Many people may consider Warren Buffett’s way of making a fortune as “boring,” but it is actually a strategy that has been used by 94% of billion-dollar entrepreneurs to launch their ventures. This method, known as the Unicorn-Entrepreneur method, focuses on substance over hype and has been successfully utilized by 76% of entrepreneurs to build their ventures.
Some of the lesser-known success stories include Bob Kierlin, who built Fastenal into the largest fastener company in the U.S., Richard Burke, who built UnitedHealthcare into a massive healthcare company, and Dick Schulze, who turned Best Buy into an industry giant. These entrepreneurs intentionally avoided the limelight and instead focused on building their ventures with cash flow and skills, rather than relying on hype and VC funding.
The “boring” strategy has proven to be effective for many entrepreneurs, as it allows them to lower risks, retain control of their ventures, and keep more of the wealth created. By focusing on skills rather than luck and VC funding, entrepreneurs can build successful ventures without the pressure to hype their products and services, potentially avoiding scandals like those involving Elizabeth Holmes and Sam Bankman-Fried.
While outliers like Elon Musk may find success with a different approach, for most entrepreneurs, following the “boring” path is more likely to lead to long-term success. This method allows entrepreneurs to build their ventures based on substance and skills, rather than relying on capital as a crutch. Ultimately, the “boring” path may be the best option for the majority of entrepreneurs who do not qualify for or receive VC funding but still have the potential to build successful ventures.
