Thursday, August 09, 2007

Would You Like Me to Coach or Brief You so You Can Build Your Billion Dollar Business Faster and Larger?

Good morning, Billion Dollar Business Creators!

Are you feeling motivated this morning?

I certainly hope so. I know that I am!

I have been getting a lot of inquiries lately from entrepreneurs who would like me to help them build a billion dollar business. A number of these entrepreneurs have asked me if I would provide individual coaching to them.

I wanted to share with you the answer I have been giving: I am willing to do a little individual coaching for entrepreneurs.

For those of you who I will not be able to work with directly, let me describe a few lessons that will help you.

What does it take to create a billion dollar business from scratch? Here are a few key lessons that I find most people don't follow.

1. Based on my research with those who have succeeded, you can expect to have to make at least 75 business model changes from where you start. Most entrepreneurs don't realize that and slow down their business model changes too soon. As a result, I favor working with entrepreneurs to make frequent business model improvements that expand their growth and profit potential.

2. In most cases, your enterprise will need to develop a multibillion dollar market that doesn't yet exist. You'll need to focus on both growing your market and your enterprise.

3. You can accelerate your progress by many years through introducing the right 2,000 percent solutions as you improve your business model. The most advantageous 2,000 percent solutions to develop are (a) market-expanding ones, (b) cost-reducing ones, and (c) asset-reducing ones. You can get ideas to help you from The 2,000 Percent Squared Solution (Mitchell and Company Press, 2007) and The Ultimate Competitive Advantage (Berrett-Koehler, 2003). The 2,000 Percent Solution Workbook (iUniverse, 2005) will help you organize your work on each 2,000 percent solution.

4. Reducing your cost of capital will greatly expand your choices. I suggest that you fully develop ways to encourage customers to provide your capital needs . . . in exchange for valuable advantages that customers want.

5. Getting most of your good ideas from within your organization will keep you from reaching your full potential. Instead, find ways to locate over 90 percent of your best ideas from outside of your organization while continuing to get as many good ideas as possible from within your company.

As you know, I've been developing briefing documents for a year-and-a-half for The Billionaire Entrepreneurs' Master Mind. To date, I've produced 76 briefings to help entrepreneurs build their billion dollar businesses.

Because I cannot coach all of the people who would like me to help them, I've decided to start offering subscriptions to these briefings. If this is of interest, please contact me by sending an e-mail to

May God bless you.

Donald W. Mitchell
Chairman, Mitchell and Company

Copyright 2007 Donald W. Mitchell

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