How To Create a Billion Dollar Company
Contents
Characteristics of a Billion Dollar Company
Recently I have been looking at some of the worlds most success billionaires such as Bill Gates, Richard Branson and Steve Jobs. Although only being 21 years old, I often feel like I’m not achieving as much as I really can, I look at other people who at my age are so much further ahead – sure in some respects I had to come further as I didn’t give a thought in the world to my education till a year after I had done my exams.
They Are The Best At What They Do
Look at Google, we use it because it gives us the results we are looking for quicker than any other search engine, the same applies to Facebook, we use it as it’s the most user friendly and has all our friends in one place. These are prime examples of businesses that just do it better than anyone else, and that is what you have got to do. Whether you are selling online toiletries or you are starting your own social network, it doesn’t matter, what does matter is that the business you own or run is working at full capacity with everything done the absolute best it can be done. Just try your hardest.
They Go For Mass Markets
No one has ever become a billionaire by targeting a small market, all the top companies have mass appeal such as Microsoft who’s aim is to have a computer in every house hold. Having said this, I do believe the best way to approach going to a mass market is starting small and being known for doing one thing great, like Zappos did. They sold only shoes when they started and once they became the worlds leader at selling shoes online, they branched out and started selling clothing and then later a whole lot of other things – that company later sold for $1,300,000,000!
They Use Their Time Wisely
Bill Gates wouldn’t go on Twitter and bitch about how his iPhone is broken or how one of his employees is an idiot, that would be a complete waste of time. Doing some quick maths I worked out that while working for Microsoft he would of made around $630,000 a hour so if he was to spend so much time like us just complaining and giving excuses then he would be a lot poorer. Time is money, it’s a phrase thrown around a lot but it is seriously true, think of it this way, how much do you think you are worth? $5 per hour? $10 dollars? How about $100 per hour and more? Are you really doing as much work as you think you are? Or more importantly are you using your time to do those things as best you can?
They Are Not Scared To Work Hard
The internet has made it easy for some us to work only a small amount of time a day and still be able to make more than enough to support ourselves (take me for example) – however if you want to be a billionaire, you need to work really hard, that means late nights, grafting all the time and no submission. You have really got to work at it around the clock whether you are part of a team or you are the team, the only way to become successful is to do things, and take action, how can you become successful if you are not prepared to work hard? Another thing is to believe in yourself because you will get many doubters and that’s okay, they are entitled to their opinion, you just need to work like crazy to become successful and to basically prove the doubters wrong.
High Profit Margins
Profit margins are something of a daunting area to get involved in, but basically the more the margin in profit the more money these billionaires make, which is why it is essential for them to have the best marketing and advertising campaign, the best quality in products and the best branding they can achieve because this all helps the sales. Imagine if Apple had just had a small advertising campaign and they had poor quality control issues, the profits would be non-existent, however because of the sheer volume of sales for Apple products (on most levels) and the high quality of the product, the money made is very substantial, however because they are a big company they can leverage getting the best deal for their raw materials and this means high profits.
They buy low and sell high so the profit Are Large
Sticking with the above example the larger the company is the more weight they can put behind them to get the best deals for their products and services, smaller businesses do use this method too, although it is usually on a lot smaller scale and usually depends on them buying a minimum amount of materials. The more bulk materials you buy the more items can be made for a lot less, the more items that are made for little the higher the profit margin, and the higher the profit margin, the deeper their pockets become. This isn’t to say that you too cannot get in on this technique you just need to build rapport with your supplier and use as much leverage as you can, whether that leverage is the length of time you have been a valued customer, how many people you send to them or whatever else you can think of.
They Take Risks
Bill Gates, Richard Branson, Larry Page, Mark Zuckerberg and Henry Ford all have two things in common, they all dropped out of college, and they all became successful. In fact they become amongst the most successful people in the world and how did they manage it? They took risks, imagine where the world would be now if Bill Gates hadn’t started up his own software business? What would the world be like now if Henry Ford hadn’t built some of the first drivable vehicles in the world? What about if Richard Branson hadn’t started his own record label early in his career? The world would be a much less interesting place to be I think. The point is that they all took risks, and a couple of them still are taking risks. It’s like the SAS motto reads “He who dares, wins.” This saying is very true, do nothing, there will be nothing, no results, no money nothing. Try your hardest, and take some risks and you could see yourself end up successful.
Want To Make Money Every Time You Send An Email?
On this page, you’ll discover how to convert more leads with email autoresponders. If you’ve spent your online career listening to tha gurus… these emails will challenge you, inspire you, probably even PISS YOU OFF…
Get More Emails With PopUp Domination
Join over 23,000 customers who have seen their subscriber rate grow by up to 500%… overnight!
Read Next
-
7 Ways To Build Credibility As A Young Entrepreneur -
Why Your Email Subject Lines Suck & What To Do About It -
21 Tips to Make You a Successful 21st Century Entrepreneur -
10 Billion Dollar Companies that Didn’t Start with Business Plans -
10 Ways to Instantly Improve Customer Support -
The Most Successful College Dropouts In History
Comments
"Do Not Write Another Blog Post Until You Watch This Free Video..."
Watch this free video to learn...
- How I got over 10,000,000 people to visit my websites.
- The types of blog post that got me all that traffic.
- How to get someone else to do it for you!
Very true about time management, most entrepreneur will not spend hours and hours doing things that are not productive, they will ensure that every minute of the day is spent well, that’s what most of them complain that there is not enough hours in a day, as they just want to do more more.
