David Thomson | United States | eBay | Starbucks | retail

Billion $ Bound

by Tracy Staton

David Thomson wanted to know the secrets of companies able to break the billion-dollar barrier (don’t we all?), so he spent three years analyzing the United States’ highest-growth companies for his new book, Blueprint to a Billion: 7 Essentials to Achieve Exponential Growth (Wiley, $28). Here’s what you need to put his findings to work. — T.S.

The right strategy Aim to reshape the world (think eBay), reshape a niche (Starbucks), or stomp everyone else in your category on price or service (think Home Depot).

The right industry Hint: Specialty retail, insurance, and health care were all past winners.

The right customers You are who you sell to, so foster relationships with luminaries.

The right partners If you’re big, pick a smaller, innovative company to keep you fresh. If you’re little, pick a big guy to boost your credibility.

The right expenses Control your costs
to achieve at least 20 percent gross earnings from the get-go.

The right chiefs
One to focus on external relationships, and one for internal ops.

The right directors Choose customers, partners, and experts instead of investors so that your board is an extension of the management team.


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