Now, before you ask me if I am a billionaire, I am throwing out a disclaimer… I was looking at some of my old notes a few days ago when I ran into this piece. I don’t remember exactly where I gleaned it from but it did give me food for thought then, as I think it would you now.
First, create a business that serves a lot of people.
With 1.3 billion people on Facebook, Mark Zuckerberg rings a bell right? And so does Bill Gates, Jack Ma, Jeff Bezos and Nigeria’s Aliko Dangote with their respective businesses that serve so many people.
Next, create 200 reasons why this business will be of value.
Amazon, Walmart and Microsoft are all business that offer value for a wide spectrum of reasons. Things like convenience, ubiquity, speed, accuracy, warmth, control, class, self-service, quality, ambiance, appeal, artificial intelligence, language, emotion and so on…are few of the many reasons customers find these companies exceptionally valuable.
Third, create 200 benefits that you can hone out of the business.
Google and Virgin fit in here perfectly. Both businesses offer over 200 benefits tailored around their respective value propositions in industries as varying as biotechnology and visual arts ; email services and space travel. So make out a list of 200 benefits your business can provide customers.
Finally, create 200 ways to retain liquidity in your company.
This is like saying you should create 200 streams of income for your business. Again Richard Branson’s Virgin is an example that meets this criteria. And so does, Apple, Amazon, Facebook, Microsoft, Alibaba, Zara and the list goes on…
I can’t say the other exogenous and endogenous factors that conspire to help you attain billionaire status…But what I do know, is that it has absolutely nothing to do with merely wanting to be a billionaire like Travie McCoy and Bruno Mars.
It looks like a lot of work!!!