Startups should start with a very small market because it's easier to dominate than a large one. Once you dominate it, scale up and move into adjacent broader markets.
The perfect target market for a startup is a small group of particular people that are served by few or no competitors.
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Proprietary technology is a great advantage on which you can build a monopoly business because it makes it difficult for other companies to replicate your product.
However, for proprietary technology to offer an advantage, it needs to be 10x better than existing sol...
Aim to build a company that is so different and ahead of the others that it's not even competing.
A monopoly enables you to:
You need to get the right balance between cash and equity when rewarding employees:
A startup is the largest group of people you can convince of a plan to build a different future.
Competition narrows your focus on beating the other companies. While this makes you good at that which you are competing on, it doesn't guarantee success.
You risk losing sight of the big picture and of what is important for future growth, if you keep relat...
The value of a business today is the sum of all the money it will make in the future. Great businesses have the ability to generate significant cash flows in the future.
This explains why promising tech companies have such high valuations. Most of that value will come 10 to...
No company has a culture; every company is a culture. A startup is a team of people on a mission, and a good culture is just what that looks like on the inside.
Choosing a co-founder is a crucial decision at the start of every company - one that's very hard to correct. You should team up with someone that has complementary skills and with whom you share a prehistory.
A great founding team is critical for th...
The future is a time when the world looks fundamentally different from today.
We need two types of progress to create the future:
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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.
The perfect target market for a startup is a small group of particular people concentrated together an...
One of the main things that VCs are looking for is a huge target market, usually at least $1 billion, that you can address through your startup. The reason for this is simple: VCs invest in multiple startups with the understanding that some of them will fail, some of them will not grow very much,...
Category 1: Losers
People who always see negative in everything and put in the least amount of effort or no effort at all. They are least bothered about what is happening around them. They will only crib and complain about how the world is. They will say someth...
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