

Make a lot money


A software developer wrote to me: “I have software skills and want to start a software company that make a lot of money. My dream is to make million dollars or more. Is it possible? Or am I just dreaming? Please advice. 


It is possible to make million or billion dollars today. Many people already did (Think about Steve Jobs, Bill Gates, and Mark Zuckerberg etc.) What you need is understand the market needs and provide what people are willing to pay (Of course, does it legally).

There are more opportunities in the information age than any other time since you can do that on-line. You can learn what other technology companies are doing and borrow their idea and apply it in your country. Copy a successful business model in one country but has not yet been introduced in your country is easy. Many companies in Russia, China, India, Japan etc. are borrowing or copying successful American business, change it to their language and doing very well. 

For example Baidu in China and Yandex in Russia is the same as Google in the U.S. You may look at Qzone, RenRen, Pengyou and Kaixin as the Facebook of China while Vkontake and Odnoklassiniki are another Facebook look alike in Russia. 

Why not look at Facebook, Twitter, Instagram, Match.com, Pandora, Zynga, WordPress, and LinkedIn. And see if you can do the same in your country. Since you are borrowing their “business ideas”, it is not a violation of copyright. If you have the skills, it is your turn to make it happen.
Prof John Vu    
Carnegie Mellon University

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