If you are starting a business in your garage and you hear a few people laughing, remember these five entrepreneurs who started in a garage and moved on to the Fortune 500:
Are the seven steps on Lendio over-simplified?
Starting your fortune 500 company:
“The top 500 wealthiest companies have a multi-million dollar income.”
1. Develop a business plan and a vision for the brand that you are passionate about
2. Along with a team of dependable leadership, spend weeks and months listening to the needs and wants of your customers
3. Focus on the corporate culture, “a blend of the values, beliefs, taboos, symbols, rituals and myths all companies develop over time”, as well as the vision and personality (logo, dress code, etc.) of your business
4. Look for improvements so that you can meet and exceed your customers and employees expectations
5. Test new theories and practices to stay ahead of your competition
6. Develop a marketing plan convincing customers to purchase your products or services over your competitors, by making your product more valuable or unique than your competitor’s product
7. Increase profits and income
Regardless of whether your business is the next Fortune 500 company or simply one that dominates locally, this is at least a place to start. Along the way be prepared for resistance and unbelievers. While your idea and plan may not be perfect, there is no doubt that those who have achieved little will NOT be the best resource for advice and counsel.
While this infographic may only scratch the surface, it is a reminder to stay hopeful. Everyone along the way has doubts and misgivings. Hopefully your team and support system will empower. It starts with focus to be the absolute best ... what are you best at?