Short book summary -Zero to one by Peter Thiel 5 Great notes on Startups or how to build the business to archive success fully

Zero to one by Peter Thiel

      5 years ago, when I got to understand how I could use the internet. To promote my own business, there came immediately a temptation to sell product or services to the entire world.

     since you can actually reach the whole world through the internet, why not try and sell to the whole world? Instead of trying to sell to the entire world, I decided to look for a small market I could easily dominate, a market where I could monopolized.

      One of the most important lessons in zero to one is; “Design your business to be a monopoly”.

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      Let’s move to the second lesson. Now, I heard you saying, “but monopoly isn’t a good thing for the market” I’ll answer you by saying, “but competition isn’t a good thing for businesses” let’s face it!

      Most businesses are either losing money or breaking even. According to an online source as at the time of making this blog, there are about 32 million businesses in the united states, among which over 22 million of them are making no significant profit.

      Now the question you may want to ask is; why are most businesses not making money? Low profit margin. Yes low profit margin is the reason why most business make no amount able profit and competition is the reason for low profit margin.

      If you’re a consumer, it’s a good news for you to know that most businesses you patronize aren’t making any profit from you. However, if you’re an entrepreneur, that’s a bad news because no one wants to build a business without making reasonable money with profit. So, what’s the way out?

      Be unique. Be different. Be a monopoly. For your business to make a lot of money, you must be able to sell your product at a good price.

      In other words, you must be able to determine the price, not your competitions. The only way you can ever do that is to be the king in the market. How on earth can you be the king in your market?

      Your offer must be ten times better than that of your competitors or very much unique from what they bring to the market. Your business must be so different from the competition that the market perceives you as the king.

      The second most important lesson in zero to one is; how a far better technology or a very unique offer or position

      Amazon got started in the year 1996 by stepping with just books sales. Because the company concentrated on the bookstore business alone, it was able to become the world’s biggest book store within short period of time.

      But that was just the beginning. The company has to move from scratch to become the world’s biggest e-commerce company. What is the lesson here?

      To build a really great successful company, you must start with a small niche market you can easily dominate and then scale up from there to another territory and another market, process repeated till you become the giant you really want to become.

      That’s why facebook started with just the Harvard University’s students and that’s why google started with only search engine.

      The third important lesson in the zero to one is; start with a small market that you can easily dominate, before you eventually become a giant monopoly.

      Someone reading this blog would think, “but, government doesn’t like monopoly.” you’re right, government doesn’t like monopoly because it’s believed to be a business model that discourages creativity and good price.

     However, almost every successful business in the world is a monopoly in disguise. Just as standard oil, ford motors and Carnegie steel were monopoly for many years. Today Google is a monopoly, Facebook is a monopoly and apple is a monopoly.

      But if monopoly is considered a sin by ht e government, how do these companies get away with it? These giant companies get away with monopoly because they have learned how to disguise their real businesses.

      For example, Google calls itself a technology company. It’s not,while it’s actually a search engine company. Calling itself a search engine company would have exposed Google for having about 64% of the search market but by calling itself a technology company. Google looks ridiculously small.

      One of the questions congress men asked Mark Zuckerberg while he was battling with his company’s data scandal was; “is Facebook too big?”, to which mark answered, “we only have abut 100 million users in the U.S”

      The fourth lesson in zero to one is; disguise your monopoly status so you’ll not be crushed.

      I’ve been in the business world fully since 2008 and here I am, yet to build the national brand I promised everyone I wanted to build. Am I a failure? Not yet.

      You see, building a great company takes a lot of time, focus and determination. If entrepreneurship is what you are willing to do with your life, then get prepared for a long journey. Yes, it’s rewarding and exciting, but it’s not what most people think it’s.

      While you can go get a job today and start earning money almost immediately, if you start business today, you may not make any profit for many months to come.

      Alibaba wasn’t making money for many years. Amazon wasn’t making money for a long time. Peter Theil (Paypal co-founder) himself wasn’t making money for years. If you can’t wait, you can’t build a company.

      The fifth major lesson in zero to one is; You must be willing to wait, for a long time, if you want to build a successful business.

      Now, let’s discuss what lessons do you think I missed in this book? What point would you like to add? Which other good books would you like our team to summarize next? We love to receive your comments.

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