How one man grew a $1000 business to $450 million
In 1974, Tom Phillips began producing two newsletters from home with a $1000 investment.
In the first year, Phillips generated $300,000 in revenue. By the 2000s, Phillips International, Inc. was a $450-million industry leader.
Tom told Jay Abraham that he achieved this by doing three things every year, without fail:
Penetrated at least one new market for each product and service
Introduced at least one new product or service to existing customers
Acquired at least one new business
Tom Phillips was clearly a brilliant entrepreneur and an exception rather than the norm.
But his story certainly makes a strong case for taking big leaps rather than tiny steps.
And it proves that big, bold, aggressive moves can work for the smallest business - not just investment bankers.