Frank Feather- one of the world’s top 100 futurists, in his recent book “Future Living” has given details on the number of years taken by some of the world’s legendary billionaires to make their first billion dollars:
- Henry Ford 23 years (Ford Motors)
- Sam Walton 20 years (Wal-Mart)
- Bill Gates 12 years (Microsoft)
- Jeff Bezos 3 years (Amazon)
It’s interesting to note that to build their fortunes all of these fabled wealth creators have:
- built a system,
- miniaturised their offerings, and,
- retailed products and/or services to the customers.
The acronym SYSTEM, according to Robert Allen stands for, Save Your Self Time, Energy & Money. Just look at the systems they built to make their billions: Ford created assembly line system, Walton depended on superior logistics system, Gates wrote computer operating system, and Bezos created e-commerce system.
It’s also interesting to observe that the the products and services they offered progressively became miniaturised — smaller and smaller — from cars to consumer products to software on CDs to pure bits and electrons (Amazon doesn’t sell anything, it’s just an interface on the web for conducting e-commerce).