Spend Years Building a Successful Monopoly
As stated in a previous blink, we tend to think of monopolies as behemoths towering over their competitors.
But, of course, they don't start out that way: building a successful monopoly takes time.
This is especially true when it comes to making profits : it can take years for a start-up to become profitable.
But even if the company doesn't initially make profits, it can still have value, because value is determined by the profits it will make over its entire lifespan.
@Paypal is a case in point: in 2001, it wasn't making any profits, and when @PeterThiel calculated the value of the company back then, he found that most of it came from profits that were expected to come in more than ten years later!
The lesson here is that you can't expect to be top dog in your business from the get-go: you need to be prepared to stick around for the long run.
That's what will make a Business profitable.
After you've obtained a monopoly in your niche, you can move on to the next, broader market.
Spend Years Building a Successful Monopoly
As stated in a previous blink, we tend to think of monopolies as behemoths towering over their competitors.
But, of course, they don't start out that way: building a successful monopoly takes time.
This is especially true when it comes to making profits : it can take years for a start-up to become profitable.
But even if the company doesn't initially make profits, it can still have value, because value is determined by the profits it will make over its entire lifespan.
@Paypal is a case in point: in 2001, it wasn't making any profits, and when @PeterThiel calculated the value of the company back then, he found that most of it came from profits that were expected to come in more than ten years later!
The lesson here is that you can't expect to be top dog in your business from the get-go: you need to be prepared to stick around for the long run.
https://media.giphy.com/media/rM0wxzvwsv5g4/giphy.gif
That's what will make a Business profitable.
After you've obtained a monopoly in your niche, you can move on to the next, broader market.
https://www.youtube.com/embed/Hd9pHZC7Sak?start=180&end=256
#SpendYearsBuildinga