Key takeaways from Zero to One by Peter Thiel

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Here are 5 key insights from the book Zero to One: Notes on Startups, or How to Build the Future by former PayPal CEO and co-founder Peter Thiel. Image: Wikipedia/Gage Skidmore

Build something new

Go from 0 to 1; create something from scratch rather than adding on to/improving existing concepts. Startups should focus on making breakthroughs. Image: Shutterstock

Leverage ‘secrets’

The biggest opportunity for entrepreneurs is to capitalise on ‘secrets’—discover things that others overlooked or dismissed and make something unique out of it. Image: Shutterstock

Find your niche

Instead of trying to enter a broad market, focus on your strengths and aim to establish a monopoly in that area by making your offering incomparable. Image: Shutterstock

Don’t neglect marketing

While the quality of a product matters greatly, one should also focus on the distribution and marketing aspects to succeed and build value. Image: Shutterstock

Competition is for losers

Thiel believes that entrepreneurs should avoid crowded markets and build unique businesses. One company's gain is another's loss so competition reduces profits. Image: Shutterstock

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