The below are the 7 questions based on medium article that all new businesses should have an answer to according to Peter’s book Zero to One. Let’s make your imagination shine! Please share with the class an interesting business idea and answer the below questions. The idea can be created from scratch, found by searching the web, or if you must, a business that already exists.
- The Engineering Question: Can you create breakthrough technology instead of incremental improvements? 20% improvement is not enough.
- The Timing Question: Is now the right time to start your particular business?
- The Monopoly Question: Are you starting with a big share of a small market?
- The People Question: Do you have the right team? For Thiel’s venture capital fund (Founders Fund) the common red flag was that CEO was wearing a suit. This meant the CEO would be looking like a salesman but won’t be able to actually sale or do tech.
- The Distribution Question: Do you have a way to not just create but deliver your product?
- The Durability Question: Will your market position be defensible 10 and 20 years into the future?
- The Secret Question: Have you identified a unique opportunity that others don’t see?
- Play Video
https://www.youtube.com/watch?v=6kGND-uZolY
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