Okay, So you’ve made up your mind to start with Entrepreneurship/ Startup.
& Now you are here searching ways from where and how to start things fast. Don’t worry. You are not alone.
I am not going to discuss here ‘How Entrepreneurship or Starting something of your own is more required in the 21st century than simply working under for someone else in a company.
You already know that. That’s why you are here. Let’s begin.
Before moving ahead, this will help you realize how much you’ve to be focused. Although starting a business is not that easy.
Every moment in business happens only once.
The next Bill Gates will not build an Operating System.
The next Larry Page won’t make a search engine.
The next Mark Zuckerberg won’t create a social network. If you’re copying these guys, you’re making a mistake. Let me explain you How.
When we copy the successful model, we move from 1 to n. But, when we create something new. We move from 0 to 1.
Let us take an example.
If you take 1 typewriter & build 100, you’ve moved from 1 to n or we can say that you’ve made a horizontal progress & If you have a typewriter & build a word processor, you’ve moved from 0 to 1 or we can say that you’ve made a vertical progress.
Let me explain you through another example.
Suppose, If someone has opened a product selling store and You’ve also opened the same product selling store & along with you many more people have opened the same business.
What is going to happen?
Obviously, there will be a rise in competition & you will be compelled to sell the product at whatever price the market determines.
& In a competitive market, no company makes an economic profit in long run. But, there is another best option also.
& that is to move from 0 to 1 or create something new valuable product which nobody else is building.
& when you create something new business, you can set your own price since it has no competition. This way you will be able to create a monopoly in the market.
Google is a great example of the monopoly. It has killed its competition (Yahoo, Microsoft) in search engine since early 2000.
So, the lesson for Entrepreneurs is clear here: If you want to grow your business from daily struggle for survival, you have to look for ways to avoid competition & create a monopoly.
In other words, we can also say that the companies failed because they failed to escape the competition, on the other hand, the companies succeed because they created the monopoly.
These were the TWO MOST IMPORTANT LESSONS which I wanted to discuss with you.
You can watch this beautiful video which I created for you to understand in a more better way.
These were the learnings from THE BOOK- ZERO TO ONE by Peter Thiel & Blake Masters.
I highly recommend this book if you are serious about starting a startup or business or anything of your own. This book gives you the detailed insight of
- venture capitalist
- how the fund is raised & its importance in any startup
- what should be the company’s work culture.
- how to recruit people
- how to sell anything
- why sales is important
- & almost everything you’ll require to start any business.
You can buy this book by clicking on the picture below
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