ZERO TO ONE: Book Summary By Peter Thiel (HOW TO START A STARTUP BUSINESS)


Hello Friends,

Peter Theil is a multi-millionaire entrepreneur, The venture capitalist and the founder of Paypal, once he took a lecture at Stanford University, Related to Startups and businesses, Where he told the students part of the principle, from which even they can start their own multi-million dollar company, making this world a better and better place to live.

A student named Blake Masters made a detailed note of those principles, People found those notes so useful, they started to expand out of the university too, Then Peter started working with Blake and he improved those notes and made a book of that, so that not only students at Stanford University or their country can use that knowledge, but also the whole world, Today I will share some of the principles of that book, Let's start...


Principle No.1 Go From Zero To One


A time when the horses were used for a traveling purpose, At that time, if you have provided people Horses faster, or doing the business of making a horse cart better or better Then you would have made progress, but that progress will be from N to But instead of making a horse chariot if you had given people a new way to travel, making a car, Just as Henry Ford did, then that progress will be called from zero to one, If you want to succeed, then do something new, Go from zero to one, which is also known as vertical progress, Do something that has never happened before,Because, if something is already done and you are doing that same thing (copying) by some modification in it, Then you go from N to What is known as horizontal progress, But by doing this there will be less chance of success, And if by mistake you achieve success, it will not be huge, and it will not last for long.

In the business world, every big event happens only for once, World's Second Bill Gate will not be the operating system, Next Mark Zuckerberg will not create the social networking site, Or the next page of Lerry will not create the search engine, If you are copying your product, then you are not learning from them, because they got great success when they went from zero to, But if you try to copy them, you will go from N to that is not the best option.

Principle No.2 Become A Monopoly Avoid Competition


We live in society where competition is given more importance, Our educational system teaches students to compete at a very young age, First, they compete for brands / qualifications, then for work and when they do not get anyone, they start competing with their neighbors Have a better and bigger car compared to your neighbors, have a great television, etc. All these little stupid things create competition, But the reality is that most of the time the competition gives you losses for everything, In relation to Education and other fields, we will talk next time,

For business competition it's like a poison, Peter says that competition and capitalism are totally opposed, One is related to the generation of profits, and the other is related to ending the benefit, The more competition you have in the market for your business, the less you will generate profits Even if your business is very big.

Example;

US airlines UU They make billions, Even so, that company earned in 3% gain on a passenger, Now let's compare this with Google, In that same year, Google won Billion, Whereas the airline earned a billion, But google of that billion won 35% profit, which is a great benefit after the airlines, This happened because the airlines competed with each other, Because of that, they were reducing the price of the ticket, On the other hand, Google dominated most of the market individually, without competing with anyone for the benefit, Today, if we put all the airlines together, even so, Google earns three times more profits than them, Google can do this, because the Google search engine is a monopoly, And it has no competition in the market, If I asked you to look for something on the Internet,Without thinking twice, you will go to Google, Because you know that Google is the best search engine, In the same way, even if you want great success, you need to create a monopoly, of your product or service so that nobody has another option compared to yours.

Principle No.3 Start with a niche market and then Dominate


Amazon is a website where you can get almost all the products, but Amazon has not declared this way, In the beginning, Amazon focused on the small market, that was only for book readers, The first books were found only in bookstores, That's why it was very difficult to find the book, And it also resulted in the loss for book publishers, Then Amazon has created an Amazon online store, taking Zero to progress, It gave a lot of benefit to many people, After gaining success in the book business, Amazon has created other books related to products, like CD, DVD ETC And slowly dominated the other markets.

There is another example of Paypal, Peter Theil at first did not think about it, that each individual should start making a payment online, but he only focused on the niche market, This market was for eBay users, Where they have to use checks for each purchase and for the purpose of purchase, Peter gave them a solution like PayPal, Where they can transfer money easily, and receive money easily, not as checks, where they have to wait for a long time, After dominating the small eBay market, Paypal slowly made the general public understand, the ways of making online payments and their importance, after which Paypal became the Billion Dollar company,

Similarly, if you want your business to be a great success, Then, at the beginning, focus on the niche market, Solve the big problem of a small group, where nobody is focusing, where there is less competition or no competition at all, At the beginning, provide your best service and then slowly expand your business and dominate the market, Always remember, instead of becoming the little fish inside the big pond, where other big fish can eat you, try to become the big fish in the little pond, and then go to the big pond, When you follow these things and start your business, There will be greater chances of success.

These principles that I have shared with all of you come from Peter Thiel's book Zero to One, If you have any interest in business or startups, you should definitely read this book, contains many other valuable principles, which can help you understand, on how to make the next multi-million dollar company, You can buy this book CLICK ON THIS GREEN COLOR LINK.

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