Last week I received an email and the subject was “3 secret weapons for entrepreneurs”. The subject caught my attention, and I decided to read the email.
Peter Diamandis newsletter is full of surprises, and this one is not an exception. He talks about the importance of hiring the right people and talent, creating a culture that sustain passion and enthusiasm for the people, and how to give the people a mechanism for continuous experimentation and innovation. When I finished reading the email, immediately, I made an association with Peter Thiel’s Zero to One.
In Zero to One, Peter Thiel talks about the value that exists when a business creates something new. The book talks about the importance of creating a breakthrough technology instead of incremental improvements. Then, he talks about time, market share, talent, product deployment, the future and start-ups as hidden gems. Peter Thiel is a venture capitalist, and as a venture capitalist he like to invest in breakthrough technologies. Wouldn’t you the same is you where a venture capitalist?
Peter Thiel want us to ask ourselves the following questions before we even start thinking about a logo:
- Can you create breakthrough technology instead of incremental improvements?
- Is now the right time to start your particular business?
- Are you starting with a big share of a small market?
- Do you have the right team?
- Do you have a way to not just create but deliver the product?
- Will your market position be defensible 10 & 20 years into the future?
- Have you identified a unique opportunity that others don’t see?
Question #6 is a big one for me, specially in Real Estate. You should have a strategy behind your Real Estate Investments. This will separate you from other investors.