7 Questions for Every Business Plan — according to Peter Thiel
The following content is referenced from Peter Thiel’s Zero to One (2014).
What if there is a big difference between genius and courage. The courage to ask questions. The courage to ask YOURSELF questions.
It’s competition, not business, that is like war says Mr. Thiel. What successful start-ups have is the obtainment of being correct about something that those outside have missed. Don’t fall victim to an undifferentiated commodity business.
As a relevant side note — there is no traffic jam along the extra mile, says Napoleon Hill. Mr. Hill has also been referenced to say if you cannot do great things, do small things in a great way.
1) The Engineering Question — can you create breakthrough technology instead of incremental improvements?
2) The Timing Question — is now the right time to start your particular business?
3) The Monopoly Question — are you starting with a big share of a small market?
4) The People Question — do you have the right team?
5) The Distribution Question — do you have a way to not just create but deliver your product?
6) The Durability Question — will your market position be defensible 10 and 20 years into the future?
7) The Secret Question — have you identified a unique opportunity that others don’t see?
Lastly, it is an uphill battle to develop new things in large organizations, and it’s even harder to do it by yourself. Leaders who don’t listen will eventually be surrounded by employees who have nothing to say (emphasizing Question 4).
What if you could say this to potential employees:
I can provide you with the opportunity to do irreplaceable work on a unique problem alongside great people.
For the record, I consciously put effort towards courage. The courage to try.
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Nathan Kolar, www.reachworldwide.ca