You know for a very young man there is a lot of wisdom in your words. You are blessed. I find myself constantly reading internet success stories, and I realize that results are arbitrary. It’s like those companies that sell you on resume reviews. There is no one clear cut way to create the best resume. You must have several resumes nowadays, and you have to make things industry specific. In the same way your blog or internet business has to attract the people you are looking to attract. I also think that if you focus on being a billionaire, you may lose yourself. Keeping my focus to financial freedom seems to keep me sane. “I’m just saying though!”
Too many people think of becoming a billionaire only in terms of those who made their money in the tech/online sectors. There’s actually a better traveled route. That of the deal-maker who makes his fortune over time by wheeling and dealing in assets. I’d say 60 to 70% of all billionaires do it that way.
Awesome post Mike. You just have to take the risk and turn on deaf ears on people who don’t worth to be listen to. Thanks so much for sharing.
Great post Mike. I can say that is very true about taking risks. I remember when I quit my job to do what I love to do. It was scary, but after a while it worked out just fine. They say Fortune Favors The Bold!
Wow this such a great article and the tips are very comprehensive. For sure many entrepreneurs with small and big businesses are going to benefit from this. Keep it up!
I like this post – one glaring point which I believe you have not covered is ‘passion’.
Passion is often the root cause for someone to really make it big – sure there are people who have made it big without passion but they are few – most have worked hard and took all the chances and opportunities because their passion was their fuel to succeed.
All those names that you have mentioned, all had passion which generated belief in their idea – and it is that passion which made them jump over every obstacle that was thrown in their path.
Making big money is not for everyone – it is only for those who think different, who do not want to be part of the rat race, don’t fear in reinventing the wheel again and who dare to dream. These are the people who can revolution any market as long as they have passion and belief in their product or idea.
Very informative. I like this sentence
“believe in yourself because you will get many doubters and that’s okay, they are entitled to their opinion, you just need to work like crazy to become successful and to basically prove the doubters wrong.”
Your analysis is interesting and thought provoking. In addition to the Title of this post, I think: Qualities/Characteristics of a Billion Dollar Company would also sound similar to the concept!
What do you think?
Of course, the easier way is to merge two half-billion dollar companies…
Ilove this post!!!, is Aweson!!.. I´m going to work in mi ideas and practice everything that I read here.
I love the point about taking risks! Without taking risks, you never put enough on the line to fully succeed. Fantastic post. Some very valid points in there.
very true and awesome….
m implementing my idea behind the young blogging n money making online
this are very good tips i love them, one must be very motivated to reach the top! we will be successful!
test
Awesome post man….
I wish my ideas would come true and succeed this well !!
thanks man, grea post.
I used to think the opposite, buy low and sell it a little higher. I used to have a heart f a mom and not of an entrepreneur. I always think after what’s best for the team and not really think of how huge income I can get. But after 4 years of being in the industry I realized for me to make it BIG I should start having a mind like that of the other entrepreneurs out there… And you nail it right when you said Buy Low and Sell High. Will definitely keep coming back to read more of your posts
All success depends on thoughts what you make. google is successful because it serves faster and easy to navigate. Facebook is hit because the concept is excellent.
What a motivational post u made michael, it really gives me that inspiration to stand and make things work. thanks
Its all about Mass Markets. Influence Millions….Make Millions.
As a young entrepenuer I find it awesome that there actually people out there, my age doing what i’m doing. I post everyday on mentioned, facebook and get little to no feedback because every post I make, it has to pertain to money. The instant I post something about something funny or something to do with the mediocre mind of a early adult/teenager my feedback is full.
It just goes to show, that actually putting the thought of “Hey, I can actually become a millionaire by the age of 25. I’m going to do it” is putting us one step ahead of the game. Granted, you have to have action and motivation behind that, we are still one step ahead.
Don’t let your dreams die. Us younger generation are the new Bill Gates and Henry Ford of our time.
Hello Michael,
You’ve just listed all what i got in mind. It amaze me a lot when people don’t want to bear risk and yet they expect success. They is nothing riskier than refusing to take risk. life is all about risk, even if you are idle.
What about plane dumb luck?
MIchael,
It is impressive… when you walk your talk. This post talks about being the best in what you do… or basically do what you love to do the best way possible.
…And I can see… just with a few days of following your posts… How you make every single post about the POST. You don’t make blog posts just for the sake of it… You actually… GIVE extremely high quality value to your audience in each post.
I am not a very technical guy… when it comes to internet marketing… but If I were to learn the technical stuff from somebody.. I would do it from you buddy. I am 28… have been around internet marketing and related niches… for about 6 years… and I can tell you how much I get inspired by your knowledge and commitment to serve.
It is also inspiring… the results you have gotten from a financial point of view doing what you love to do the best you can.
Thank you and Cheers from Florida, USA.
Ricky
One great nugget I learned today from this post is that successful billion dollar companies like facebook and Google all take RISKS. They strategise and implement dreams that ordinary people thought impossible. Just look at facebook and how user-friendly it, I can’t believe the traffic stats is already bigger than the Giant Google.
All the same, thanks for sharing these tips, I’m an avid reader of your posts.
Michael,
Thank you for all your information and your products. I have used them extensively on all my blogs and sell them as well. I believe I have a PRODUCT/IDEA that meets all of the requirements you listed above but I need a young, ambitious, motivated, and smart partner who I can share this idea with. If you are interested could you please email me.
Tripp
u really inspired me to be more productive in my time management , and i like the part they are not scared to work hard.
All billionaires go for the mass market. They solve the problems of majority and work hard for the people who rely and trust them. There are greater risk that we need to consider, but when we cross that confusing road, we must remember that we have to follow the path that leads us to working on our passion.
The best part I like is taking risk. There is no one that will succeed in life without taking risk.
Its risky not to take risk
Sheyi