Learning from the Book - Zero to One by Peter Thiel with Blake Masters
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The document summarizes key concepts from the book "Zero to One" about creating new companies and products. It discusses the importance of vertical progress through creating new technologies rather than just scaling existing businesses horizontally. It emphasizes focusing on a strong mission and attracting talented employees who are inspired by an important problem being solved. Superior sales and distribution alone can create monopolies even without product differentiation. Technology can empower professionals like lawyers and doctors to do more.
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Learning from the Book - Zero to One by Peter Thiel with Blake Masters
- 1. Out of the BooX Rajnish G Shirsat
- 3. About the Book Key concepts & How to use these
- 4. Zero to One is about how to build Companies that create new things. The next Bill Gates will not build an operating system. The next Larry Page of Google will not make another Search enginge or the next Mark Zuckerberg will not make another social network site.
- 5. “Unless they invest in the difficult task of creating new things, companies will fail in the future no matter how much their profits remain today” • How much time are you spending on “new things”? • Best time to plan is when you are not in the red. • Call for a brainstorming session NOW.
- 6. Vertical or Intensive Progress (doing new things) Horizontal or Extensive Progress (Copying things that work) • Horizontal progress is easy to imagine because we know how it looks like from 1 to “n” • Vertical progress is doing new things from 0 to 1 • If you make one typewriter and build 100 more – its horizontal progress • If you make one typewriter and then build a word processor, you have made vertical progress • Are you scaling your business up or wide? • Can we list down three things of our business we can do vertically different?
- 7. “ The single word for Vertical, 0 to 1 progress is technology. In the world of scarce resources, globalization without technology is unsustainable” • Think about getting technology in every aspect of your business – sales, production, customer experience, quality etc. and create new opportunities – eg: Uber, Ola, Airbnb etc. * Call for a session NOW.
- 8. “ Victory awaits him who has everything in order – luck people call it.” • There is nothing like “bad luck” • Work hard and get everything in order for your business and good luck will chase you. • Here again – crawl, walk, run and then fly comes in • Set your fundamentals in place • Benchmark your business with global standards • Eg: Find out best practices followed by top players in your industry – local and global. Try an implement atleast three things from them which you are not doing today and see the difference.
- 9. “Characteristics of Monopoly: • Proprietary technology • Network effects • Economies of Scale • Branding” Google example: its algorithms return better results than anyone in search engines. Facebook example: if all are on Facebook would you join anyother social network? OR Would you trust anyother navigation than google maps? Fixed costs of creating a product (engineering, management, office space) can be spread over greater quantities of sales) Apple products as an example: Known for the material it uses, price position, design features - all this makes a great brand creating monopolies.
- 10. “ If you choose the wrong partners or hire the wrong people – it may sometimes take a crisis of a bankruptcy to repair or correct it . As a founder – your first job is to get the first thing right – you cannot build a great company on a flawed foundation.” • Do not hire or choose on emotions. • Give merit as top priority in selection • Look for complimentary skills • Have you defined KRA / KPI for everyone?
- 11. “ Talented people don’t need to work for you, they have plenty of options.You will attract employees if you explain your mission and why you are doing something important which no one else is doing.” • Inspire people to work for you. • Make your workplace a great platform • Set meritocracy in your system of appraisal • Make your company marketable to attract talent • When was the last time you discussed your business purpose with your core team?
- 12. What do you observe?
- 13. “ All Salesman are actors: their priority is persuasion, not sincerity .”All in sales have nothing to do with their designations: • People who sell advertising are called : Account Executives • People who sell Companies are called : Investment Bankers • People who sell themselves are called : Politicians • Look for persuasion skills in interviews of Sales people • Sell a Pen to me, Why should we hire you, What is one truth which people don’t agree with you, What did they do when a girl rejected his love offer………. ………..see how they answer these questions to gauge their attitude.
- 14. “ Superior Sales and Distribution by itself can create a monopoly, even with no product differentiation” • This is encouraging for FMCG, Telecom, Support Sales Companies like Mr. Nitin Jaswani, Mr. Sanjay Patil etc. – where service plays a crucial role – they don’t have product differentiation. • Have you visited your Sales & Distribution model lately?
- 15. “ Better technology in law, medicine and education won’t replace professionals but it will allow them to do even more” • LinkedIn didn’t replace Recruiters but empowered them to screen more candidates effectively. • Career Counsellors have been helped by technology to assess a student’s profile and his inclination to choose a career. • What aspect of your business can be boosted by technology? Don’t run away from this question but embrace it – call for a session
- 16. Out of the BooX Rajnish G Shirsat Co-founder & CEO Thank you https://www.youtube.com/watch?v=c23OBLQFcCw