Why do some companies “break through” while so many others do not? Author and business consultant Keith McFarland has spent years researching thousands of private companies in an attempt to answer that very question. After studying the performance of more than 7,000 companies that have appeared on the Inc. 500 list of America’s fastest-growing private companies, McFarland, a former Inc. 500 CEO himself, wrote the best-selling book The Breakthrough Company: How Everyday Companies Become Extraordinary Performers. Here are 10 secrets to long-term entrepreneurial growth:
1. The sexiest businesses don’t always win.
2. It’s not all about the entrepreneur.
3. Entrepreneurs aren’t always risk takers.
4. Founders don’t need to let go.
5. You don’t necessarily have to stick to your knitting.
6. You don’t need OPM (other people’s money).
7. It’s not all about hiring the right people.
8. It doesn’t matter where you went to school.
9. You don’t have to let the MBAs take over.
10. Strategy isn’t just the job of the CEO.
Source Yahoo Finance