Saturday, December 12, 2009

Learning from the few

Why very few Start up companies are successful? Why very few individuals are Billionaires?

9 out 10 companies fail within first five years of their formation and 9 out 10 such companies fail within 10 years. So is the success rate of new start up companies.

Hence we do not see a Google, a Microsoft, an amazon.com every day being formed. Our lives are quite similar.

Not everyone can become Bill Gates, Steve Jobs, Albert Einstein or Warren Buffet. What sets them apart from the crowd?

Successful Start ups and Billionaires have few things in common.
1) Clear cut goals
2) 3 year, 5 year, 10 year plans
3) Vision for the future
4) Strategic partnerships
5) Continuous improvement
6) Invest in R&D
7) Invest in Human capital
8) Invest in long term Assets
9) Hard work and persistent effort
10) Passionate

How can these have an impact in our daily life and our career?