1 Bet on a Contrarian Truth: ”What important truth do very few people agree with you on? Truth about how people will act in the future….”
All failed companies are the same they failed to escape competition when you bet your business on a contrarian truth you’ll dramatically increase your odds of avoiding competition mainly most people will think you’re crazy and ignore you long enough for you to build a significant lead in a particular market that will make it hard for any one to catch you but here’s word of caution make sure you bet on a contrarian truth whose” time has come.”
Counter intuitive business mindset number 2
”If you want to start a big business start by domination a small market”:
Jeff Bezos starting with niche market : book but he was thinking everything market!
Low cost—easy to ship
Ideal customer -book reader has disposabe income, well educated
Because Bezos could dominate a small niche market he could generate enough cash flow free of competition to help fund his expansion into adjacent market like online CD and DVD sales and infrastructure in place to go on to dominate those market.
Don’t try to get 1% of Billion dollar market Instead try to get eight percent of a million dollar market.
“Whoever is first to dominate the most important segment of the market with viral potential will be the last mover in the whole market”
Counter intuitive business mindset number 3
“Strive to be a Monopoly”
-excess profits to give back to society
-Stay in business
4 Monopoly Methods
-apple: Brand association what brand come to your mind Fashionable electronics,
-Google:Proprietary technology 10x better results
-Facebook:Network effect: more people harder to compete
-Amazon:Economy of scale
a person who opposes or rejects popular opinion, especially in stock exchange dealing.
opposing or rejecting popular opinion; going against current practice."the comment came more from a contrarian disposition than moral conviction"
next to or adjoining something else.
having a common vertex and a common side.