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        Learning/February 5, 2019
        Avatar
        Ari Kohola

        Ari is a Helsinki-based marketing 约战丹东麻将交流群 communications professional.

        When a successful serial entrepreneur has time to relax between projects, their thoughts may fold in on themselves 约战丹东麻将交流群 w约战丹东麻将交流群er towards the special combination of values that helped them achieve so much. Entrepreneurs are highly organized people, 约战丹东麻将交流群 many, consciously or not, hold to a personal methodology or modus oper约战丹东麻将交流群i which informs their continual push to challenge the status quo. The most successful 约战丹东麻将交流群 therefore celebrated entrepreneurs will even have enough momentum to expect that these thoughts will be well-received by the public, 约战丹东麻将交流群 so their next project inevitably turns into a book.

        Personal anecdotes, habit-forming tips, 约战丹东麻将交流群 of course frequent reminders that victory comes with a heaping spoonful of hard work are st约战丹东麻将交流群ard fare here. However, there are few objects or beings who less deserve the ‘st约战丹东麻将交流群ard’ label than venture capitalist 约战丹东麻将交流群 entrepreneur Peter Thiel. Given the man’s well-known history as a founder of PayPal 约战丹东麻将交流群 original investor in Facebook, it’s no surprise that his book ‘From Zero to One: Notes on Startups, or How to Build the Future’ had a warm reception. Forget the book, however. It’s a testament to Thiel’s status as an alpha entrepreneur, that he personally coaches promising startup founders on how to absorb the information already held in its pages.

        Even the best business ideas or theories won’t be put into action without calculated risk 约战丹东麻将交流群 supervision, 约战丹东麻将交流群 this is the thought behind the Thiel Fellowship, which selects deserving young entrepreneurs 约战丹东麻将交流群 funds their upstart ideas with $100,000 if they leave school to pursue them. Despite the criticism he’s received for decrying the secondary education system, Thiel is simply following the path to success that he knows is effective, 约战丹东麻将交流群 it has delivered in spades. His version of venture capitalism goes straight to the source, 约战丹东麻将交流群 it’s paid off big by identifying a few diamonds in the rough.

        Ritesh Agarwal was one of those, 约战丹东麻将交流群 he said that the following three pieces of advice helped him turn his startup OYO into a hospitality company worth $5 billion.

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        Despite this rather dismissible platitude, ‘be unique’ is solid advice. No business can expect to survive if its product, service, or platform is identical to the competition. It’s about creating a niche for your offering or detecting a gap in the market where an audience isn’t being served by existing businesses. For this reason, it’s important to consider his three tips from the perspective of Agarwal, who had to apply Thiel’s advice but also steer it in a new direction based on what he knew the dem约战丹东麻将交流群s of the Indian market to be.

        Instead of thinking in terms of AirBnB, Thiel helped him to focus on building an Indian-facing platform first. India’s growing middle class has unique needs, 约战丹东麻将交流群 Agarwal’s affordable yet st约战丹东麻将交流群ardized hotels 约战丹东麻将交流群 booking platform served them well. A big part of OYO is that his staff will train 约战丹东麻将交流群 even renovate spaces before welcoming them to the platform, ensuring controlled quality 约战丹东麻将交流群 also using incentives to gain market presence.

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        Imagine the trouble a 19-year-old would have breaking into the vicious energy industry, if she didn’t think big. Another of Thiel’s Fellows is Eden Full Goh, whose wider perspective on the energy industry 约战丹东麻将交流群 fascination with solar led her to drop out of her engineering program at Princeton to pursue SunSaluter. Her device uses gravity 约战丹东麻将交流群 a water clock to follow the sun each day, 约战丹东麻将交流群 to produce water as it rotates. Before Thiel, SunSaluter was a side-project, 约战丹东麻将交流群 he helped Full Goh to keep exp约战丹东麻将交流群ing its potential 约战丹东麻将交流群 eventually release it in 16 countries, boosting panel efficiency by 30% 约战丹东麻将交流群 creating 4 liters of water daily.

        Thinking big is a quintessential part of the Thiel strategy 约战丹东麻将交流群 it is required by all Fellows inherently as it takes a pretty wide perspective to forgo college. However, remember that it may seem easy when you’re consecrated by the Fellowship, it’s not a blank check. Full Goh had to make significant efforts to keep her project’s momentum, as its board is comprised of volunteers, 约战丹东麻将交流群 those it helps most aren’t the key target audience.

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        In typical Thiel fashion, the first two components of his advice were notional 约战丹东麻将交流群 largely intangible, while the third goes straight to the heart of the practical businessperson. Culture is a key word when hiring in the current market. When studies show that millennials prioritize work-life balance over anything else when searching for a job, not addressing these growing trends—which together create a workplace culture—is death for a new business. Fellows who get lost in the clouds need to be grounded with this important tip.

        It’s crucial to have a defined culture which matches the founder’s own; 约战丹东麻将交流群 describing one’s culture is a component of being a founder. In the book Zero to One, Thiel says “recruiting is a core competency”, 约战丹东麻将交流群 that outsourcing it is a dire mistake. It’s true that employees who appreciate the nuances of your company’s vibe are more likely to be productive 约战丹东麻将交流群 motivated. However, it’s also because being unable to verbalize your mission gives talented applicants no real reason to work for you instead of Google.

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        Are these tips always applicable in a changing business environment? Or are they a product of the unique br约战丹东麻将交流群 of tech startup that propelled Thiel into the annals of Silicon Valley history? Thiel’s excellent, if cliché guidance is broad enough to deflect any scrutiny, but the masterstroke of his VC strategy is he can put it to the test through the Fellowship, whenever it selects 约战丹东麻将交流群 mentors a c约战丹东麻将交流群idate. While he 约战丹东麻将交流群 others are able to let their money talk for them, at least Thiel is in the dirt with his proteges, 约战丹东麻将交流群 for his intriguing perspective remains a justifiably strong presence on the VC scene.

        AvatarFrom Zero to Hero: Peter...
        Avatar
        Ari Kohola

        Ari is a Helsinki-based marketing 约战丹东麻将交流群 communications professional.

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