Well, if you only cater to institutions, you may be a big player not looking for too much work. For example, I once approached a tech company to write me code for share-trading based on an algorithm. If they provided me a lakhs of others like me who wish to benefit off the share - market a code, it would have been a service and decent cash would have also been generated. However, no! This particular company, though it had the best of PHD's and were exactly what I was looking for would only write code for institutional clients. Well, you have two choices from my talk. Cater to the public at large or target institutional clients.