In this 1 minute PAREable, learn how to think about the future and how to achieve the future.
- Think about the future as a definitive vision. A vision that you want to focus on and attain.
- When thinking about the future, it’s important to think about the progress which stands between now and the future.
- Finding ideas that most people don’t know about or agree with is key to being successful.
- First aim to be a profitable monopoly at a specific and narrow defined target market, then expand to other market.
- The initial team members are critical. Must find the right mix of skills, vision and personal connection with each other. This makes it easier to foster a strong company culture.
- Do have a balanced owner interests to avoid future misalignments and company suffer as a result.
- Two types of progress that bridge the now and the future: horizontal progress (one to n) and vertical progress(zero to one).
- Vertical progress is hard because it does not exist yet. It requires you to see the present differently. It also requires you to find a truth that most people don’t see or agree with.
- A startup has only one specific future vision that will lead to success. One must parse decisions to make in specific conditions.
- Perfect competition is good for consumers, but it does not drive progress.
- Real progress, the zero to one type of vertical progress, usually results in monopolies. Because that means you’re producing something much better than everyone else.
- Sales and distribution is vital because your product will never sell themselves. Optimized your sales effort per distribution point to include various sales strategies.
- Founders tend to be strange people. But the vision they have is indispensable because the decisions are made to realize that original vision.
Live and apply these ideas with the FREE Mindmory app!
Don’t just take my words, check out Peter Thiel’s Zero to One.
Until the next PAREable..