How to build a multimillion dollar company
How to build CREATE a multimillion-dollar company
Before we take a look at the nitty-gritties of ‘how to build a multimillion dollar company’ let’s take a step back.
Words, as you know, have power – but they have power because of the ENERGY behind them. The energy you put behind them.
Take these simple words: Thank you.
And now take a moment to think back through your life to when someone said those simple words and they TOUCHED YOU. If you were touched then the energy behind the words was deep, connected and real.
Words do not have power – but because words represent how we feel then they inherit our energy. We make words vibrate with power.
“I have a dream” … As many will know Martin Luther King transformed the world that day on August 28, 1963 – with a few simple words. Behind his words swelled the passion of his soul! That is what gave those simple words POWER.
How to create a multimillion-dollar business
Just changing one small word build to create, we create magic.
The word switch may seem small but the energy and impact are massive.
Entrepreneurs see what others do not see
Small changes in focus can have massive impacts.
The trick is always to see what others do not see.
Here’s why you should choose to CREATE a multimillion-dollar company and not build one!
How do you feel when you hear the word BUILD?
Now how do you feel when you hear the word CREATE?
Do you get it now? Your feelings will tell you everything!
Build FEELS like hard work! Create feels like fun! So simple eh!
Creating a business especially with little or no financial capital resources is more than hard work. If your personal energy is weighed down by the feeling that you are building a business rather than creating one – this will make it even more hard work!
If however, you feel you are creating something you feel light and energic. It’s a magical feeling.
I have created over 8 companies from zero.
I know how much work it is – and yet each and every one of the companies that I created did not feel like hard work.
Often I was working over 120 hours a week – 17 to 18 hours a day – but I never seemed to get tired! I was creating!
So now we have got the power of creating a multimillion-dollar business vs building one, how do we actually do it!
First off let us look at the numbers.
Let’s say we are focused on creating a 10 million dollar company. And let’s assume that means having annual revenue of 10 million dollars or more vs. creating a company with 10 millions dollars of capital value.
And let us remember this simple truth:
Small becomes big
So if for example, we sell a product that costs 10$ then to have to sell 1 million of these every year to 1 million people to give us our 10 million dollar revenue.
Alternatively, if we could sell a product for 1000 dollars then we would only need to find 10,000 customers. This is a big difference.
The way we place ourselves in the market place makes a massive difference to the amount of work we have to do and to the future potential size of our company.
Making a decision about initial market placement will determine the initial success and growth of the company.
It will also determine how quickly we can leverage our sales once we get going.
Learning from rivers about leverage, flow, and value for creating large multi-million dollar companies
Rivers are all about flow.
Rivers have three things that influence their volume of flow:
- angle of flow – incline
Increasing any one of these three factors will change the flow volume in a massive way.
It’s all simple maths.
Let’s do some sums!
5m wide by 2m deep = 10m2
10m wide by 2m deep = 20m2
36m wide 6m deep = 216m2
Now let’s add the incline – the speed of flow – how much how often.
5m wide by 2m deep = 10m2 every second = 864,000 m3 per day
5m wide by 2m deep = 10m2 every minute = 14,400 m3 per day
5m wide by 2m deep = 10m2 every hour = 240 m3 per day
5m wide by 2m deep = 10m2 every day = 10 m3 per day
Now compare these to this:
36m wide 6m deep = 216m2 every hour = 5184 m3 per day
As you can see changing a single element of the formula changes the flow volume exponentially.
You can also see the power of small in the numbers above. Even small numbers repeated thousands of times will result in large final volumes.
How you place yourself initially in the market place will determine your potential market reach and future sales volume. It is a very important decision. Read here about how to always make the best decision.
And as can be seen if you want to increase sales you need to increase one or more of these:
- Sales amount
- Sales volume
- Repeat sales time period
When you first create a new business though you have many choices.
For example, let’s say you want to go into the shampoo business:
- You could sell 1 sachet to a billion people
- Or 1 bottle to 10 million people
- Or a pack of 10 bottles to 20,000 people
- Or 1 master franchise to sell your franchise to 10 people in your local city
- Or 1 master franchise to sell your franchise to 10 people in your local country
- Or pre-sell your next production batch to 100,000 people
Each one of the options above will give you different sales results. Choosing the right market place and the right product offering to start off in will determine how fast you can create your multi-million dollar business.
Using your feelings to make a decision will help you decide which is the best choice for you.
Getting the money together to start your multi-million dollar business
The biggest challenge stopping most people from starting a multi-million dollar business is the cash.
It is usually thought that you need a lot of money to start a business.
If you create a list of the things you need to start any business then money should be at the BOTTOM of that list!
If you put money at the top of your list you are limiting yourself.
There are trillions of dollars flowing around the world – there is plenty of money – you just need to find a way to attract some for yourself.
