How to Build a Billion-Dollar Business

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Most businesses start as small companies that form to solve some specific consumer need. Many billion-dollar businesses, like Apple, Yahoo and Microsoft, began as home businesses started with little money and lofty goals. Any business that meets some common, unmet need has the potential to be a billion-dollar business.

  • Think of an idea that isn't being done or is being done poorly. It should be something that is needed or wanted by multitudes of people. This is the hardest part of starting a billion-dollar business, but it's one of the most important.

  • Team up with great people. Any small business needs a good team of people with a variety of expertise in order to grow into a billion-dollar business. At the very least, the team will require someone who is a master of marketing and someone who can run the business from the inside and position it for growth.

  • Get a huge customer. Yes, this one is tough too, but it takes a big customer to get mainstream recognition. Just one huge customer from the likes of Google, Microsoft or Wal-Mart gives you a huge market advantage. It also establishes your company on the international business scene.

  • Stock your board with major players. The board of your company should be made up of CEOs and stars in the industry. Placing nothing but investors on the board is not conducive to the kind of growth it takes to become a billion-dollar company. People who have had a hand in creating a billion-dollar business in the past are a huge asset to your company and can take you in entirely new directions.

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