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CHAPTER 2 THE SUCCESS FACTORS OF MILLIONAIRE ENTREPRENEURS

was that the founders believed (arrogantly) that their search
engine was the best, and there was no need to change what
was working.

This left the door wide open for Yahoo! to come in and snatch
away their leadership position. Then what happened next?
Well, Yahoo! was too slow to extend their service range and
innovate their advertising services and this allowed Google
(one of the newest Internet search engines) to slip in and take
away 70% of the market share, leaving the remaining 30%
to be fought over by the other search sites. In today’s ever-
changing marketplace, a company that is the market leader
today could be bankrupt five years down the road, if they
stop innovating and finding new ways of doing things.

Instead of seeing this fact as a threat, see it as a fantastic
opportunity. This means that your fledging company has the
potential to take become market leader in your field, and
maybe even put the current leader(s) out of business! The
key is to find a way to serve their customers even better than
they can!

So, let me emphasize again that unless you keep innovating
and changing the way you do business, you will soon be out
of business. I can tell you that if I (and my team) did not grow
our business and enter new regional markets like Indonesia,
China, Thailand, India and Malaysia, we could be out of
business today!

Our company’s monthly overheads are about $500,000 and
Singapore accounts for only 50% of our sales and profits. If
I did not constantly focus on creating new programs (i.e. the
Wealth Academy and Internet Marketing Academy series),
writing new books (two a year) and reviewing and changing

SECRETS OF BUILDING MULTI-MILLION DOLLAR BUSINESSES 57