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CHAPTER 2 THE SUCCESS FACTORS OF MILLIONAIRE ENTREPRENEURS

and make yourself obsolete. If you don’t make yourself
obsolete, your competitors will make you obsolete.

This is why the moment a software like Windows is released,
Microsoft is already working on the next version and upgrades
like Windows 98, Windows 2000, Windows NT, Vista and
so on. Bill Gates knows that the moment they stop innovation,
another company will create an even better software and
take over their customers.

This is exactly what has happened to companies that did not
change fast enough. Back in the 1990s, the top selling mobile
phone was Motorola. Motorola produced the best-designed
and technologically advanced phones. Everyone, including
me, bought a Motorola phone. Back in 1994, its global
market share was 60%.

So, where is Motorola today? Their market share has plunged
all the way down to just 9.5% recently (2008) and their mobile
phone division made a loss of US$418 million in the first
quarter of 2008. What happened? Well, when the world
changed from Analog to Digital technology, Motorola could
not make the transition fast enough. At the same time, Nokia
and Sony Ericsson happened to innovate even better designed
and more user friendly handsets (with superior software) that
captured Motorola’s market share and profits.

Do you know which is the first search engine on the Internet?
Is it Google? Yahoo? MSN? The answer is none of them. The
world’s first search engine is Alta Vista. Many of you may
never have heard of this brand simply because it has an
obscure site that very people go to. Needless to say, the
company that was once a market pioneer and leader has
joined the trash heap of business failure. Again, what happened

56 SECRETS OF BUILDING MULTI-MILLION DOLLAR BUSINESSES