The World's Best Book Summaries
Do your customers bring up objections? Do you need to know how to handle objections in sales? In his book Secrets of Closing the Sale, salesman and author Zig Ziglar goes over three techniques to address customer objections. These techniques include addressing objections immediately, appealing to logic and emotion, and staying calm. Below, we’ll go over the three techniques on how to handle objections in sales.
Can monopolies be good? What are the advantages of monopolies? According to Peter Thiel, monopoly is better for society. When a business has a monopoly (meaning it faces no significant competition in the market where it operates), it has the freedom to consider the welfare of its employees and the broader impact of its products and operations on society because profits are assured. Here’s why monopoly is better for society, according to Peter Thiel.
What does Peter Thiel mean when he talks about secrets? What does he have to say about monopolies? What’s his “contrarian question”? Zero to One is entrepreneur and venture capitalist Peter Thiel’s unconventional advice for technology startups. Thiel, co-founder of PayPal and the first outside investor in Facebook, argues that technology has stagnated. Most new companies improve incrementally on existing products, but Thiel argues that the most valuable and game-changing startups create something new—they move from “zero to one.” Here are some of the best Zero to One quotes, along with context and explanation.
What happened when the dot-com bubble burst? How did investors react to the crash? When the dot-com bubble burst in 2000, investors became skeptical of any company that had aspirations of shaping the future. And their newfound skepticism became part of the new conventional wisdom. Here’s why that wisdom was misguided, according to Peter Thiel.
How do you determine your target market as a startup? Should you engage in head-to-head competition? Entrepreneur Peter Thiel offers advice on these and other startup matters in his book Zero to One: Notes on Startups. He shares strategies related to choosing a target market, dealing with competition, and building a monopoly. Continue reading for four startup tips from the book.
What was the dot-com bubble? What can it teach us about tech startups? The dot-com bubble of the 1990s was the biggest bubble since the one ending in the Wall Street crash of 1929. The “lessons” of the dot-com dictate the way we think about tech today. Continue reading for Thiel’s insights on the dot-com bubble and its lessons for entrepreneurs.
What is the power law? How should it influence your planning? The power law is an exponential growth pattern that illustrates how power or size is distributed. The principle has particular application for startups and venture capital, and it can inform investing in general. Keep reading to learn about the power law and how it applies to business and investing.
How much should startup employees be paid? What about the CEO? Is it better to reward employees with equity than with high salaries? In Zero to One, Peter Thiel addresses the issue of startup salaries. He explains that the CEO’s pay sets the bar for everyone else, so you must exercise caution. He also shares his advice regarding equity distribution from the outset. Here are some things to consider when setting your employees’ salaries.
What should a startup’s culture be like if you want to succeed? How do you build unity? What factors make people feel more connected? At PayPal, Peter Thiel fostered a team that was so close that people called them the “PayPal Mafia.” In Zero to One, Thiel shares his wisdom on how to cultivate a healthy and effective startup culture, drawing from the lessons he learned at PayPal. Keep reading to see how Thiel’s insights can benefit your startup.
What is the best organizational structure for a startup? Who should have equity and how much? Who should make the executive decisions? Structure impacts performance, so how you organize your business at the start is critical. Peter Thiel asserts that you must make the right decisions in three areas—equity, direction, and operation—to cultivate organizational alignment and growth. Here’s how to get your startup structure right at the start.