Placeholder canvas

If you wish to build a billion-dollar company

No one, absolutely no one throws away a billion dollars at someone because the person wants it, craves for it, deserves it, works hard for it, or passionately pushes his envelope for it.

People take out their wallets only if the product provides a value greater than that of customer desire through a strong value proposition and enduring experience. They pay for the craft. The connection. The emotion. The promise. The essence. The soul. The voice. They pay for what your product does to and for them.

When I interact with entrepreneurs, I find them with lots of preconceived notions about what customers want. I ask them to explain the permanence of their pain that aroused their desire for the product and why someone will pay for it. And most of them lack it. Simply lack it.

Lots of people can give you lots of advice on what to build that will get you ready for a billion-dollar run. My simplest advice would be that you set up the boot, talk to your customer, and ask him, “How do you feel about my idea?”

“It’s nice.” Look at his facial expression more than the words.

You ask again, “Would you use my product when it’s ready?”

“Sure.” “Mmmmm. I can give it a try.” Look at their facial expression.

Your last question, “What would make you take your wallet out and pay for it?”

Just look at the facial expression and you should get your answer.

And until you find the facial expression that supports your conviction, keep trying. Keep doing your bit. Keep searching for the business model on which you can build your billion-dollar dream.

What do you think?