“How do we turn our small business into a big business?”
I know you have a big dream, and a vision to see your business become a national champion, and then probably a regional champion, until it is a continental champion, until ultimately it is a global brand with offices around the world.
Yes, it is possible and you can definitely do it.
One of the things I have learnt in life, is to avoid prescribing formulas. And I know many people would like to be given a formula. When I was at engineering school, I learnt that people who cram formulas are destined to fail. The ones who succeed are those who grasp principles, from which formulas are derived.
I am going to teach you principles; some of which will surprise you. Some of them, will challenge what you have been taught, or have come to believe. I hope you will have an open mind, and where necessary the courage to change somethings.
In the table (link below), which I took from Forbes Magazine, is a list of the world’s largest companies, based on revenue (not market value).
I have chosen this list because of something, I want you to see:
1. Some of these companies have an annual turnover that is as large as the the GDP of Nigeria, Africa’s biggest economy.
2. A company like Walmart, which is owned by an American family, has more than 2 m, employees.
“How is it possible to build and manage organisations of that size?”
“How”?
“How”?
(Table: World’s Largest Companies http://bit.ly/1BRLEXP)
The next generation of African entrepreneurs, must seize themselves with questions like this.
Let’s talk?
Let’s talk seriously, now!
List of the 5 most valuable companies in the world with their market value:
Based on Financial times global 500. Third quarter of 2014: ( ALL.FIG IN MILLION USD)
1 Apple Inc. 603,277.4
2 Exxon Mobil. 401,094.1
3 Microsoft 381,959.7
4 Google 361,998.4
5 Berkshire Hathaway. 340,055.0
1. Apple is the most valuable company, in the world, with a value of $603bn, as recorded in the 3rd quarter of this year.
2. Walmart is the largest, public listed company, in the world, when measured in terms of revenues. It generates almost $500bn, a year. However in terms of market value, it is worth about $203bn, and does not make the top 5.
Why does all this matter?
If you are an entrepreneur, or work in any thing called a business, these are things that should be at your finger tips. Imagine a football fan, who does not know who the best players are, or what position they play!
This is your game, right? Well then know how it is played, and who its best players are.
