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4 Rules I Used to Build a Billion Dollar Company

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Building PayCertify wasn’t easy.

 

As a sales guy, I faced a lot of challenges competing in the fintech world, rooted deeply in technology and software development.

 

However, I knew that the vision I had was possible and I kept at it, and today the company is generating billions of dollars a year.

 

How did I do it? Here are 4 rules that I use every single day:

 

1. Know what you’re good at, and outsource everything else

 

One of the most common reasons why entrepreneurs fail is because they try to do it all. They think that just because they’re in the driver’s seat, they are obliged to be best at all areas of their business – the production, the sales, the customer support, everything.

 

I knew that my strong suit was sales. I didn’t pretend that I knew anything about software development or how to make financial fraud prevention products.

 

So I hired experts and engineers to take care of the areas which I wasn’t strong at – which is building the product, and focused my energy on what I knew best, which is keeping the wheels turning and the lights by keeping the clients flowing.

 

2. Luck Smiles to those Who Hustle Harder

 

One thing people like to say is that people who build successful businesses get lucky a bunch of times.

 

And that’s true.

 

But what these people don’t know is that luck is relative to how hard you hustle every day. If you’re constantly putting yourself in situations where you can get lucky and make something happen, you have a much higher chance of doing so than someone who doesn’t.

 

It’s not easy. Entrepreneurship isn’t easy. But hustling and grinding is the only way if you want to consistently make it.

 

3. Listen to Your Customers’ Needs

 

There is a special kind of entrepreneurs that like to stay in their basement, perfecting each detail of their own product.

 

Well, let me tell you a short story. A while ago, one Silicon Valley startup was developing a promising TV glass technology that was supposed to revolutionize some aspects of the industry. They got the investment, and they were happy perfecting their product.

 

However, while they were doing it, the TV industry has changed the way it produces TVs, and the startup’s technology was no longer relevant.

 

Don’t be the whiteboard guy. Be the guy who walks up to people on the street, gives them his product, and asks for their opinion.

 

4. Seal the Deal, and then Figure Out the Rest

 

This one’s my favorite.

 

Many people stop themselves from closing those once-in-a-lifetime opportunities because of something that’s not ready. A technology not finished. A relationship not formed. A supply chain not established.

 

However, from my own personal experience, I can tell you this: get the deal first, and figure everything else later.

 

Once you’ll get the deal, you’ll have the additional motivation and pressure to get everything in order on the back end. All you need to do is trust yourself and get the deal first.

Beta2Boss

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