In this article, we’re going to take a look at the five most successful businesses in history.
What are the 5 Most Successful Businesses: Many people dream of starting their own business, but few actually put in the hard work to turn that dream into reality. The result? A lot of frustrated entrepreneurs can’t seem to make it work, despite their best efforts and intentions.
What are the 5 Most Successful Businesses?
In order to help you understand why some businesses are so successful, while others fail miserably, we’ve compiled a list of the top five most successful businesses of all time. It’s time to look at what made these companies tick, so you can apply the same principles in your own business!
Microsoft Corporation is an American multinational technology company headquartered in Redmond, Washington. Microsoft develops, manufactures, licenses supports, and sells computer software, consumer electronics, and personal computers and services. Its best-known software products are the Microsoft Windows line of operating systems, Microsoft Office office suite, and Internet Explorer web browser.
Its flagship hardware products are Xbox game consoles and the Microsoft Surface tablet lineup. As of 2011, it was the world’s largest software maker by revenue, and one of the world’s most valuable companies. The word Microsoft is a portmanteau of microcomputer and software. Microsoft was founded by Bill Gates and Paul Allen on April 4, 1975, to develop and sell BASIC interpreters for Altair 8800 microcomputers.
Since then, Microsoft has become one of the most valuable companies in the world with over $250 billion in market capitalization (as of 2012), and has consistently ranked among Fortune magazine’s list of top 10 companies in America.
1) Cyber security
Cyber security is an extremely important part of every company’s infrastructure, but it’s often hard to know where to start. There are plenty of different threats that you have to protect against and a huge range of options for doing so. One place you can start: With a cyber security management system (CSMS). A CSMS helps simplify things by letting you monitor your entire network’s security in one place and giving you real-time updates on potential problems or attacks as they happen.
Before you even dive into setting up your CSMS, there are a few questions that will help make sure you choose the right tool for your company: What size is my business? How many employees do I have? Do I need cloud-based access? What kind of budget do I have? How much time am I willing to spend training my staff? Once you’ve answered these questions, it’s time to look at some actual systems.
Here are five good ones that should work well for most companies: Zscaler; FireEye; Symantec Endpoint Protection; McAfee EMM; Trend Micro OfficeScan. If you want more details about each of these tools, check out our guide to choosing a cyber security management system. Once you’ve chosen a system, it’s time to get started. The first step is to figure out what devices—like servers, laptops, phones, and tablets—need protection from cyber attacks.
Then go through those devices one by one and create custom policies for them based on their specific needs. Next comes ongoing monitoring—you don’t want to just set up your software once and forget about it! It’s also crucial to keep tabs on new vulnerabilities that come along as new threats emerge all the time. Finally, when something does go wrong (and trust us, something will), be prepared with an incident response plan outlining how you’ll handle any breaches or other issues that arise.
2) Milk production
The United States is second only to New Zealand in milk production and has been a world leader in dairy since 1900. Dairy cattle were first introduced by Europeans to North America during early colonization, when they began arriving from European ports, including London and Bristol. Today, more than 35 million cattle are raised for their meat and other products on U.S. farms—nearly five times as many as there were 100 years ago.
Large herds of dairy cows produced most of our country’s milk supply until just after World War II when advances in mechanical refrigeration led to new processes for preserving milk, enabling it to be shipped nationwide instead of only locally or regionally. This shift helped spur rapid growth in U.S. dairy consumption and production over subsequent decades. In fact, today we produce about twice as much milk per person as we did 50 years ago (and consume about twice as much cheese).
By 2010, California was producing nearly one-fifth of all fluid milk consumed in the United States; Wisconsin was producing about one-third; Idaho was producing about 10 percent; New York was producing roughly 8 percent, and Pennsylvania was producing 6 percent. Other major producers include Texas (4 percent), Michigan (3 percent), Ohio (2 percent), and Arizona (2 percent). Although some states have fewer dairies than others, all 50 states produce at least some milk, according to USDA data released in 2017.
