Develop a New Billion Dollar Business Better than a Billionaire!
Good morning, Live Better than a Billionaire-a-Holics!
Are you feeling motivated this morning? I certainly hope so. I know that I am!
I am going to lay out this subject in its simplest form. I invite you to add your questions as comments to this post. I will answer each one below so that others can gain from the same information.
Most billionaires don't try to launch their own new billion dollar businesses. Rather, they are more likely to invest in venture capital funds seeking high rates of appreciation. The odds are that of 30 businesses they invest in, 27 will never be worth much. Three will have some significant value . . . and none of them will become a billion dollar business.
Here's a typical situation:
The CEO of a start-up workstation company proudly displayed his products and business projections. An engineering consultant had validated the technical superiority of the company’s offerings. All would be well . . . if only another $30 million in capital could be raised to ramp up production.
A year later the company was out of business. Despite the company’s satisfaction with its offerings, not a single customer ever bought one of the company’s workstations. Investors were as unimpressed as the customers. The assets were sold off for two cents on the dollar.
Having met many successful and unsuccessful entrepreneurs, I am constantly reminded that entrepreneurs may have more optimism than good ideas. Most entrepreneurs emphasize one potential customer advantage in their approach. Their approach falters when the company cannot deliver that advantage, customers are unimpressed or a competitor eliminates the entrepreneur’s edge.
Here’s a better approach for the 21st century: Create the right three 2,000 percent solutions and you’ll soon have a business worth over a billion even if you are starting with limited resources.
1. A way to increase the size of the market by 20 times by improving benefits and/or reducing prices;
2. Reduce the company and stakeholder costs to create and use the offering by 95% and invest some of the savings into more benefits not offered by competitors for customers and other stakeholders; and
3. Accelerate recruitment of new customers to 20 times the best rate of any competitors.
On the surface, that sounds like three times the work of creating one 2,000 percent solution. That’s right. But because the benefits multiply against each dimension, the effect is to increase profits by 800,000 percent over a conventional competitor. That’s worth three times the effort.
To make this process easier, I have decided to create The Billionaire Entrepreneurs’ Master Mind beginning in 2006.
Members will develop new business models that combine the three essential 2,000 percent solutions into their business models. In doing this, they will be supported by their fellow entrepreneurs in the Master Mind and by me.
Each member will receive these benefits:
1. Detailed directions, examples and coaching for how to create these three 2,000 percent solutions.
2. Weekly tele-seminars exploring the creation of superior business models built from these three 2,000 percent solutions and how to implement them.
3. Introductions to fellow master mind members with complementary interests and talents to pursue joint ventures and other collaborations.
4. Publicity about their ventures and introductions to investors where those benefits are desired and appropriate.
5. Twice a year evaluations of business models and plans.
6. The option to exclude potential competitors from the master mind while in the group.
The charge for these services will be one annual fee that covers membership for up to 12 months.
All staff services for the master mind will be provided by me. I am co-author of The 2,000 Percent Solution, The 2,000 Percent Solution Workbook, The Irresistible Growth Enterprise, The Ultimate Competitive Advantage and the forthcoming The 2,000 Percent Squared Solution.
Applications for membership are now being accepted. Contact me at ultimatecompetitiveadvantage@yahoo.com for more information. Label your e-mail's subject as I Want to Build a Billion Dollar Business.
Could a billionaire do better? I sincerely doubt it.
When was the last time a billionaire created three 2,000 percent solutions in one business? I cannot remember it has been so long.
N.B. As you can tell, I'm experimenting with color. Let me know what you like and what I should change about my use of color.
Please let me know what else you would like to learn, and I'll do my best to help in future blog entries.
Here are some upcoming subjects:
On Friday, I will share with you about how to be a master of accomplishment . . . to give you confidence to take on daunting tasks that inspire you!
Saturday, let's look at inexpensive, fun ways to decorate your home and yard for Christmas.
On Sunday, let's experience the peace of meditation.
Monday, we'll look at free teleseminars as a way to gain valuable knowledge.
On Tuesday, you and I will look at how asking the right questions can open up the path to living your dreams.
August 31 was the most frequently read blog entry to date. Be sure to check it out!
Thanks so much for your support of this blog. I'm delighted that so many tens of thousands of people have made this blog part of their regular reading habit!
If you like this blog, please let others know who might also enjoy it. E-mailing your favorite post to them is a great idea.
Check out the latest index at http://livebetterthanabillionaireon5dollars.blogspot.com/2005/12/latest-table-of-contents-to-this-blogs.html to pick out your choice.
Thank you to my many friends, students, clients and blog readers who are spreading the good word about this blog.
If you are visiting today because someone invited you, I'm delighted to meet you! Let's stay in touch.
Remember to also visit
Live Spiritually Better than a Billionaire at http://livespirituallybetterthanabillionaire.blogspot.com/,
Be More Successful than a Billionaire at http://bemoresuccessfulthanabillionaire.blogspot.com/,
http://2000percentsolutions.blogspot.com/,
Enjoy Mansions Better than a Billionaire at http://enjoymansionsbetterthanabillionaire.blogspot.com/,
Enjoy Football Better than a Billionaire at http://enjoyfootballbetterthanabillionaire.blogspot.com/ and
Be a World Hero Better than a Billionaire at http://beaworldherobetterthanabillionaire.blogspot.com/.
I offer individual on-line tutorials and in-person seminars on living better than a billionaire on five dollars extra a day, creating 2,000 percent solutions (20 times the results with the same effort), developing more profitable business models and designing strategies that work regardless of the business environment. For information, contact me at ultimatecompetitiveadvantage@yahoo.com.
I am available to you as a speaker on these subjects. You can find my background at http://livebetterthanabillionaireon5dollars.blogspot.com/2005_08_30_livebetterthanabillionaireon5dollars_archive.html/.
May God bless you. Merry Christmas!
Donald W. Mitchell, Your Dream Concierge
Copyright 2005 Donald W. Mitchell
posted by Donald Mitchell @ 9:43 AM
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