How do you build a billion dollar business?
A question lots of entrepreneurs ask.
When companies enter a new growth stage, they must essentially become a new organization. The things that made it successful at the beginning may not be the same things to successfully take the organisation to the next stage.
In this episode, we delve into the different stages of building a billion dollar business. What to focus on at each level, and the challenges business owners face at each level.
Building a billion dollar business is definitely hard work but it is possible. By breaking the journey into stages, the process becomes more comprehensible and attainable.
IN THIS EPISODE, YOU’LL FIND OUT…
- Stages you go through in building a $1B company (6:00)
- It’s not a linear process (6:22)
- Fear of progress (11:30)
- Just building a business is exciting enough (13:00)
- Switching your thought process to protectionism (16:50)
- Where focus goes, energy flows (17:55)
- ($0 to $1 million): Prove the Idea (21:33)
- ($1million to $3million): Prove the product (22:33)
- What is it that the clients really need? (24:00)
- Narrowing down your product before scaling (24:48)
- ($3 million to 10 million): Proving the market (25:09)
- Six human needs (30:11)
- How to grow and level up (33:00)
- ($10 million to $30 million): Prove the business model (35:00)
- ($30 million to $100 million): Prove the vision (38:38)
- ($100 million to $300 million): Prove the industry (40:05)
- ($300 million to 1 billion): Prove the company (41:15)
- The Climb: How to Build a Billion Dollar Company by Tien Tzuo
- The Virgin Group
- The 4-Hour Work Week
- How to Build a $100 Million Dollar Business
- Scaling Up by Verne Harnish
- Do you need to feel significant? By Tony Robbins
WHERE YOU CAN FIND US
Like this episode? Have a topics that you would like us to discuss? We’d love to hear your feedback and comments. Let us know by leaving a comment below.