How To Become a Billionaire (Revistited)

Ah, one of my favorite topics, going against "the gods," and stretching for ten figures.

1) Your  product itself needs to be viral.  Your product needs to be so good your customers talk, demonstrate, and explain the need for it.  If your product helps your customers with a human or business need, this is a plus.  If there isn't competition now, there will be before long.

2) GHM.  Look into growth hacker marketing (GHM).  Back to your good product; Your customers need to talk about it, and the growth of your sales needs to be "built in." There are a lot of GHM ideas available online.  Programming is a part of GHM, so learn the appropriate language, or hire a programmer who gets GHM.

3) Talk to your customers and target customers.  Go where your customers go and get an idea of their lifestyle, demographics, etc.  Tailor your pitch, advertising, and site design based on what you learn.

4) Remember "so you can."  Buy this device, so you can have 10,000 songs in your pocket (like Apple). Get this product, so you can x.   Try this and see how it works. (H/t Frank Kern).

5) Fortunes have been built in technology, as you know.  But the failure rate is high...keep this in mind.  Brian Tracy says to be prepared to climb from peak to peak.  In my estimation, I'd say this is good conditioning.

6) Let's switch to finance.  There are large numbers of hedge funds, and private equity firms.  But some of the said entrepreneurs can hit a 10 figure net worth.  One question to ask is: how are and how might hedge funds innovate in the future.

7) I'd say it's a plus if your business has a global reach.

8) Find out what your customers, your target customers, and your competitors customers need and want.  Try to find out what they will want in the near future.  Don't overlook businesses, and government(s) as customers.  Look to have at least one significant trend at your back.  Identify this trend when or before you begin your feasibility, and market research.

9) As it is written, "work on your business, not in your business." This means you use technology, contractors, temps, and employees to do day to day tasks.  Avoid high-tech and well credentialed hoodlums.  You want positive people who share your vision and who get results.

10)  Lastly, let's look at ethics.  Be sure you are being honest and fair with everyone involved with your firm (stakeholders).

Are you overwhelmed?  The learning never stops.  Whether you insist on a billion dollars, or maybe enough to see the world, come check out www.renegadeuniversity.net Take a look in the bookstore for titles on GHM, and other vital reads.