What should be at the top of your list is WHY you want to start your business – you need a BIG WHY. Without strong energy driving you from within, you could run out of energy in a short time.
You need a lot of energy and passion to create a new business. Make sure you know why you want to do this.
You do not need too much money to start a multi-million dollar business
These days if you can create a website you can create a global business – so amazing.
The power of the internet has made it easier than ever to start a global business.
On the first day that I used the world wide web as it was known in its early days – www – I cried! I was touched by the immense power that it would bring to our human civilisation.
I knew it would transform the world. And it has.
My very first business idea failed because it was pre-internet. It was called Lift-Link. Today with even an average website implementation you can create almost any type of business with little or no money.
One way to create a business these days is to use pre-selling. For example, right now I want to buy silver bullion but the website I am using here in the Philippines has no stock!
Once they get enough pre-orders they will buy the stock! This takes all the risk out of their business and on their website they can show a massive catalog attracting new customers.
How I co-created my first business that has grown into a multi-million dollar business.
There is a big story here but for now, I will just share the outline.
I co-created my first real business in 2001 in Christchurch New Zealand.
Masami Sato (my wife at the time) and I got started with just NZ$200!
The business name I etched up was Fast Feast.
You can see in the video below my daughter Myra on Masami’s back in our first shop.
I had a super big why that gave me the energy to not only inspire Masami to start the business right after she had given birth to our first child, but also to create not one, but three businesses over 10 years in three countries.
The final business was called Buy1Give1Free later to be known as Buy1Give1 or simply B1G1.
When we started we had little money seeing Masami and I had just purchased our first home together and we had a 3-month-old baby.
I learned how to buy a business for nothing down from a $50 seminar.
What was next was to awaken Masami’s innate passion to care for others so she would join me on the journey. Then off we went together looking for businesses to buy.
We paid only NZ $2000 for our first business which we financed using vendor finance. Meaning we paid nothing the day we took over the company.
We paid for the business over six months from the cash flow we created in the company!
That first company morphed over 10 years into what became Buy1Give1 which was launched in Australia but then moved to Singapore spurred by my feelings so it could become globally focused.
The beautiful and magical part of this story is that the current success of the company was not because of my effort.
Today that company flourishes beyond my wildest expectations and imagination and has fulfilled my initial dream more than a thousand times over.
The Power of small creating something big
A STRONG word of warning about choosing to create a multi-million dollar business!
It is very easy to become seduced by other people’s ideas when it comes to creating a multi-million dollar business.
Creating any business of any size is a lot of work and will challenge you to your core.
Creating a large multi-million dollar business from nothing is a gargantuan mission.
My strong warning is this: Make sure it’s YOUR dream.
Most do not know their why. And because of this, you can easily be seduced into creating something that is not you.
There’s an over-addiction in many circles to over-create and there are so many false ideas about being successful.
I closed my last company down because of this addiction. I became so fixated on creating a large company that I became blind to the fact it was not something I actually really wanted!
I was becoming stressed and sickly because I lost focus on what I really wanted in life and why I was actually doing what I did.
Over the last five years, I have taken time out of business to discover a new why for myself. I have spent most of that time building an organic paradise which is our new family home.
This is why it is always important to listen to and follow your feelings. They will guide you on your meandering journey through life and keep you focused on your best path.
Follow your own path and make sure it has a heart!
And always remember the power of partnerships when it comes to how to create a multimillion-dollar business
If you look at some of the most amazing companies created you will always see powerful partnerships in play.
Berkshire Hathaway Inc. is a super example of a powerful partnership between Warren Buffet and Charlie Munger. Warren has traditionally been the front ‘man’ and Charlie the backroom ‘man’. These days they are both out there in the public eye.
My co-creation of B1G1 was an amazing and powerful partnership with Masami Sato.
Microsoft with Bill Gates and Paul Allen.
Steve Jobs, Steve Wozniak, and Ronald Wayne founding Apple.
The list goes on.
Partnerships are not just about skill but about synergy: The creation of a new and distinct energy
In the past, I studied the power of plants – herbs.
Herbalists attest to the synergistic power of plants. A single plant may be very potent, but combine it with one or more other plants – it can become super powerful.
Humans are the same! One our own we can be amazing, but united with other like minds focused on a single goal our results can be exponential.
The beauty about partnerships though is that you do not need to go looking for them – they find you!
It does not take long when there is true synergy for the common threads that you have with others to bind themselves into a powerful rope that can pull in the future at light-speed.
Enjoy your creation journey! Bon Voyage!
Other great and new ideas you may be interested in
- How to retire young and rich
- How to boost your energy with food
- Out of your depth … How to find the flow
- How to ask better questions
And here is that link again so you do not ‘pop your bubble‘ in the future.