The Secret of Success Through
the Eyes of Billionaire Peter Thiel
Although today's business world is full of modern technology, traditional methods are still a popular tool for success. Therefore, it is worth listening to the advice of experienced entrepreneurs who have built successful companies. Peter Thiel - co-founder of PayPal - can also be described as one of them. He was the first to invest in Facebook in addition to the founders themselves, and today he manages the Founders Fund, which manages $ 2 billion.
Think differently about the future
When we talk about the future, we do not mean the time period, but rather the progress that we will achieve in that time. This progress, or the changes that will occur compared to the present, is what defines your future. But progress is not just about some increase. Instead, it is often a matter of creating something completely new, such as new technology or method/procedure. Predicting progress is a very difficult thing because you have to imagine something that does not yet exist. Therefore, you can only predict the future by looking at the present in the right way. If you want to imagine what lies in the future, it is best to critically evaluate the present and estimate accordingly what may change. You can only see the future by thinking outside of established conventions. Most people only develop existing ideas. But to achieve real progress, create something brand new.
You can't be good at everything in the beginning. Start a small company and become the best in one thing.
In the beginning, it is not possible for your company to excel in more than one area. When you start, focus on and develop one particular thing/area. Also, you can't expect to become the best company shortly after it starts. Expect that it will take a lot of patience. And as you work your way up to the top in one area of business, you can gradually grow into others. This procedure has been tried many times. Jeff Bezos, the founder of Amazon, also had the goal of becoming the largest online retailer from the start. Well, if you remember the beginnings of this company, then you know that it is far from selling what it is today. Jeff Bezos initially focused on selling books only. When he became one of the best sellers of books, he also added CDs and DVDs to his menu. He gradually added various products until he reached today's level.
Start a business only in a specific part of the market. Find an area where you know you have a chance to outperform your competition. Once your company gets some solid foundation, you can move on.
Look for secrets that others can't copy
The world is full of little secrets. Your grandmother also had secrets to make the best cakes. The bakery where you go to buy bread has its little secret about how to make fluffy bread with a crispy crust. The truth is that every company needs its own little secret - unique information, technology or experience that sets it apart. For example, in the field of technology, it is important to bring to market such technologies that always give the customer something more than the competition. Hewlett-Packard is a perfect example of this. In the 1990s, they were not afraid to invent new things in which they put something unique, unlike the competition. Their innovative products, such as an affordable color printer or a device combining a printer, copier, and fax, were considered crazy by other companies. But this was a unique little secret about them.
But since they stopped inventing new things, their market value dropped by almost half.