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Unicorns aren’t as rare as you might think, and I’m convinced that by hacking the success of unicorns, we can create more of them!
Today, I’m sharing 3 ways Invisible unicorn companies have bootstrapped their way to a $1B valuation. What is an invisible unicorn? A company with a $1 Billion valuation without taking outside funding.
There are 3 methods of becoming an invisible unicorn:
- Partner Sale
- Prototype Sale
Presale Example – Loot Crate – focused on efficiency over funding. On average it can take 18 months to get funding. That’s an 18 month sales cycle – an 18 month distraction! Instead, they focused on scaling the company organically.
They had a landing page and sold all these crates with geeky pictures. They took the revenue from selling the crates to actually buy the products in the crates that they already sold.
Tough Mudder – they presold registrations to races and the CEO used a $7000 investment and turned it into a company with $100M in annual revenue, They used the preregistrations to races to fund the building of the obstacle course.
Partner Sale Example – Clickfunnels – they provide marketing software and grew to over $100M in revenue with no outside funding. They achieved $100M in revenue in 3 years. Russell Brunson leveraged JV partnerships and did webinars and gave the JV partner 50% of revenue sales.
Prototype Sale Example – Simplisafe – they are a hardware business, which is typically a revenue intensive model. While they were providing the security systems and putting them out there, he kept creating prototypes that he could create at scale.
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