With this post I’m going to start the Book Review section, where I will share quotes and thoughts about the books I read. This time the book of the week is Zero to One – Peter Thiel. Honestly, this is one the best books about entrepreneurship I’ve read recently. It tackles in a simple way how to build the future doing something new, not merely copying what someone else’s already doing.
Here’s some of the best content I pulled from this book:
A bad plan is better than no plan.
Competitive markets destroy profits.
Sales matters just as much as the product.
Initial markets are so small that they often don’t even appear to be business opportunities at all.
Building a monopoly: brand, scale, network effects, and technology in some combination define a monopoly; but to get them to work, you need to choose your market carefully and expand deliberately.
Start small and monopolize: every startup is small at the start. Every monopoly dominates a large share of its market. Therefore, every startup should start with a very small market
Perfect target: small group of people concentrated together and served by few or no competitors.
“You must study the end of the game before everything else.”
A business with a good definite plan will always be underrated in a world where people see the future as random.
The best place to look for secrets is where no one else is looking.
“A startup messed up at its foundation cannot be fixed.”
You should never assume that people will admire your company without a public relations strategy.
Defining roles reduce conflict.
Every entrepreneur should plan to be the last mover in her particular market.