What makes a great company
New York based Fred Wilson is one of the smartest and successful venture capitalists around. His blog is very popular with tech entreprenuers and executives.
In this blog we try to stay away from “fancy” VC stuff that relate mostly to hi-tech, but sometimes comments fit any business. Today Fred posted about what makes a great company and here is his list of Ten characteristics of Great Companies:
1) Great companies are constantly innovating and delighting their customers/users with new products and services.
2) Great companies are built to last and be independent and sustainable. Great companies dont sell out.
3) Great companies make lots of money but leave even more money on the table for their users and partners.
4) Great companies dont look elsewhere for ideas. They develop their ideas internally and are copied by others.
5) Great companies infect their users/customers with their brand. They turn their users and customers into marketing/salesforces.
6) Great companies are led by entrepreneurs who own a meaningful piece of the business. As such, they make decisions based on long term business needs and objectives not short term goals.
7) Great companies have a global mindset. They treat every person in the world as a potential customer/user.
8) Great companies are attempting to change the world in addition to making money.
9) Great companies are not reliant on any one person to deliver their value proposition.
10) Great companies put the customer/user first above any other priority.
Well, it is sometimes easier to say than to do but I strongly share Freds views and this list and would think every company should check where they fit.