The CEO of Google makes use of this take a look at to judge which firms they need to purchase
Problem: brainstorm all of the billion-dollar firms you may consider.
I’ll checklist those that pop into my thoughts instantly: Netflix, Instagram, Google (after all) and Waze.
Earlier than I reveal what situation they’ve all handed to grant them that allusive passcode to the unique billion-dollar unicorn membership, let me present you extra perception.
I’m at present making an attempt to judge the potential measurement of my enterprise, Wing, as we’re gearing up for chatting with buyers. Wing is a completely contactless enterprise card that harnesses the identical expertise utilized by Apple Pay to trade contact data. The times of ordering a whole lot of paper enterprise playing cards are over — with Wing, you solely want one card for all times.
Many buyers have requested me, ‘what’s your exit technique?’
Simply from speaking to younger founders on my podcast, The Millennial Entrepreneur, it’s clear that this can be a common ambition to intention for. They focus closely on the financials — money movement, earnings, recurring income, and so forth, and attempt to develop quick and make a fast (and rich) exit.
Nonetheless, Google’s CEO, Larry Web page, doesn’t care a lot about these and even gross sales when he considers firms he needs to amass. As a substitute, he cares about innovation and probably nice concepts.
If you’re beginning a enterprise, neglect about your dream exit package deal for now. Earlier than you think about this take a look at, it is very important consider why your clients may love your product — and why they won’t.