Dairy farming remains an important part of many local economies, especially in rural areas. In 2016, according to USDA data, 43 percent of U.S. dairy farms had fewer than 20 cows; 34 percent had between 20 and 99 head; 19 percent had between 100 and 499 head; 5 percent had between 500 and 999 head; 1 percent had 1,000 or more head, and less than 1 percent each had 2,000–4,999 head or 5,000–9,999 head. To put that into perspective: A typical operation with 700 milking cows produces about 110 million pounds of milk annually — enough to fill four Olympic swimming pools!
3) Timberland clothing
In 1972, brothers Tom and Jim. Journeay set out to sell waterproof shoes made from a new fabric, Gore-Tex, which had been developed by their mother’s employer W.L. Gore & Associates. Their first sale was for $4,000, which paid for a year’s worth of rent on a shop on Staten Island. The company now has a net income of over $600 million per year as of 2007; that figure represents an average growth rate of more than 20% over each of its previous two decades in business.
As reported by Bloomberg Businessweek in 2004, Timberland is second only to Nike in worldwide brand recognition. There are currently 1,400 stores located in North America alone. These facts indicate how successful Timberland has become over time and why it is one of the most successful businesses you should know about. 1. First, think about what problem you want to solve with your idea. If there’s no market need or desire for your product or service, then don’t waste your time developing it! What makes you different?
What sets you apart from other companies that offer similar products? Do some research on current trends and think about how those trends might affect what people will be looking for next year or even 5 years down the road. Try looking at industry trade magazines and online articles or blogs related to your niche—you can learn a lot just by reading other people’s thoughts on what they predict will be hot areas in future years.
With more than 100,000 wineries in operation throughout America, wine has become a popular business idea for entrepreneurs with a green thumb. But what if you’re not a vineyard owner by trade? That doesn’t mean you can’t turn grape growing into your next profitable venture; in fact, growing grapes is becoming a booming business across America. Wine production generates more than $15 billion annually and creates more than 135,000 jobs, says Joseph Costanzo of Texas A&M University’s Viticulture Department.
If you’ve got 1 to 2 acres of land with southern exposure, it’s time to start looking into taking over an existing vineyard or purchasing dormant vines to replant yourself. The average cost to purchase dormant vines runs between $1,200 and $2,500 per acre, but new growth costs about $1,000 per acre each year. In addition to selling your grapes wholesale at market rates (which usually run between 75 cents and $3 per pound).
There are other ways to make money from vineyards: hosting events like weddings or wine tastings at your vineyard could net you thousands of dollars extra each year; rent out space on your property for storage units or camping sites; open up a small winery on site that sells bottles directly to customers; or simply offer tours of your facility. The possibilities are endless!
5) Automotive parts
Established in 1909, NAPA is one of the world’s largest auto parts companies. The company sells more than 22,000 products from over 400 brand names and is present in more than 90 countries. And there are plenty of chances to get your foot in the door with NAPA: As of 2013, it employs nearly 16,000 people worldwide. Keep an eye out for opportunities at locations near you through current job postings on its website.
Candidates looking for a career-building opportunity might consider applying to become a Partner—just 350 in all work as partners at NAPA. Partners enjoy some pretty sweet perks, including generous bonuses and profit-sharing programs. A college degree isn’t required, but candidates must have at least three years of experience in business or industry.
What’s more, applicants must be able to demonstrate knowledge of accounting principles and management skills. In addition, they should possess excellent interpersonal skills; good communication abilities; problem-solving skills; motivation; energy; persistence; leadership qualities; a commitment to teamwork; willingness to accept responsibility, and follow instructions while working independently when necessary. Experience in marketing or retail sales also helps.
Also Read: What are The Top 10 Businesses to Start?
While each business is unique, there are some common traits that these companies all have. In order to be successful, a business needs to provide products or services that customers need or want and do so at a price they’re willing to pay. If your business offers something customers want but isn’t priced right, you won’t sell enough products or services to keep your doors open.
That said, focusing on only one of these elements—price, product/service quality, or customer service—will lead to failure. Ideally, you can strike a balance between all three of these factors so that your business is profitable and maintains customer loyalty over time.