If you want to start a billion dollar company, there are three things you should know:
The odds aren’t good
At the moment, there were only 39 companies in the United States that are worth over $1 billion that started within the last 10 years. But, about 50,000 new companies get funded every year, so the odds of becoming the next billion-dollar company are slimmer than slim.
You’re going to need money
Cash-flow will be a problem from Day One, so you will be spending a substantial amount of time on fundraising efforts. The more time you spend trying to raise money, the less time you’re going to have for your company. Time is our biggest virtue. Know that going in.
Forget “Normal Life”
If you get lucky – if someone decides to invest in you – life as you know it is over. The only thing that matters from that day forth is The Company. You will work harder than you ever imagined and your entire focus will be on The Company. People will try to have normal conversations with you, but all you will want to talk about is The Company. As for sleep, forget it. Even your dreams will be about The Company, and, trust me, not all of them are going to be pleasant. Finding healthy balance in your life will be challenging, if not impossible.
I started my first Company at 16; eighteen months later I sold it for $40 million. Not long after, I launched BlueLithium, put my experience to work, and sold it three and half years later $300 million. For the past four years I’ve been building