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15 Important Lessons for All Entrepreneurs

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15 Important Lessons for All Entrepreneurs

  1. 1. SCALING IS NOT ABOUT GROWING
  2. 2. WE BUILD REVOLUTIONARY PRODUCTS AND SERVICES
  3. 3. OFF TO A ROUGH START
  4. 4. THE SILICON VALLEY BREAKTHROUGH
  5. 5. WHERE WE ARE HEADED TOMORROW
  6. 6. MOST VALUABLE THINGS I’VE LEARNED (SO FAR) →
  7. 7. YOU WILL BE SUCCESSFUL BY GIVING SOCIETY WHAT IT WANTS BUT DOES NOT YET KNOW HOW TO GET. AT SCALE.
  8. 8. START LOCAL THINK GLOBAL
  9. 9. TODAY, NO BUSINESS SURVIVES WITHOUT SCALE
  10. 10. BEN&JERRY’S OR AMAZON?
  11. 11. BEN&JERRY’S OR AMAZON? > LOTS OF ESTABLISHED COMPETITORS > NO NETWORK EFFECT; WEAK CUSTOMER LOCK-IN > LITTLE CAPITAL REQUIRED TO START THE BUSINESS; BREAK EVEN FAST > MISTAKES BECOME VALUABLE LESSONS > IT TAKES A LONG TIME TO GET BIG > YOU’LL PROBABLY SUCCEED. YOU CERTAINLY WON’T LOSE TOO MUCH MONEY. > NEW TECHNOLOGY, NO COMPETITION AT FIRST > STRONG NETWORK EFFECT & CUSTOMER LOCK-IN > OUTRAGEOUS AMOUNTS OF CAPITAL REQUIRED; PROFITABILITY CAN TAKE YEARS > MISTAKES ARE NOT REALLY NOTICED > YOU GET BIG VERY FAST > YOU HAVE A TINY CHANCE OF BECOMING A BILLIONAIRE, AND A HIGH CHANCE OF JUST FAILING
  12. 12. SCALING LEVERAGES AN EXISTING UNFAIR ADVANTAGE. IF YOU DON’T HAVE ONE, ABANDON YOUR BUSINESS. NOW.
  13. 13. TECHNOLOGY IS NOT AN UNFAIR ADVANTAGE. IT WAS 10 YEARS AGO.
  14. 14. LIGHTBULBS ARE NOT A CONTINUOUS EVOLUTION OF CANDLES. SCALING IS NOT ABOUT CONTINUOUSLY GROWING.
  15. 15. PERSONAL LEVELLING UP: KNOW YOUR SHIT EXTREME OWNERSHIP ACTIVE FORMULATION CLARITY OF DECISIONS
  16. 16. ARM YOURSELF WITH SPECIFIC KNOWLEDGE
  17. 17. IGNORE PEOPLE PLAYING STATUS GAMES. THEY GAIN STATUS BY ATTACKING OR PARASITING PEOPLE PLAYING VALUE CREATION GAMES. STOP THINKING ABOUT SIGNALING AND DO THE WORK.
  18. 18. EMBRACE ACCOUNTABILITY AND THINK IT'S ALWAYS ABOUT YOU.
  19. 19. FORMULATE ACTIVELY (AS IN "NOT PASSIVELY") AND ASK YOURSELVES “HOW CAN I DO THAT”
  20. 20. BE CLEAR ABOUT WHAT YOU WANT TO ACHIEVE AND WHY, HOW IT WILL PLAY OUT, WHAT IS THE COST, AND HOW YOU MEASURE SUCCESS
  21. 21. LEVEL UP YOUR BUSINESS: AUTONOMY TEST & LEARN CONTINUOUSLY
  22. 22. CREATE A HIGH-CAPILLARITY STRUCTURE AND NOT A COMMAND-AND-CONTROL ONE
  23. 23. PLAY ITERATED GAMES. RETURNS COME FROM COMPOUND INTEREST.
  24. 24. STOP THINKING. START DOING. GOOD LUCK.

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