CLICK HERE to read the full Endeavor Insight report, “Emerging Market Entrepreneurs Have Emerged: A look at the fastest growing entrepreneurs in Endeavor’s portfolio”
The fastest growing Endeavor Entrepreneurs (13 of whom would have qualified for the Inc. 500 list this year) set aggressive growth targets; on average, they aim for 80% yearly growth. When asked if they had met the ambitious goals they had set three years prior, more than 90% had met or exceeded their target. This high success ratio seems to give credence to the notion that ambitious goal setting is crucial to aggressive growth. As the saying goes, “think big, achieve big.”
Endeavor Entrepreneur Yunus Güvenen, CEO and founder of Digitouch, explains that Digitouch was able to meet its goal of growing approximately 100% yearly for three years due to relentless drive and focus. “We fell short [of our revenue goals] in some areas and went above in others. When you don’t make the targets in one area of the business, you try to find another area to make up for it.” Still, setting targets remains a clear motivator for Yunus, as he explains that “believing that you can build this market, that you can make it, is something emotional, but it also gives you the drive to do it.”
Do ambitious goals work as a self-fulfilling prophecy? To read more about “Thinking Big” and other lessons from Endeavor’s fastest-growing entrepreneurs, check out the full report.