Ideas from Peter Thiel’s TWIST Episode

In this 45 second PAREable, learn more insights that Peter dispensed in this Launch Festival interview.

Actionable Do:

  • The key to think about competition is to not compete at all. Aim to be a monopoly.
  • We are too prone to think what’s valuable is what the other person is doing. Do think in terms of this better question: what can your company do that nobody else is going to do.
  • Future is not fixed. The better way to think about future for entrepreneurs is, what is the future you want to build.

Thinkable:

  • Absolute rules are dangerous.
  • There are good short cuts, but too many short cuts will go wrong.
  • One of the things that led to Peter’s investment in fb at that time was intensity of usage and network effect.
  • Sometimes investors over-value things they use and under-value things they don’t use.
  • Learn how to identify what is core. iOS is core to Apple, Android is not core to Google.
  • The best idea is contrarian and true. Intellectually true and business sense true.
  • Three forms of innovation: continuous improvement, big breakthrough, and complex coordination (pulls various parts together in an innovative way).
  • Three essentials for any great company: talented team that works well together with its internal dynamic, product or technology is based on a kernal of a really good idea, and good business strategy. If you have all three, most other details won’t matter.

Live and apply these ideas with the FREE Mindmory app!

Don’t just take my words, watch this chat.

Peter Thiel on This Week In Startups.

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Ideas from Peter Thiel’s Zero to One

In this 1 minute PAREable, learn how to think about the future and how to achieve the future.

Actionable Do:

  • 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.

Thinkable:

  • 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.

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Ideas from Eric Ries’ Clarity Chat

In this 45 second PAREable, learn what new insights Eric has came across since his book was released back in 2011.

Actionable Do:

  • If you do things with a scientific approach, it’s always better than if you do things ad hoc.
  • If you want to have continuous innovation, you have to be able to find new product-market fit over and over again.
  • Leader of a modern company needs to be able to speak to all four groups of people (ops, core, new and experimental). Communicate a common message and culture value without alienating a single group.
  • Include productive failure in metric review. Productive failure is either you learned something valuable and pivot into success. Or, you learned something that was a waste and eliminated.

Thinkable:

  • Entrepreneuriship is fundamentally a type of management. It’s about team building, team organization and growth.
  • The reason it is hard for a successful company to build startup within is because of the difference of requirements for a developed idea compare to startup ideas.
  • Entrepreneurship is a separate function, like sales, engineering, marketing and design.
  • 4 type of work within a modern company: operational infrastructure, post market-product fit core optimization, new strategic initiatives, and experimental R&D. First has no tolerance of failure. Second avoids failure. Third learns from failure. Fourth experiments and produces failure.
  • Business common sense can both hurt and help startups. It depends on your goal and your conviction of why you started this startup.
  • The Lean Startup mindset is just as powerful as the process and technique. It’s a powerful way to approach any problems.
  • Drive change into an organization: accountability (validated learning) -> process -> culture -> people.

Live and apply these ideas with the FREE Mindmory app!

Don’t just take my words, watch this chat.

Eric Ries – The Future of The Lean Startup.

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Ideas From Eric Ries’ The Lean Startup

In this 45 second PAREable, learn how to develop a sustainable business model through rapid prototyping and feedback.

Actionable Do:

  • Focus the whole team at finding a sustainable business model. The faster the model is found, the likelier the start-up is to succeed.
  • Do learn through a scientific approach, constant validate your learnings.
  • Validate your hypotheses by speaking with real customers.
  • Move from believing to knowing by testing the value and growth hypotheses of your product.
  • Test the demand of your product by building a minimal viable product.
  • Build-measure-learn cycle as fast as possible will get you to your sustainable business model as soon as possible.
  • Split-test all your features to distinguish what would be valuable to your customers and what would be a waste of time.
  • Pick an engine of growth(sticky, viral, or paid) and focus.
  • Must examine the right metric, not superficial metrics that doesn’t help you towards your goal.

Actionable Don’t:

  • Start-ups cannot be managed by traditional strategies due to its lack of a past.
  • Don’t be afraid of pivoting your fundemental core assumptions.

Thinkable:

  • The main goal for a start-up is to find and build a sustainable business model.
  • Value hypothesis assumes a product will be accepted by early adopters.
  • Growth hypothesis assumes a product will appeal to a larger group of people later.

Live and apply these ideas with the FREE Mindmory app!

Don’t just take my words, check out Eric Ries’ The Lean Startup.

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Ideas From Seth Godin’s Start Up Podcast On Making Ideas Travel

In this 30 second PAREable, learn about making ideas travel.

Actionable Do:

  • When talking about your business, spend a minute on what it is, and 4 minutes on proving it’s true and important.
  • You need to figure out, with less than 20 words, what to say to another person so that they are eager to use, eager to pay attention, eager to pay money and they would want to know more about your business.

Thinkable:

  • Idea is like a rider, they need a horse to get places.
  • Is the idea a good one, and what are you connecting it to so it travels?
  • One way to inject an idea into someone’s head, is to find someone else that is already there, and hang a picture next to it.
  • Problem with the web is that it’s hard to share websites, and people won’t remember how to get back to your website.

Live and apply these ideas with the FREE Mindmory app!

Check out the eighth part of his Start Up podcast here.

Seth Godin’s Start Up Podcast Part Eight.

Until the next PAREable..

Ideas From Seth Godin’s Start Up Podcast On Advertising

In this 15 second PAREable, learn about buying and selling advertisement.

Actionable Do:

  • If you’re buying ads, you have to know how to measure. You measure the results, not measure the clicks on the way to results.
  • Ads with proven results, you buy infinity amount of them.

Thinkable:

  • When selling advertisement, most of the time you’ll be confronted with false objections. They are reasons someone give to get you to go away. They look for reasons to say no, not reasons to say yes.

Live and apply these ideas with the FREE Mindmory app!

Check out the seventh part of his Start Up podcast here.

Seth Godin’s Start Up Podcast Part Seven.

Until the next PAREable..