The 1 Rule for Building a Billion-Dollar Business

The 1 Rule for Building a Billion-Dollar Business

Building a billion-dollar business isn’t easy.

This October at Commerce+ Shopify’s founder and CEO Tobi Lütke and BeautyCon media founder and CEO Moj Mahdara spoke about what makes and maintains a billion-dollar business.

Spoiler: it’s the customers. 

You could have the world’s best platform for making sales, but without customers, the billion-dollar business wouldn’t exist. Here we see a shift in mentality: Generating revenue isn’t the north star, but making commerce better for everyone. 

For Lütke, it’s seeing how retailer pains are the roadmap to Shopify’s success as a software platform. For retailers, it’s keeping up with what their buyers engage with, or complain about. 

Shopify’s billion-dollar business growth is a circle, not a straight line — and one that’s inherently built on support. 

Watch Behind a Billion-Dollar Business:

About the author

Sarah MacDonald

Sarah MacDonald is an arts and culture writer and editor based in Toronto. Her words can be found in the Globe and MailHazlitt, The Walrus, CBC Arts, Elle Canada, VICE, and many more.

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