The overwhelming lack of success for startup of business is quite alarming and should force many people into a typical job that is 9-5. Throughout the quarter for my Tech Entrepreneurship class, we were taught many essential principles and notions provided by guest speakers and the professor regarding “being your own boss”. One underlying theme was that as an entrepreneur, there isn’t a ceiling to be reached as you can strive to go beyond that. Furthermore, it forced me to understand that nobody is going to hold your hand as you wander off into your own world as a CEO.
With this in mind, I listened and dissected a few audible books regarding entrepreneurship and the essential ideas and foundations needed to build something of value. The author of “Zero to One” by Peter Thiel exhibited some interesting fundamentals and ideas that has the potential to disrupt the way technology interacts with the world. As a cofounder of PayPal, investor of early Facebook, and now a billionaire, Peter Thiel outlines essential skills and visions to create a successful business.
There won’t be a next Microsoft, Amazon, Google, Facebook, etc., any time soon because these businesses have conquered their domain and dominates the competition. The book explains that the dot.com bubble led in innovation and the companies with real use case for a given problem grew to be the monumental companies we recognize today. He simplifies that the next big business would not just be from 1 to N in terms of horizontal growth but a company that starts at zero to one for vertical growth. To simplify this analogy, it is a lot harder to start at a dead stop and actually get the business moving, especially in a highly unique niche. We can think of driving a manual stick shift vehicle where getting the car to move at all is the hardest part of learning to drive a manual.
Peter Thiel had me questioning the right business to start as we continue writing our business plan throughout the quarter in class. The next big business has to be a disruptor in a niche market and using technology as a tool to enhance this will guide the process. Thus, my business plan is a hybrid combination of blockchain technology (which still hasn’t had a mainstream use case to date) and mobile application. Again, the most difficult part is actually getting this company moving and that fact that there is not any ceiling gives me hope.