Seven Secrets of Billion Dollar Companies – Blueprint to a Billion Entrepreneur Version
The Blueprint Growth Institute. This is the institute borne from David G. Thomson’s book profiling billion-dollar businesses. But not just any billion-dollar businesses: Ones that got there better and faster than others.
Below we highlight the seven keys to success espoused by the most successful billion-dollar companies studied by Thomson.
Essential #1 Create and Sustain a Breakthrough Value Proposition
– Are we solving a compelling, unmet need (emotional, financial)? Are we providing value to the industry as well (streamlining, etc.)?
Essential #2 Exploit a High-Growth Market
– Is this market growing at a compounding annual growth rate? Are there few actual competitors because our product is so distinctive?
Essential #3 Marquee Customers Shape the Revenue Powerhouse
– Do we partner with our best customers, shaping our current and future offerings around their feedback? Involving them in many aspects of our business?
Essential #4 Leverage Big Brother Alliances
– Are we making friends in high places (with bigger companies) that have a measurable impact on our revenue / finances?
Essential #5 Become the Masters of Exponential Returns
– Are we setting financial goals, and consistently exceeding them?
Essential #6 The Management Team: Inside-Outside Leadership
– Company facing / Externally facing leadership at the C level.
Essential #7 The Board of Directors: Comprised of Essentials Experts
– Are there CEOs of other billion-dollar companies + alliance partners? Here’s how one company did it. It’s an equation, with some basic business tips strewn throughout.
- What are your thoughts on the seven essentials? Is it too much effort? Does it seem reasonable? Do you think anything is missing?
- More: See the free EITC Curriculum, Module 3 (Section on Writing a Business Plan). What section(s) would incorporate the information seven essentials? Discuss.
Related Links (Advanced)
Know a Young Entrepreneur? Have them apply for a scholarship here. EITC: Three free PPTs to teach entrepreneurs. Click here. The NFIB Young Entrepreneur Foundation is a 501(c)(3) organization promoting the importance of small business and free enterprise to the nation’s youth. More information is available at www.NFIB.com/YEF. The Foundation is associated with the National Federation of Independent Business; NFIB is the nation’s leading small business association, with offices in Washington, D.C. and all 50 state capitals.
Entrepreneur In The Classroom. The NFIB Young Entrepreneur Foundation Entrepreneur-in-the-Classroom (EITC) supplemental curriculum exposes students to entrepreneurship and the necessary steps to take an idea and turn it into a business. The free curriculum can be integrated into classes teaching a variety of subjects including music, art, fashion, business and many more. You must be registered to view the full Entrepreneur-in-the-Classroom curriculum.
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