You want to grow your business like Amazon, Apple or Google, I'm going to share with you three traits on why these trillion-dollar companies dominate and how you can do the same within your business.

The first reason why they dominate is because they are global. These are companies without borders. This gives them certain benefits. One benefit it gives them is it gives them an unlimited market that they can sell to. The last time I checked, there were over 8 billion people in the world. If your business is just local or geographically located and only sells within your area or region, you're missing out on unlimited possibilities of the people you can sell to. Another benefit of being global is diversified revenue. These companies don't discriminate against the currencies that they receive. Having diversified revenue means they're not dependent on one country or one area or one region, they accept currencies from everywhere. If one local economy is down or not doing well, that's okay, because they are still operating in other parts of the world. Another benefit of being global is they can sell 24/7. That means, when they're asleep, they are still making money. When they're up, they are making money. If your business is only operating in a certain geographical area, most times, in most cases, if you go to your local store, they have store hours. This means they open at a certain time, and they close at a certain time. Any time before they open or any time after they close, they're not making money, or they're not selling their products and services. Being global opens you up to being able to sell 24/7, 365. Another benefit of being global is brand authority. That means the more people that know you and know about your products and services, the more they will seek you to gain those products and services.

The second trait of trillion-dollar companies is multiple revenue streams. Kind of talked about this in the global multiple revenue streams above. One benefit of having multiple revenue streams is that it creates financial stability, so you're not dependent on one product, you're not dependent on one service. Trillion-dollar companies have multiple services and multiple products that they can depend and rely on. This opens them up to growing the company. This helps them be able to increase revenue over time. The second benefit of having multiple income streams is it allows for recurring revenue. Recurring revenue gives you predictability. This comes from subscription plans. It goes hand in hand with financial stability. Multiple revenue streams also drive growth. You can bundle your services. You can sell more. Multiple revenue streams are attractive to investors. What does this mean? This means that if you're looking to sell your company in the future, or you want to exit your company, which in most cases you will at some point. Having global reach, and if you have multiple income streams, this raises the value of your company, which means it's worth more.

The third trait that I'm going to share is platform ownership. This is probably the most important one. The reason being is because platform ownership gives you control. You are in control of your business. If you're borrowing somebody else's platform, or you rent it on somebody else's land. There's only so much you can do. Your growth is capped. If you own your platform, you own your home, you own your land, you can do whatever you want on your land. You're not bound to algorithms. You're not bound to whatever rules and regulations that platforms have. You have full control. Another benefit to platform ownership is, it’s more profitable. Since you have total control, you gain all the profits of the platform, you get everything the platform sales, everything the platform uses, you can make revenue from, it's all yours. You're not succumbing to whatever the rules are for that platform that's capping your growth, or the platform is not just giving you crumbs. When it comes to advertising, when it comes to subscriptions, you're able to gain all that, which makes you more profitable. Another benefit of owning your own platform is you are able to personalize the customer experience. You will have the data to personalize the experience of your clients. This is huge! This is what the trillion-dollar companies are doing. That's how they know what you like to watch, what you like to see, or what to put in front of you. Your data that you've given them, whether you know it or not, gives trillion-dollar companies that ability. That's why they make so much in ad revenue, because they're able to put your ad or whoever wants to advertise on their platforms in front of the people that their client profile represents. Integration is easier with platform ownership. Now, what's integration? That means all the products and services that your business has are able to leverage each other. Think about Apple. Now, out of full disclosure, I'm not an apple owner, but that doesn't matter, because this is not personal, it's business. Apple is able to sell a Mac. They're able to sell an iPhone, they're able to sell an Apple Watch. They're able to sell iCloud storage. They can sell all their products and services. When you buy an iPad, you may buy a MacBook to use to integrate so they work together. When you buy Apple Watch, you probably have an iPhone already to use to leverage with the iPhone. These products and services integrate, which makes them more profitable, which is huge when you own your own platform. And these are platforms we use pretty much every day. These are the three traits of many traits of why these companies dominate and how your business can use these traits to dominate as well, and always remember that it’s not personal, it’s business.