Before multiplying yourself, get yourself to one.
Peter Thiel was the founder of Paypal. He eventually sold his shares and now becomes a Tech Investor.
This book is definitely for seasoned entrepreneur (or new) who are still finding ways to connect with themselves and make the most out of their business.
Key takeaways from the Book.
Why it’s Difficult to Sell at Dead Zone Pricing
Before we start, here's the context.
$1-100 - Great for consumers - Leveraging on Marketing media
1,000 - 50,000 Dead Zone.
100k - Business to Business, the Corporate model. - Leveraging on the network.
It’s fairly easy to find ways to market lower-tier products because if it turns out bad, you can always find another one to replace it. As buyers, we don’t really bother much if it doesn't perform. When it does, we’ll probably be their biggest fan. The challenge is in the distribution and volume.
Top tier pricing is requires a lot of network. If you are good with people, have enough authority, and come from a privileged backgrounds (alumnus, partisan, business circle), this is the market for you. However the sales cycle is going to be very long, but it’ll be worth it. The challenge is finding people to buy.
The Dead Zone is difficult. Using low end marketing channels won’t entice everyday users. Meeting people one to one is proving to be costly. Do not enter the market at this price range.
Instead, find a product that fits the consumer pricing (low tier), then slowly gain trust and upsell other valuable products. It may as well go north of 6 digits.
It’s ok to be Nerd or Alpha, and nothing in between.
Multiply by 1. We are never going to reach one, today if we’re 0.2 then we are only capable of seeing another 0.2.
We hire them. Total output becomes 0.04.
Instead, raise as much as close to one. 0.8 can see 0.8, and say we hire 0.5, we achieve 0.4, x10 better than previously.
Raise yourself to one. (My own notes)
It takes a while to get past the 'setup', but once you're done, it's going to be a slippery slope. I enjoyed reading towards the 1/3 ending of the book.
Worth the re-read.
