Do you remember the time before Uber?
I remember calling a Taxi and then waiting an unknown amount of time until it arrived.
Did my Taxi get cancelled? Shall I call again?
The arrival of Uber to the market was an innovation.
Uber was cheaper and GPS tracked unlike Taxis.
There was nothing else like it.
The competition was weak.
Now let’s go in a different direction.
If your business sells products that are like others on the market, you’re selling commodities.
If your product has the same features as another company’s, should I just choose the cheaper one?
If you are selling a commodity, then it’s a game of supply, demand and price.
My point is:
If you are in a sea of businesses offering the same service, what levers have you got to pull so you can make more money?
Perhaps you can demonstrate the quality of your product is higher.
Otherwise, it can be a race to the bottom on price.
Selling a commodity can be fine if there is plenty of demand.
Perhaps you own a laundromat and there are plenty of folks getting their washing done (or you are laundering money 
).
Alternativelyā¦
You have something unique to sell.
It’s not like the others.
It’s not easy to compare.
A product of service like no other.
Not a commodity.
An innovation.
Who is your competition now?
This is a better place to be if you can get the word out about your product.
Your unique features, quality, nicheā¦
So how do we create something new and innovative?
This is what āZero to Oneā by Peter Thiel and Blake Masters is about: creating groundbreaking innovation by building something entirely new rather than improving existing ideas.
Here were my key takeaways:
1. Zero to One
Zero to One represents creating something new, groundbreaking, or unique.
It’s about innovation and going from nothing to something.
In contrast, horizontal progress involves copying or improving existing ideas, moving from 1 to N.
2. Monopolies Win
Competition is bad for business.
The best companies create their own space and dominate it.
Monopolies drive innovation and profit.
3. Find Hidden Truths
The world is full of secrets.
Look for what others donāt see.
Breakthrough ideas come from discovering new truths.
4. Avoid Crowded Markets
Competing is a losing game.
Find a niche or create a new market.
The fewer rivals you have, the better.
5. Big Bets Matter
One big win is worth a thousand small ones.
Focus on projects that can be huge successes, not just small gains.
6. Tech Beats Globalization
Spreading ideas isnāt the same as creating new ones.
Innovation – making the leap from zero to one – is how we truly move forward.
7. Founders Shape Companies
Great founders build great businesses.
Their vision drives the companyās success.
Strong leaders create strong teams.
8. Culture Is Key
A startup thrives on a shared mission.
When everyone believes in the same goal, the company grows faster and better.
9. Plan for the Future
Believe in a better future – and work toward it.
Donāt just hope things will improve. Make a plan and stick to it.
Talk soon,
Lloyd
PS – Need some help scaling your startup? Let’s chat.
