Reading – Zero to One by Peter Thiel
Great products offer extreme improvement to value, benefit from network effect, have scale, and have strong branding. The characteristics of a monopoly Zero to One mentions are applicable on both the product and organizational level. Proprietary technology is the clear, favored advantage of product focused business. Branding is a fantastic accelerant and support to marketing. Building an undifferentiated commodity or easy replicable business is disastrous. Thiel targets a 10X improvement to create a monopoly with technology (heads up Grant Cardone). He provides the iPad, Amazon, and (of course) Paypal as examples. Of course, proprietary technology can also include business processes. McDonalds, Ford, and Wal-Mart are common American business examples. These organizations took existing markets are created processes delivering higher customer value.
How can Red Blue Collective be a monopoly?
What is the extreme value we can create?
Can we develop a product or business product worthy of Monopoly status?
By solving customer challenges, I think we can differentiate above the blogs, courses, seminars, and books in the product development space. If product launches have a high rate of failure, how can we increase success? If hardware products are expensive to develop, how can we reduce the capital entrepreneurs need?
* These characteristics assume the business starts with a small market to monopolize. Demonstrating values to a small, passionate niche is easier to execute.