Today everybody know Peter Thiel, but when he thinks about to launch his product many thinks his idea is just scrap, but he believes in his product. He always believe in one ideology “what is the important truth do very few people agree with you on?”,this ideology help him to provide unique service to society on which everybody believes. Peter Thiel always believe in technology not on copying the services from another company which help him to make sustainable product.Today he is serial entrepreneur who founded Paypal, Palantir technologies and more. He always believed in technology oriented company,because of that 13 years ago he took the luckiest gamble and bought 10 percent of “Facebook” and earn lots of money. So here are The top 10 lesson every entrepreneur have to learn
Believe on technology not globalization
Technology is the only factor in company which will help to sustain for long time. So company have to think about whether they are delivering unique services or they are copying the services from established company.
Globalization makes your company to follow 1 to n which will not lead any innovation, so every entrepreneur have to think about to unique service and believe in technology which will solve 0 to 1 problems. We have to think about those products which will solve unique problems.
When you think about to open company firstly think about “what is the important truth do very few people agree with you on?”. This will help you to think about whether your product is delivering value to society.
People associate themselves with those company which solve unique problems of society, this will help to sustain business for long time.
Believe in secret
People don’t belief in secret now days but secret exists to make great business. Mostly people will not follow secrets, because of risk and failing factor. Entrepreneurs must know that existing convention make you comfortable but also increase competition so they have to know what is the secret things they have to work which didn’t discover till today.
This ideology may take some precious time but it will also help to differentiate your company to others.
Competition always create problem to company, so always try to launch those products which deliver unique solution. By this not only you avoid competition but also become the only one company which are delivering these type of solutions.
So always try to impact the market with new unique solutions not go for competition for the same services which another company are delivering.
Sometime company fail whether they are using great technology to their product compare to those company who are delivering mediocre product. This happen because of sales person of company which will influence the people that they are delivering the best service to people.
So company have to also think about to hire those people who have better experience in selling their product and influence people.
Follow “power law” in life
Peter Thiel said before investing money in company, you have to first think about that only 20 percent of selection of company and investing in that company will give you 80 percent of profit. So before opening your company you have to select which 20 percent unique product will deliver the 80 percent of profit to your company.
Entrepreneur always come with their vision or plan how they will initiate to establish their business. But as the time passes new environment, market or technology come, because of that those who remain rigid on their vision they fail. So we have to always have flexible plan which we have to change according to newest technology.
When you and your partner think about to start company firstly you have to understand how much the bonding between you. This will help to reduce the internal conflict between the founders and make foundation for starting the company.
Peter Thiel said before investing in any company I always think about how much great bonding is available in founders compare to their skill.
Skills are important but bonding is also important suppose if you build business with internal conflict then it is very hard to say your company will become successful, because the foundation you built are not strong.
Founders are different
Mostly people are average, they have normal traits. Average people have not their opinion, they make opinion on situation, but founders are totally different to average people.
Founders are totally outsiders or insiders or disagree or charismatic. They don’t have mix opinion they just go according to their plans or traits without extra thinking.
Take charge of your life
Today everybody goes for comfortable life and conventional life which others said but you are the only person have to go for success according to yourself. People said now days everything is already discovered why you are wasting your life on uncertainty.
But they don’t know there are many white spaces on the map of human knowledge so just identify your blanks spaces and fill it. Those who follow others will not success in life, so for your success you have to take charge and identify it and go for it.