Montenegro is a small, open economy characterized by a small domestic market. Montenegro has a significant import dependence that results in a negative trade balance, which is somewhat mitigated by the positive balance in the service sector. Montenegro is a credible NATO member with a good prospect of becoming a member state of the EU shortly. We have identified two Hidden Champion (HC) companies in Montenegro: Marina Porto Montenegro (Tourism sector) and Domen (ICT sector). Marina Porto Montenegro is a luxury marina for yachts, super yachts, and mega yachts, located in Tivat (the Bay of Kotor). In the target market segment of superyachts and mega yachts, Marina Porto Montenegro is the market leader in the Adriatic Sea region. Domen is a joint venture that was founded in 2008 by Afilias Limited, GoDaddy.com (foreign partners), and ME-net (a domestic partner) which does business as a “.ME” Registry. Domen is the market leader in the region according to the number of Country Code Top-Level Domains registered (CCTLD) and is ranked at first place in Europe according to the number of CCTLDs registered outside of their home country. Both HC companies were founded after the Montenegrin Declaration of Independence in 2006. In a relatively short period of time, they have achieved a leading position in competition with companies from other regional countries. The clear visions of both companies’ founders, operationalized through a well-chosen and implemented strategy based on a differential focus, led these companies to success. In their business success, it was of extreme importance that they identified excellent business ideas with high market potential in a timely manner.