Chapter 8. You must be this high to go on the ride – why babies can't swim
If you want to get seriously rich rather than simply run a lifestyle business that delivers an income, then you need to think in terms of getting big – and that means growing your market share.
It's a simple enough equation. When the time comes to sell your business, the amount you can expect to get will be to a greater or lesser extent based on a multiple of profits. And the truth is that profitability tends to be linked very closely with size in the market.
The facts are there to support this claim. In 1960, the vice president of marketing services at technology and services giant GE initiated a large-scale project to examine the profit impact of marketing strategies. Decades ...